Four companies have relocated to a recently refurbished tower in Perth’s CBD, highlighting the ongoing flight-to-quality trend among office tenants in Western Australia.
Four companies have relocated to a recently refurbished tower in Perth’s CBD, highlighting the ongoing flight-to-quality trend among office tenants in Western Australia.
In the past four months, in addition to existing tenants renewing their leases, The Career Insight, Finite IT, Elevator Directions and Omni Executive have committed to a total of 525sq m in the BGC Centre at 28 The Esplanade under various lease terms.
Savills Australia’s James Phelan and CBRE’s Andrew Denny have negotiated the terms on behalf of private Perth-based landlord, BGC.
“The capital that has recently been injected into the tower has strongly influenced the tenants’ decision to relocate,” said Mr Phelan.
“The views over Elizabeth Quay were a key drawcard for The Career Insight, as was the brand new end-of-trip facilities.
“All the spaces leased have high-quality existing fit-outs and the lobby has recently been upgraded.”
Mr Phelan said BGC was known among the Perth office leasing community as a fair landlord, which had also driven the companies to 28 The Esplanade.
CBRE’s Andrew Denny said the commitments were a sign of Perth’s blossoming market conditions.
“There are a significant amount of tenants in the market looking for space between 100sq m and 300sq m,” he said.
“The commercial terms are improving, particularly for deals below 300sq m, with incentives down on previously recorded levels.”
Learn more about Savills Office Leasing.