This article is from the Australian Property Journal archive
THE refurbishment of a dilapidated heritage listed building in Perth's CBD has paid off for owners Winston Holdings Pty Ltd and Ayoman Pty Ltd.
The property at 88 William St is now fully occupied after the upper levels was vacant for at least 30 years.
The owners engaged prominent Perth heritage architects Palassis Architects to oversee the restoration.
CBRE office services senior director Andrew Denny said the building was fully leased prior to practical completion.
Insurance brokers CKA Risk Solutions have leased the top level together with some signage rights on the building. Perth accountants Nexia leased level 3, a Perth mining company has leased level 2, with level 1 being leased to Solid Gold for a mixed office and retail use.
A new building entrance was constructed fronting William St and the building was given a new address.
The building has a total NLA of approximately 7,500 sqm including four upper levels. The typical floor size is 1,500 sqm. The building is located on the corner of the Hay St Mall.
Denny said the refurbishment of this building has turned derelict unused space into a high value and vibrant end product.
“88 William St was vacant for at least 30 years after the previous occupier, the Economic Stores, closed. The success of this project can be judged by the property being fully leased prior to the practical completion of the works.” Denny concluded.
Property Review
