This article is from the Australian Property Journal archive
TATTARANG Group, the family investment office of Andrew and Nicola Forrest has unveiled plans to transform 190 St Georges Terrace in Perth into a boutique office asset.
Fiveight, a company in the Tattarang group, will undertake the redevelopment of 9,200 sqm 12- storey building to offer bespoke architecturally designed workplaces and collaborative spaces, aimed at small to medium-sized businesses.
A range of office sizes will be available to rent, from 190 sqm to 890 sqm.
To be known as OneNinety, the building promises to deliver a level of amenity and customer service usually only available in larger Premium grade buildings, including a spacious lobby with fireplace, conference and meeting facilities, alfresco landscaped courtyard and café, end-of-trip facilities and brand-new retail offerings with plans for a boutique wine bar.
OneNinety will also activate a green living laneway with pedestrian access from Hay Street and St Georges Terrace.
The plans have been completed with architects Donaldson Boshard, interior designers Rezen, with landscaping by SeeDesign.
Head of Fiveight John Meredith said the development would include a dedicated Guest Relations Manager offering a highly personalised service and app-based customer portal technology.
“With a level of attention to detail more reminiscent of a boutique hotel than a traditional office tower, OneNinety will become a CBD hub that will help smart companies attract and engage the most talented workforce in an ever-tightening labour market.
“In an era where working from home has become commonplace, we believe it is increasingly important to offer an alternative to the big impersonal office tower with a workplace that offers people a reason to return to the office,” he added.
“OneNinety has been architecturally designed to instil a sense of place and belonging, provide opportunities for collaboration and socialising, and transform the traditional corporate office into a vibrant place that fosters productivity and provides the perfect spaces to meet and work,” he continued.
Fiveight bought 190 St George’s Terrace in 2020 for $55 million from Credit Suisse, as part of the Forrests’ expanded property strategy.
Credit Suisse acquired the investment only four years earlier for $64.2 million as a counter-cyclical play.
Only Credit Suisse’s strategy was never executed because it sold the building partly vacant with a weighted average lease expiry of less than one year, after buying it with 95% occupancy.
The building was originally developed in 1982 by Lord Alistair McAlpine and has undergone several rounds of renovations since. It is situated on the northern side of St George’s Terrace and adjoins the heritage-listed Cloisters, the original location of Hale School.
This announcement comes hot on the heels of the Forrests recently purchasing the historic Le Fanu mansion in Perth’s beachside suburb of Cotteloe. In June Fiveight also unveiled plans for a $35 million boutique hotel for the Spicers building in the heart of Fremantle.
