This article is from the Australian Property Journal archive
ISPT is looking to establish Perth’s first urban commercial village, with a $40 million redevelopment of enex and its adjoining A Grade office tower at 100 St Georges Terrace.
With the redevelopment masterplan designed by Woods Bagot, enex and 100 St Georges Terrace are set to be transformed into a mixed-use space with functional amenities, including a dining precinct.
“The redevelopment of enex and its adjoining office tower at 100 St Georges Terrace reimagines the balance between leisure and work experiences in Perth, blending hospitality, premium fashion, convenience retail and office spaces all under one roof to create Perth’s first urban commercial village,” said Sam Curry, head of portfolio (retail) at ISPT.
“Split over two levels, our new intuitive design for enex aims to invite visitors into the precinct to shop, meet, dine and relax — with a curated mix of amenities for customers to enjoy.”
The existing retail and enex service offering will be condensed over two levels to make room for the new “City Canteen” and “Central Lounge” on level two of the building.
City Canteen will be a new lunchtime dining precinct with over 260 sears and a range of food and beverage outlets.
While Central Lounge will be the epicentre of the urban commercial village, connecting enex’s retail space with City Canteen with over 130 seats across communal and individual seating options.
The reimagined enex will see a range of curated retailers added to its premium retail offering, which currently includes Gorman, Aesop and Decjuba. While level one will continue to offer convenience retail.
The adjoining A Grade office tower at 100 St Georges Terrace will undergo refurbishment to create a state-of-the-art “Future Floor” office space concept on level three, which will span 5,150sqm and host incoming tenant, South32.
Future Floor has been designed by ISPT in collaboration with South32 as Perth city’s first true campus-style office with its purpose-designed collaboration spaces.
“We are pleased to welcome South32 to 100 St Georges Terrace, a premium office destination in the centre of Perth’s CBD with our thriving retail destination enex right on its doorstep,” said Nicole Ward, head of portfolio (office) at ISPT.
“This new partnership demonstrates how ISPT is continuing to meet and exceed the expectations of today’s tenant partners through quality innovative workspaces combined with unique retail experiences. The investment demonstrates our continued commitment to ensuring we have a world-class offering,”
South32 will relocate its corporate headquarters to the 100 St Georges Terrace office tower upon completion of the redevelopment, in a deal negotiated by Cushman and Wakefield.
With 6,200sqm of A-grade office space over three levels, the deal marks the largest office leasing pre-commitment to-date in Perth CBD for 2023.
This announcement comes a month after ISPT, which is readying a separate national portfolio of retail assets for sale, sold the Brisbane home of fast fashion giants H&M and Uniqlo for $145 million.
ADCO Constructions has been appointed to deliver the Perth project, with works expected to commence in late 2023 and the redevelopment’s completion estimated for early 2025.
