This article is from the Australian Property Journal archive
THE premium-grade, 40-level Exchange Tower in central Perth has brought its vacancy rate down to below 15%, after it hit more than 37%.
The world’s sixth-largest accounting group, RSM, has leased 3,281sqm over three high-rise levels on a long-term lease and will take signage rights.
It is one of four key new deals in the tower, which is owned by AMP Capital Wholesale Office Fund and Primewest. International engineering group ARUP has taken 1,500sqm on level 14, global technology company Fujitsu is moving into 1,309sqm on level 9, and national law firm Moray and Agnew has signed on for 1,092sqm on level 30.
Amongst other new tenants in the tower are Quayside Chambers, Viva Energy and WTP.
The leasing campaign was managed by Knight Frank’s Ian Edwards.
Exchange Tower is located at 2 The Esplanade, just off St Georges Terrace. Existing tenants include Patersons, Morgan Stanley, Bell Potter, Allen & Overy, Bain, Ministerial & Parliamentary Services, Mitsubishi, Mitsui and Knight Frank.
The owners recently commenced a refurbishment of the ground floor lobby, with upgrades planned for the forecourt and lifts.
“We’re delighted to welcome our new tenant customers to Exchange Tower who will benefit from the prime Perth location, increased service and amenity and the significant investment the owners have made in this premier business address,” AMP Capital office & industrial managing director Luke Briscoe said.
Primewest director John Bond said the ability to attract tenants of this caliber in a tough leasing market was testament to the joint owners’ ongoing commitment to adding value to the asset and surpassing the expectations of existing and new tenants.
Australian Property Journal
