Charter Hall and Cape Bouvard Appoint Builder for New Commercial Office Tower in Perth CBD

Joint Venture partners Charter Hall's Opportunity Fund No.4 (CHOF4) and Cape Bouvard Investments are pleased to announce the appointment of Broad Construction Services (WA) Pty Ltd, as the building contractor for Alluvion, a stunning new commercial office tower in the Perth CBD.

Situated at 58 Mounts Bay Road, the %u2018A' Grade, 22 level office building has been designed to embrace the magnificent and panoramic views of the Swan River and Kings Park. Comprising 14 levels of commercial office space, three levels of secure car parking and a triple height foyer, Alluvion has more than 36,000m² of gross floor area.

Charter Hall and Cape Bouvard Investments have designed this state of the art building to achieve a 4.5 Star Australian Building Greenhouse Rating (ABGR) and 4 Star Green Star office rating, making Alluvion one of the first commercial office towers in the Perth CBD to achieve this level of environmental efficiency.

Charter Hall's Joint Managing Director, David Southon said: "Alluvion will be a significant addition to Perth's business community and CBD skyline. Appointing Perth-headquartered Broad for the works was a natural choice given their strong record of delivering impressive office projects around Australia and their established relationships with major sub-contractors in the Perth market. The appointment of Broad is also a significant milestone in the progress of this exciting project, which will further contribute to the success of Charter Hall's already highly successful fourth opportunity fund, CHOF4."

Joint Venture partner Cape Bouvard Investment's Deputy Chairman Peter Sarich said: "Broad has demonstrated their ability and professional approach to their projects during the forward works stage and we are confident they will continue to deliver the remainder of the project in the same manner, ensuring that it is a success for both the Joint Venture and Broad. The design of this building has made the most of the location opportunities with a raised plaza providing connection from the main entry to St Georges Terrace and across Mounts Bay Road to the Convention Centre, Busport and Esplanade Train Station. On completion, this is going to be an exciting and desirable precinct to be located in."

Cape Bouvard Investments is acting as Development Managers for this project offering their well established local knowledge and reputation to the project. Peter confirmed that Cape Bouvard will be relocating its offices to the new building on completion "We are confident in the quality of this development and have committed to the top floor of the building, the large column free floors are offering us some exciting opportunities for the design of our new office space."

Broad is currently nearing completion of the forward works contract for which it was separately engaged and will continue seamlessly into the main works contract. Broad is one of Australia's fastest growing construction companies and has helped deliver many award-winning developments, recently taking out several 2007 Master Builders Association Excellence in Construction Awards.

Simon Amos, Director and General Manager Broad WA said: "Winning this landmark project is a fantastic achievement for the Broad team and demonstrates our clients' confidence in our ability to continually deliver first class projects, Alluvion will showcase Broad's commercial construction capabilities and cement its green building credentials."

Charter Hall's National Leasing Director, Emil Joubert together with leasing agents Savills and Jones Lang LaSalle are coordinating leasing of the project. Emil Joubert said: "There has been considerable interest in the building from a number of major prospective tenants and we expect to be in a position shortly to formally announce leasing deals over a considerable amount of the building." He went on to say: "Tenants around Australia are demanding a higher quality of space that will drive improved levels of productivity and meet the ecologically sustainable design principles that are being prescribed by both their employees and their clients."

Stage one works has commenced with overall building completion scheduled for April 2010.