Charter Hall and Cape Bouvard’s dynamic Perth office tower 95% leased

16/02/2009 - PDF Version Available

Joint venture partners Charter Hall's Opportunity Fund No.4 (CHOF4) and Cape Bouvard Investments (CBI) are pleased to announce that it's striking Perth office project, Alluvion, is now 95% leased.

Situated at 58 Mounts Bay Road, with the main access from St Georges Terrace, Alluvion has been designed to embrace the magnificent and panoramic views of the Swan River and Kings Park. The $220 million, A-grade, 21 level office building, comprises of 22,400sqm (net lettable area) of commercial office space with three levels of secure car parking and a triple height entry plaza and foyer. The design of the building has incorporated the latest environmental design initiatives, with the developers aiming to achieve a 4 Star Green Star - Office Design v2 and 4.5 star NABERS Energy ratings.

In a deal concluded 12 months ago, Clough Limited, the building's major tenant agreed to lease 12,560sqm of office space for a 12 year term. In order to cater for its expanding workload, Clough has secured an additional two floors, bringing its total premises to 15,700sqm over 10 floors.

Other tenants who have leased whole floor space in the Alluvion over long lease terms include Euroz Securities, North West Shelf Shipping Company and Cape Bouvard Investments, each securing 1,570sqm. The project leasing agent Savills, has secured space within the building.

Alluvion is another success story for Charter Hall's CHOF4 with a number of recent leasing commitments. David Southon, Joint Managing Director for Charter Hall said: "The significant leasing commitments represent another milestone in the success of CHOF4. It further demonstrates our ability, in conjunction with our joint venture partner Cape Bouvard in this instance, to understand the current and future accommodation needs of high calibre tenants, delivering office environments that provide optimum efficiency and productivity".

Lee Pinkerton, Cape Bouvard's General Manager said: "We are delighted with the progress of Alluvion and the leasing campaign in securing quality long term covenants". Adding further: %u2018The long term commitment by major tenants demonstrates a high level of confidence in Perth office markets. With 95% of the commercial tower now committed, there is only half a typical floor and the building's top floor, a typical boutique space of 372sqm available".

Works on Alluvion are well advanced with completion anticipated for April 2010.


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