Charter Hall appoints builder for new commercial office building in Perth

Charter Hall is pleased to announce the appointment of Broad Construction Services (WA) as the building contractor for its new commercial office building to be constructed at ONE30 Stirling Street in Perth.

The development site was acquired by Charter Hall's $1.25 billion Core Plus Office Fund (CPOF), which is mandated to undertake development projects in key office markets across Australia. This development and the adjoining Hatch building investment typifies the flexible investment appetite of CPOF.

Located only 800m from Perth GPO, ONE30 Stirling Street provides greater CBD accessibility than West Perth. Comprising 4 levels of %u2018A' Grade commercial office space totalling 11,200m2 and a retail component totalling 732m2, ONE30 Stirling Street will provide the Perth business community with a highly specified and affordable alternative to expensive core CBD properties. 

Charter Hall will target a 4.5 Star Australian Building Greenhouse Rating and 4 star Green Star Rating and use the latest in ecological sustainable design including chilled beam air-conditioning to greatly reduce energy consumption. Design features also include 3m high ceilings, floor to ceiling façade and a large central atrium. In addition, there are 4 levels of generous car parking which provides a unique ratio of approximately 1 space per 42m2.

Charter Hall's Joint Managing Director, David Harrison said: "The Perth CBD is experiencing its strongest demand ever and the availability of prime space is at an all time low. Tenants in Perth, like every other Australian Capital, are looking for good value. The combination of highly specified services, large, flexible floorplates, close proximity to the Perth core at lower relative occupancy costs, represents excellent value". Adding further "Appointing Broad Construction Services was a natural choice given its strong track record and reputation in WA."

Broad is one of Australia's fastest growing construction companies and has helped deliver many award winning developments, recently taking out a 2007 Master Builders Association Excellence in Construction Award.

Broad Group Holdings Managing Director, Kari Rummukainen said: "We are delighted to secure the ONE30 Stirling Street contract and look forward to working with Charter Hall on this innovative and highly efficient building".

Construction works on ONE30 Stirling Street has now commenced with completion scheduled for mid 2009.

Charter Hall's National Leasing Director, Emil Joubert will co-ordinate the leasing together with our appointed leasing agents Savills and Jones Lang LaSalle.