Charter Hall secures anchor tenant at WorkZone Perth
23/08/2011 - PDF Version Available
Charter Hall Group today announced the execution of an agreement for lease with Leighton Contractors Pty Limited (‘Leighton') for approximately 21,150 square metres of net lettable area (NLA) in Charter Hall Opportunity Fund No.5's (CHOF5) proposed WorkZone office development at 202 Pier Street, Perth.
The agreement sees Leighton commit to 76% across the development's two buildings (approximately 15,300 square metres in Building A and approximately 5,840 square metres in Building B). WorkZone will be Leighton's head office for its Western Australian operations.
Charter Hall's Joint Managing Director, David Southon, said: 'We are pleased to have secured Leighton as the anchor tenant of WorkZone; our latest commercial office development in Perth. The agreement triggers the commencement of construction works on the project, with Broad Construction Services (WA) appointed as the design and construct contractor.
'WorkZone has been designed to meet the growing demands of tenants through providing a high quality workplace with a focus on excellent indoor environmental quality, flexible floor plates and sustainability, providing tenants with a platform that reflects their culture and sets them apart from their competitors.
'It was this design and convenient CBD fringe location that attracted Leighton to WorkZone,' Mr Southon said.
The building has been designed by Fitzpatrick + Partners and on completion, will comprise two seven level ‘A Grade' buildings totalling approximately 28,000 square metres of office and ancillary retail space with large efficient floors of between 1,950 and 2,440 square metres, designed with a side core. Charter Hall will be targeting 5 Star Green Star Office As-Built V3 and 5 Star NABERS Energy base building ratings.
Interest in the remaining space is solid, with Charter Hall's leasing team in discussions with a number of prospective high-calibre tenants. Three contiguous 1,950 square metre floors and a ground floor 656 square metre office tenancy remain available to lease as well as 265 square metre of retail space.
The agreement is subject to the finalisation of the construction debt finance with construction works anticipated to commence within the next few weeks. The project is expected to be completed in September 2013.