A $1.2 million refurbishment is being undertaken on 31 Ventnor Avenue, West Perth, bringing the building to A-grade status. Security Capital Corporation and Property Bank Australia have started work on the four-storey building, owned by Scoreline Investments, which is equally owned and directed by Mark Clohessy and Rodney Shea, who bought the building for $5.2 million in 2003. The building comprises a net lettable area of about 1928 square metres. Perman and Associates and CB Richard Ellis have been jointly appointed to lease the property. Perman and Associates agency principal Bob Perman said few buildings in West Perth could boast a 100 per cent occupancy rate since inception, and that one floor had already been leased to a national tenant. CB Richard Ellis office leasing negotiator Luke Bray said that, with A-grade vacancy rates at an all time low of 2.1 per cent, the new office space would be keenly sought after, with a major tenant to be offered naming rights.
