AMP Capital tower attracts interest

AMP Capital has secured 17 commercial tenancies in the past 12 months as work continues on the revamp of its 30-storey building on 140 St Georges Terrace. 

The tower was built in the 1970s and has recently undergone a ‘repositioning project’, with a soon-to-be completed facelift of the lobby to include new formal sitting areas, a business lounge and a cafe.

AMP Capital has also invested in the fitout of several upper-floors, suitable for medium-sized businesses.

Managing director, office and industrial, Luke Briscoe said more than 70 groups had inspected the building since the start of this year, which he said represented a significant increase in interest compared with 2016.  

“While the market overall is still showing signs of stress, there has been a real upturn in demand for the Perth CBD office market during 2017,” Mr Briscoe told Business News.

“Businesses currently located in the suburbs are a large proportion of potential tenants investigating properties in the CBD, together with new entrants to the Perth market. Both groups are taking advantage of the generous inducements from building owners.”

As part of the relaunch of the building AMP Capital has also introduced a range of incentives, including a ground floor concierge, free yoga and boxing classes, as well as up to date end-of-trip facilities.

“We’re focused on creating an environment that delivers an exceptional experience for our customers, their staff and guests,” Mr Briscoe said.

“Doing this ensures that those businesses looking for new space in Perth will consider AMP Capital and 140 St Georges Terrace.”

Of the 17 new leases signed across the building’s 28 tenant floors, which were negotiated in partnership with CBRE senior director Andrew Denny, four were renewals for existing tenants.

The remainder of deals represented new business leases and include global IT companies Tieto and Hewlett Packard, Environmental Resources Management, Cottee Parker Architects and investment management company Challenger.