BCG in office move

Boston Consulting Group is set to move to QV1, after inking a deal to occupy the 32^nd floor of the St Georges Terrace building.

BCG has signed a seven-year lease for 1,352 square metres of space in QV1, and will move from its current Perth office at 108 St Georges Terrace.

CBRE director advisory and transaction services Luke Bray said BCG was drawn by the quality of QV1, with the space being newly refurbished.

“Boston Consulting Group was attracted to the prestige and quality of QV1, as well as the larger floor plate, which promotes synergy and collaboration by enabling staff to come together on one floor,” Mr Bray said.

QV1 general manager Theo Smyrniotis said the deal highlighted the lure of office accommodation that included more than just work space.

“What attracted BCG to QV1 was not just the premium quality and finishes offered through the building, but the array of employee benefits and connected community it provides,” he said.

“This includes access to wellness facilities such as basketball courts and a 24-hour gym, green spaces in our community garden, or our free EV car share service available for all tenants.”

Representing BCG in the deal, CBRE associate director tenant advisory Zydin Jassat said there was a consistent trend among occupiers to align with buildings that offer high-quality amenities, robust ESG initiatives and open-plan, light-filled floorplates.

“The world is changing, and there is a growing demand for buildings that meet these criteria. In the Perth market, QV1 is a leader and it was evident that this was the perfect fit for a world-class organisation like Boston Consulting Group.”

The transaction is the latest in a string of lease deals at the building, with Steinepries Paganin, BP, JERA Australia and Euroz Hartleys announcing their moves to QV1 recently.   

The owners of 108 St Georges Terrace, Realside and Lendlease Group, are seeking a new anchor tenant, following South32’s announcement it would move to the adjacent Enex building.

The 51-storey tower, developed by Alan Bond in the 1980s, was recently renamed Palace Tower in a nod to the former hotel at its entrance.