06/03/2019 - 15:50

CCIWA places headquarters up for sale

06/03/2019 - 15:50

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The Chamber of Commerce and Industry of WA has put its Hay Street headquarters on the market, appointing CBRE and Knight Frank to sell the 7-storey, 5,240 square metre office building.

CCIWA places headquarters up for sale
CCIWA developed its headquarters in early 2000. Photo: CBRE

The Chamber of Commerce and Industry of WA has put its Hay Street headquarters on the market, appointing CBRE and Knight Frank to sell the seven-storey, 5,240 square metre office building.

CCIWA has been in the building, located at 180 Hay Street in East Perth, since it was completed in February 2000 at an estimated cost of around $12.5 million.

Business News understands a large portion of the Perry & Rosenthal Architects-designed building is underutilised, while marketing materials suggest the chamber could also be on the move, with the building pitched at owner-occupiers, investors and long-term developers.

CCIWA chief executive Chris Rodwell said the chamber was undertaking a review of its office accommodation.

"This includes looking at optons for potential sale and relocation or refurbishment to ensure we have the right environment to continue to serve our members effectively," Mr Rodwell said.

"No decisions have been made at this stage."

The decision to put the building up for sale comes after three years of major restructuring and downsizing at CCIWA, with staff numbers and revenue falling to one third of 2014 levels.

Its revenue fell 42 per cent to $27.9 million in the year to June 2018 though it did return to the black with a profit of $2.1 million after previously incurring losses.

The fall in staff numbers to 150 means CCIWA is now ranked as the second largest industry association in WA on the BNiQ database, behind the Australian Medical Association. It had previously been number one on the list for many years.

An expressions of interest campaign for the CCI building will close on March 14.

Meanwhile, CBRE is also marketing a Coles-anchored shopping centre in the city's northern suburbs, in the Trinity Village Shopping Centre in Alkimos.

The centre is located on a 2.16-hectare plot and was completed last year.

Coles has a 15-year lease.

 

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