Cancer Council WA is shifting its headquarters to Subiaco, after buying a 2,200 square metre office in the Westgate Building on Railway Parade in a deal brokered by commercial agency Burgess Rawson.
Burgess Rawson director Brian Neo said the deal was part of 10 recent transactions at the Westgate Building, which sold for a collective price of around $18 million.
He said the Cancer Council decided to purchase the office space to secure future growth options and to hedge against rental fluctuations.
The Cancer Council's administration, fundraising and directorate is currently housed at 46 Ventnor Avenue, West Perth.
Mr Neo said the remainder of the Westgate sales went to owner-occupiers in the health services and financial services sectors.
“The success of the sales campaign came down to quality of product, location, design and space planning for all of the buyers to help assist with their future business plans,” he said.
Burgess Rawson was appointed in July to sell the commercial office space at Westgate, which was completed earlier this year by construction company Northerly Group on behalf of developer Blackburne Property Group.
The $45 million building has a total of 5,000sqm of office space and was designed by Perth-based architecture firm Hames Sharley.
Meanwhile, national shoe retailer Windsor Smith is set to open a flagship store in the Hay Street Mall before Christmas, its first branded-outlet in Western Australia.
Fit-out works have begun at a 119sqm tenancy at 660 Hay Street, which was formerly home to Vodafone.
The deal was brokered by Colliers International manager of retail leasing and sales Ben Tana, who said Windsor Smith had been considering opening a Perth store for quite some time.
“They had been looking for the right opportunity for their entry to the Perth market, so they were very happy to secure a prime position on the Hay Street Mall,” he said.
The Windsor Smith deal will extend over five years, Mr Tana said.
Mr Tana also brokered a fresh deal for Vodafone, at 255 Murray Street Mall, in the former Cotton On store.
He said demand for space in the CBD’s main malls was not just limited to global fashion brands, despite significant publicity surrounding the arrival of Zara and Topshop Topman, as well as the expected entrance of H&M in coming months at the GPO Building in Forrest Place.
“These two deals illustrate the fact that local and national retailers continue to be very keen on securing the right foothold in the CBD – so the activity is covering the full spectrum of retail tenants, which is great news for the market and a real vote of confidence in Perth as a retail destination,” Mr Tana said.
Also in the commercial property space this week, Colliers has listed an three office/retail units on Albany Highway in Gosnells for sale via expressions of interest.
The three lots are being offered for sale on behalf of fast food giant McDonald’s Australia.
“Two of the units are leased to high-profile tenants, offering a secure investment, and all offer prime exposure to Albany Highway,” Colliers director of metropolitan markets Nicholas Agapitos said.
“The units are expected to achieve a yield of around 8 per cent.”
Lot 2 of the Albany Highway units is leased to Trevor's Carpets, Lot 3 to Jetts Fitness, while Lot 4 is currently vacant.
