WHILE the announcement of three major building projects has provided an enormous boost to the profile of the city’s west end, there has been a resurgence of interest in Adelaide Terrace and the city’s east end.
Just one week after WA’s biggest Internet service provider, iiNet, announced it was moving from the prime location of the QV1 building to Durack House further east down the Terrace, Anglicare has announced it will soon be moving into an east-end address.
Anglicare’s current West Perth premises, the Geoffrey Sambell Centre, is to be demolished to make way for the construction of insurer NRMA’s new headquarters.
The Anglican Church’s community services division bought 41-43 Adelaide Terrace for $2.85 million, in a deal brokered by Chesterton International director Bob Perman.
Coupled with iiNet’s move, Anglicare’s relocation could spark a revival of the under-performing Terrace.
“Rents in the CBD and West Perth have continued to escalate, while the eastern end of the city remained relatively stagnant,” Mr Perman said.
“With rental pre-commitments in the CBD at $360sqm and $265sqm in West Perth we have a benchmark for future rental levels in these areas.
“We will now see significant growth along Adelaide Terrace as it re-establishes itself as a dynamic city location”
East Perth Redevelopment Authority chief executive director Tony Morgan said the two relocations signalled a positive future for Adelaide Terrace, and one that EPRA was looking forward to having an involvement in.
“EPRA has become involved with land to the north of, and on, Adelaide Terrace, namely the Police Headquarters and Department of Transport sites,” Mr Morgan said.
“I would expect to see the introduction of commercial and residential opportunities in the Adelaide Terrace area, which forms a key part of the eastern gateway.
“The eastern end is not likely to duplicate the west end, it would be smaller buildings with a greater residential component.”
Mr Morgan said plans for the two EPRA sites were still in the early stages.
