The university is set to purchase a nine-storey office building in Kings Square from Dexus, in the first significant office deal in more than a year.
Edith Cowan University is set to purchase a Perth office building from Dexus for $72.3 million, in the first significant office deal in more than a year.
The university, which recently opened its $853 million Perth City Campus, has inked a deal to buy 10 Telethon Avenue from institutional giant Dexus.
While neither party would comment on the deal, sources confirmed that ECU is looking to occupy the building, which sits within metres of its new campus.
The nine-storey asset is one of three buildings owned by Dexus in the Kings Square precinct, which sits between Perth and Northbridge.
Dubbed KS3, the property is occupied by John Holland, engineering firm SLB Australia (formerley Schlumberger) and building fit out specialist SHAPE Australia WA.
Business News understands the building is being sold with a short weighted average lease expiry, which means ECU could move in shortly.
It is unclear how much time each of the tenants have on their leases, but John Holland signed a 10-year lease for the building in 2017.
The property has 1,150 square metre floorplates, a gymnasium and a childcare centre.
The total floor area of the building is 9,200sqm.
The Kings Square precinct also contains several retail and hospitality tenancies including Brew Ha Coffee House and Market Grounds.
The transaction, which is due to settle in coming months, comes amid a subdued office market in recent years.
The last major Perth CBD office transaction was Oceania Capital’s $75 million purchase of 66 St Georges Terrace in late 2024.
