Kings Square fully leased as SJOG moves in

Dexus announced it secured St John of God Health Care as a tenant at Kings Square, resulting in the entire three-building office complex being 100 per cent leased.

St John of God Health Care will occupy 5,232 square metres of space at KS1, which is located at 556 Wellington Street.

The private hospital operator will join a diverse tenant mix, which also includes Police and Nurses Bank, BG&E and the Commonwealth Government.

Kings Square is now fully leased 19 months prior to the expiry of the 5-year rental guarantee in place since the completion of the development in November 2015.

Dexus executive general Manager of offices Kevin George said the company was pleased with its investment in Kings Square, which it purchased from Cimic Group in 2013 for $435 million.

“The asset [King Square] has performed well throughout a challenging period in the Perth market and will benefit from further investment in the precinct as Perth continues its recovery,” Mr George said.

Dexus head of leasing Chris Hynes said St John of God Health Care joins a trend of established suburban businesses centralising to the CBD.

“Around 89 per cent of our new office customers at Kings Square having relocated to the CBD.”