24/04/2020 - 12:32

Pilbara Ports finds Perth CBD home

24/04/2020 - 12:32

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Pilbara Ports Authority is shifting its Perth office from West Perth to the CBD, continuing the tenant exodus from the near-city suburb as it moves its premises to a full floor at 999 Hay Street.

999 Hay Street was developed by Qube Property Group. Photo: CBRE

Pilbara Ports Authority is shifting its Perth office from West Perth to the CBD, continuing the tenant exodus from the near-city suburb as it moves its premises to a full floor at 999 Hay Street.

The 10-year lease was brokered by CBRE on behalf of landowner Fenestella Pty Ltd, an entity associated with 999 Hay Street developer Qube Property Group.

Pilbara Ports will occupy the fifth floor of the building, in a 1,485 square metre tenancy.

CBRE senior director of office leasing Luke Bray said the port authority was attracted by the building’s large floor plates, access to amenities and public transport, as well as its modern technology.

“The building’s location also provided Pilbara Ports more convenient access to their clients,” he said. 

Mr Bray said the deal also continued a long-running trend in the Perth commercial office market, with tenants shifting from West Perth to the CBD.

In recent weeks, HHG Legal shifted from Parliament Place in West Perth to Cloisters at 863 Hay Street, in a deal brokered by JLL.

Property Council of Australia data showed 4,625sqm of office space was vacated in the six months to December 2019.

West Perth’s vacancy rate increased from 16.9 per cent to 17.5 per cent over the same period, making it the worst performing non-CBD market in the country.

Prior to COVID-19, vacancies had been tipped to decrease in West Perth by around 2,000sqm in 2020, as landlords remove properties from the market to undertake refurbishments.

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