A fund managed by Primewest has signed a deal with the federal government to develop a 4,500-square-metre office building in Bunbury.
A fund managed by Primewest has signed a deal with the federal government to develop a 4,500-square-metre office building in Bunbury.
Designed by Cox Architecture, the office will be tenanted by Services Australia (the Department of Human Services) and its circa 370 employees.
The four-storey A-grade office, which will be built at 22-28 Stephen Street, is expected to be completed by mid-2022, with Primewest additionally planning to create a park on the land surrounding the new development.
Primewest national leasing manager Jemma Hutchinson said the deal had been two-years in the making.
The project is yet to go to tender and the cost was undisclosed.
“This project will leave a lasting legacy on the Bunbury CBD footprint and create a huge number of jobs at a time when employment and private investment is greatly needed,” Ms Hutchinson said.
“We have worked for a long time to secure this deal and are extremely optimistic about the further development of the area with negotiations already underway with potential tenants for the remainder of the site.
“Today’s announcement that Services Australia has made a 10-year commitment is very positive news and highlights the ongoing optimism in our state and economy.”
Ms Hutchinson said the project delivery phase was expected to generate more than 145 jobs, with approximately 12 per cent of the onsite workforce to be new apprenticeships.
Primewest director Jim Litis said the commonwealth government was a major tenant across the organisation’s property portfolio.
“We strongly value our relationship with the various government agencies we partner with and look forward to delivering a quality workplace environment that will support the delivery of their services to the Western Australian community” he said.
“Primewest has a long and proud history in Western Australia, with a diversified portfolio of commercial office, retail, agriculture and logistics properties located throughout the state.”
Bunbury Mayor Gary Brennan said the project would add to the vibrancy and vitality of Bunbury’s central business area and acknowledged the long association and confidence Primewest had in Bunbury and its future growth.
A Primewest fund also owns the adjoining Bunbury Centrepoint shopping centre.
The ASX-listed company has about $4.9 billion of assets under management across Australia, as well as in the west coast of the United States.
Primewest announced earlier this week it had secured two new tenants at its 251 St Georges Terrace office building, which has partly undergone refurbishment, with the ground floor and lobby set for a revamp this year.
Another office project in Primewest’s pipeline, is the $80 million second stage of its Joondalup precinct, with plans to build a 12,000sqm building.
