Space management

PARKWATER Serviced Offices will consolidate its Nedlands and West Perth operations into one with the $2.2 million purchase and $1.2 million refurbishment of 45 Ventnor Avenue, West Perth.

The purchase is the company’s biggest in its seven-year history and will put the office space managed by Parkwater at 3000sqm.

Parkwater director Robynne McTaggart said about 30 tenants in the Nedlands and Havelock Street, West Perth, premises would relocate to the new building when refurbishment works were completed in December, taking up 85 per cent of the 1500sqm of net lettable area.

“We are combining the offices into one location. Nedlands has not been as lucrative as we would have liked and we wanted more of a presence in the West Perth area,” Ms McTaggart said.

The Havelock Street and Central Park offices had performed well, and Parkwater now was looking to recreate that success in Ventnor Street, Ms McTaggart said.

West Perth was the perfect location for many professional firms, such as accounting or recruitment firms, that did not feel they needed a CBD address.

Clients can lease 50sqm for $250 per sqm at Parkwater Serviced Offices. Other services, such as additional secretarial support and conference room hire, costs extra.

Utilities, insurance, reception and several other costs are included in the rent.

Parkwater marketing manager Liesel Lavender said the demand for serviced offices had grown markedly in recent years and attributed this to the flexibility a service office provided.

“We cater to the smaller end of the market, for businesses with between one and 10 people … and the businesses can expand to take up more space or cut back if they need to,” Ms Lavender said.

“Traditional leases will not let you decrease the amount of space. You have to take a five-year lease even if you find you don’t need all of the space.”

The building’s refurbishment began three weeks ago and Ms McTaggart said the aim was to present tenants with a new-looking building.

“All of the facades are being upgraded and changed and all of the interior will be new, we are really just working with a shell and starting again,” she said.

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