Woodside goes glass

SYDNEY architects Kann Finch has provided Business News with an indication of what Perth can look forward to when the new $250 million Woodside building is completed in August 2003.

The glass tower, on the corner of St George’s Terrace, Milligan and Hay streets, will add a further 46,000 square metres of space.

More than 400 workers are expected to be employed by builder Baulderstone Hornibrook on the 26-storey tower.

A five-star hotel will be built on the same site that will house Woodside, which has agreed to lease 32,500 square metres under a 15-year lease at a starting rent of $360 per square metre net.

The new building will go some way in fulfilling strong demand for new tenancies, with premium grade vacancy rates

Vacancy rates in Premium Grade buildings fell sharply in the last six months from 4.2 per cent to 2.6 per cent, according to the Property Council’s Office Market Report released this week.

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