iiNet has secured the naming rights for Luke Saraceni’s Subiaco office tower development as part of a deal whereby the internet service provider will leave its Adelaide Terrace address during 2009.
iiNet has signed a lease for 5,000 square meters of office space, which represents more than half of the space the building will offer when it is completed at the end of next year.
iiNet has enjoyed strong growth during the past few years, and its staff is spread across two separate offices on Adelaide Terrace in Perth.
iiNet managing director Michael Malone said the decision to leave the city was partly made so that his employees could be housed under one roof, but also because he wanted the business to be in a more suburban location.
“Most of our staff are in customer service so we really don’t need to be in the city,” Mr Malone said.
“We needed to be near public transport and we are also a 24-hours-a-day, seven-days-a-week operation, so we wanted to be in an area where there were places open late at night.”
iiNet currently occupies 4,000 sqm of office space and its lease expires in mid 2009.
Mr Malone said the new Subiaco offices would provide good room for growth.
Mr Saraceni’s Subiaco office development is located at the west end of Hay Street near the Ace Cinemas complex.
The office building will provide 9,000sq m of office space, with two major international consulting agencies reported to have signed pre-commitment for some of that space.
The development will also include 1,800sq m of retail space, which is likely to include a gourmet supermarket, chemist, restaurant, coffee shops and clothing retailers.
The office building is due to be completed by the end of 2008.
It is understood that the office space is being leased for about $350/sq m.
