Works have been completed at an office building in the heart of Perth’s Legal centre.
The newly refurbished eight-level building comprises 4586 square metres of net lettable area, with an open-plan office space between 200 and 600 square metres.
In line with Quintessential Equity’s commitment to sustainability, refurbishment works were carried out with a focus on reducing the building’s carbon footprint and running costs. This incdlues the construction of a new conference facility as well as lift modernisation and a mechanical regeneration – aiming to achieve a minimum 4.5 stars NABERS base building energy rating. Upgrades were made to bathroom areas, too, such as modern fixtures and water and electricity saving facilities.
With a focus on tenant wellbeing, the multimillion dollar refurbishment at 8 St Georges Terrace includes a new ground floor lobby and end-of-trip facilities as well as upgrades to design and functionality.
Quintessential Equity purchased the fully vacant building for $9.25 million in 2018, allowing it to buy into Perth at the lower end of the market. Jump forward to 2020 and continued uplift is predicted for the city’s office market, with the Property Council of Australia reporting positive tenant demand and vacancy decreases over the past six consecutive periods.
“We’ve made a significant investment upgrading the building to provide better facilities for tenants in a more modern, functional space,” says Shane Quinn, Quintessential Equity managing director.