Property Council welcomes Brookfield and Chevron partnership to build one-of-a-kind tower
The Property Council welcomes the announcement that Brookfield Properties will purchase, develop and lease back 1 The Esplanade, Elizabeth Quay to Chevron Australia.
The 54,000 square tower will have a range of amenities including retail, hospitality, a gymnasium, and a childcare located on the lower podium levels with a native landscaped roof terrace. A two-level basement will contain car parking, extensive bicycle parking and state of the art end-of-trip facilities.
Chevron Australia has signed a commitment to lease approximately 78 per cent of the office building for a 15 year period as the anchor tenant. Construction of the $360 million project is due to begin next year, with the tower expected to be completed in 2023.
“The news has set the town alight with talk of what this means for the Perth commercial office market.” WA Executive Director, Sandra Brewer said.
“This is the largest current pre-commitment in the Perth market and signals a bright future for Perth commercial property,
“Congratulations to all those involved on this world class project.” Ms Brewer said.
To view the State Government’s media release click here.
To view a video show casing the development click here.