Allendale Square goes underground

Allendale Square goes undergroundThe first underground retail destination in Perth’s CBD opened last week, after a year-long renovation that aims to attract the broader community and cash in on the extended-hours economy.Mirvac has invested more than $20 million to transform the 32-storey office tower with Underground, a food, retail and office precinct, now extending below St Georges Terrace.Andrew Butler, Mirvac’s group executive of office says the refurbishment “showcases our commitment to Perth” with an “exceptional working environment and office precinct for tenants and the community”.”As the only underground retail destination in the Perth CBD it offers a relaxed dining experience for workers and visitors to the CBD,” Butler adds.Two spacious glass retail podiums have been created along St Georges Terrace, with 18 tenants taking up space in the 2,2 sqm food court including a dumpling house, espresso bar, bakery, beauty salon and barber.When it opened in 1976, Allendale Square was Perth’s tallest skyscraper.At 27,980 sqm, Allendale Square is more than 95 per cent leased, with key tenants including law firms MinterEllison and Francis Burt Chambers.In comparison, the vacancy rate in Perth’s CBD office vacancy rate rose from 21.8 per cent to 22.5 per cent during the six months to January 2017, according to the Property Council’s January Office Market Report. Nationally, the average vacancy rate remained steady at 10.5 per cent. The entrance to the office building has been upgraded with a dramatic glass canopy designed by award-winning local architect, Christou Design Group. The upgrade offers better access to the retail precinct with new escalators and entranceways, improved wayfinding, new retailers flanking the Sherwood Court entrance, more seating and free wifi. To further activate the public plaza, artwork by Anne Neil celebrates the rich history of Perth’s CBD. The upgrade of Allendale Square has contributed to the revitalisation of Perth’s CBD through improved pedestrian linkages from St Georges Terrace to Elizabeth Quay, creating a bustling thoroughfare with access to major transport hubs in the city. The Mid-Year Office Market Report will be launched on 3 August around Australia.