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Exchange Plaza,
2 The Esplanade, Perth, WA
Exchange Plaza is a landmark premium grade office tower,
which was completed in 1992. The building has 31 office levels,
which have extensive views over the Swan River, parklands
and the Supreme Court Gardens.
With the Australian Securities Exchange in the building,
Exchange Plaza is at the financial core of the Perth CBD.
The building has five basement car parking levels and Perth’s
prestigious Weld Club is also located on the site.
Location: Perth CBD, WA
Acquisition date: June 2003
Ownership/title: 50%/Leasehold (Expiring 2122)
Cost including additions: $70.1 million
Independent valuation: June 2009
Valuation/($/m2): $139.0 million ($8,133/m2*)
Capitalisation rate: 7.75%
Discount rate: 9.25%
Net lettable area: 34,181m2
Car parking spaces: 227
Major Tenants N LA (m2*)
Australian Bureau of Statistics 4,840
Blake Dawson Waldron 2,668
Paterson Ord Minnett 2,073
Inpex Browse 2,050
Lease expiry profile
Vacant 0%
FY10 10%
FY11 11%
FY12 12%
FY13 12%
FY14+ 55%
* 100% interest.
Durack Centre,
263 Adelaide Terrace and 2 Victoria Avenue, Perth, WA
The Durack Centre is located on the corner of Adelaide Terrace
and Victoria Avenue in the CBD eastern precinct.
The property comprises a 13 storey building with large 1,300m2
floor plates, two basement levels and on-grade parking for
100 cars. The building enjoys extensive views across the Swan
River and also includes EB Johnston House, a restored 1890s
brick mansion.
A second building at 2 Victoria Ave was completed recently,
and is anchored by Shell. The A Grade, 4 level office building
was awarded WA’s first 6 Star Green Star rating by the
Green Building Council of Australia.
Location: Perth CBD, WA
Acquisition date: October 2006
Ownership/title: 100%/Leasehold
Cost including additions: $98.1 million
Independent valuation: June 2009
Valuation/($/m2): $139.0 million ($5,552/m2)
Capitalisation rate: 8.50 - 8.75%
Discount rate: 9.50 - 9.75%
Net lettable area: 25,038m2
Car parking spaces: 169
Major Tenants N LA (m2)
Sinclair Knight Merz 10,710
Shell 5,718
Lease expiry profile
Vacant 13%
FY10 17%
FY11 0%
FY12 2%
FY13 3%
FY14+ 65%
BankWest Tower,
108 St Georges Terrace, Perth, WA
BankWest Tower is a landmark, premium grade office building
comprising 52 levels of office accommodation, the Palace Hotel
complex and basement parking over two levels for 122 vehicles.
Completed in 1989, BankWest Tower is located at the corner of
St Georges Terrace and William Street, a premier CBD location,
and offers extensive views of the Swan River, parklands and the
Supreme Court Gardens.
Location: Perth CBD, WA
Acquisition date: April 2007
Ownership/title: 50%/Freehold
Cost including additions: $146.9 million
Independent valuation: June 2009
Valuation/($/m2): $132.5 million ($6,705/m2*)
Capitalisation rate: 7.75%
Discount rate: 9.00%
Net lettable area: 39,525m2
Car parking spaces: 122
Major Tenants N LA (m2*)
BankWest 39,525
Lease expiry profile
Vacant 0%
FY10 22%
FY11 0%
FY12 2%
FY13 0%
FY14+ 76%
* 100% interest.
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