In a vote of confidence for Perth’s suburban office market, a Herdsman office building has welcomed a new tenant.
Office Solutions IT has signed a six-year lease on the 2 Gould Street property, relocating from its previous address at 46 Hasler Road in Osborne Park.
CBRE’s Lachlan Lewis and Colin Gilchrist negotiated the 1,0131sqm whole building lease for a commencing gross rental of around $200 per square metre with minimal incentive.
Formerly occupied by Retravision Corporate, the building struggled to attract a tenant following the retailer’s vacancy in late 2013.
Mr Lewis said the owners committed significant capital to upgrade the building, with it fully leased before works were completed.
“It was a huge call for the owners when, in the absence of a new tenant, they planned and committed to a major building refurbishment and upgrade worth approximately $200,000,” Mr Lewis said.
“The significant upgrade impacted bathrooms on both levels, ceilings and new window treatments – while externally, the building has new tenant carpark and low maintenance and water wise landscaping.”
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.