Dexus Lands Major Perth Office Lease


Dexus Property Group has secured 14,000sq m in leasing deals at its Kings Square commercial precinct in central Perth.

The federal government is set to become an anchor tenant within the group's 556 Wellington Street hub, known as Kings Square 1.

The building is tallest of three office towers within the group's precinct, offering end-of-trip facilities, access to a gym and childcare centre, public open space, retail offerings and convenient transport connections.

The building, aside from Thiess Mining, been mostly empty since it was finished in mid-2015. Thiess was joined by The Brand Agency in October last year.

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Dexus Property Group's Kings Square precinct is part of the Perth City Link precinct aiming to reconnect the CBD to Northbridge.
Dexus Property Group's Kings Square precinct is part of the Perth City Link precinct aiming to reconnect the CBD to Northbridge.

As well as the government's 8,459sq m deal, international engineering firm BG&E has taken 2,448sq m and P&N bank 3248 sq m bringing the total to over 14,000sq m of space leased.

Dexus Portfolio Manager Tim McGuane was pleased to welcome our new customers to Kings Square who will move in progressively over the next six months.

“With Perth undergoing a mining employment recovery, we are seeing more optimism from the broader business community wanting to invest in their workplace to attract and retain talent,” McGuane said.

Occupancy will now rise to 89.7 per cent at Kings Square, which provides in excess of 50,000sq m of office and retail space.

Digby Sutherland joint managing director of Sheffield Property negotiated the leases.

“These deals continue the trend of companies relocating from fringe CBD and suburban locations to Kings Square and setting themselves for better times ahead by relocating to Prime buildings,” Sutherland said.

Kings Square is part of the Perth City Link precinct that reconnects the CBD to Northbridge following the King Street extension which was completed in early 2018.

The City Link project has sunk the existing rail line and Wellington Street Bus Station which has separated Perth and Northbridge, opening up 13.5 hectare of developable space for residential and commercial offerings, while also creating a world-class transport hub.

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