JUMPING FOR JOY AT JOONDALUP – 31 AUGUST 2016

Helen Shield – Wednesday 31 August.
Posted in the West Australian Property Section Page 8. 

 

Not all CBD office leasing agents will be sharing Sheffield Property’s delight at stitching up one of the biggest State Government leasing deals since 2010 – at Joondalup.

The last thing an already depleted CBD, struggling with a 25 per cent vacancy rate, needs, the argument goes, is to lose 800-plus city office workers and be stuck with an extra 10,000sqm of unloved, empty office space.

The construction is expected to generate about 340 jobs, Primewest director David Schwartz said.

Sheffield Property’s Digby Sutherland & Mark Clapham said the deal would give the State Government “long term occupancy savings”.

The State Government has signed a 15-year lease for 9,600sqm in the soon to be started building at 8 Davidson Avenue. It is said to be the biggest WA Government leasing deal since 2010, when it signed for 13,000sqm in the Herdsman Business Park.

Mr Sutherland said many of Perth’s suburban activity centres missed out on resources boom-generated growth in the past decade.

 

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