A West Perth office building is quickly filling up following leasing deals to three tenants

The A-Grade six-level building at 1100 Hay Street, which has around 7,400sq m of space in total, is now half full, with all of level two and six leased, and only three consecutive floors left, being levels three to five.

Three tenants have recently leased space totalling around 2,340sq m, with Galena Mining and 29 Metals committing to 550sq m each, while a third international tenant has leased 1,240sq m, with asking rates from $385/sq m per annum.

The deals, which saw the tenants lease space on five to 10-year terms, were negotiated by Greg McAlpine and Rick McKenzie of Knight Frank on behalf of the property owner The Woss Group.

Mr McAlpine said the leasing deals demonstrated that demand for office space in West Perth was continuing to rise, with tenants leasing space and vacancy declining.

“The West Perth market is showing good levels of enquiry, with the vacancy rate finally falling from a historic all-time high of 22.1 percent in July 2020 to 18 percent in January 2022.

“As the strong demand continues we foresee that this vacancy rate will fall even further this year.

“The Hay Street building is particularly sought after as tenants seek quality space, with ample parking onsite.

“The building has undergone an extensive refurbishment to provide high quality finishes along with operational excellence.”

Mr McKenzie said 1100 Hay Street was positioned at the gateway to West Perth, offering tenants CBD amenity without the price tag.

“The building amenity is also a drawcard, with a tennis court and entertainment area, modern end-of- trip facilities, upgraded lifts and refurbished bathrooms.

“The property offers outstanding views from every floor with a combination of quality fitted tenancies and clear refurbished space on offer, all of which receive a high level of natural light throughout the floor.

“The central core and column-free nature of the floors provides for a highly efficient layout, whilst maximising the outstanding views of the nearby CBD skyline, Parliament House and surrounds.”