ICWA leases 6,700sqm at Capital Square Two

20 March 2024

A new tenant will be moving into the Capital Square 2 building in the Perth CBD following a subleasing deal.

The Insurance Commission of WA (ICWA) has leased 6,700sqm in the 15-storey tower, which has a total of 23,000sq m of office space.

The precinct in which Capital Square 2 is located comprises three main towers and various tenant amenities on the corner of Mount Street and Spring Street in the Perth CBD.

Tower Two is now fully leased with the remainder of the building occupied by BDO, Allens, Development WA, WSP, Jacobs and others.

Knight Frank agents Ian Edwards and Greg McAlpine introduced ICWA to the building, which subsequently took a ten-year lease.

ICWA was represented by Mark Stott from Propertysolve.

ICWA will be relocating from Forrest Centre at 221 St Georges Terrace where they have been a long- term tenant.

The Capital Square buildings offer tenant amenity including end-of-trip facilities, a gymnasium, creche and retail offerings, along with 360 tenant car parks and 300 public car parks.

The office space offers flexible workspaces, sweeping views and abundant natural light.

Knight Frank’s Ian Edwards said: “It was a pleasure working with all the parties to achieve such a great result.

“It was a great outcome to get all four floors leased to such a high-quality tenant.

“ICWA liked this space due to its amenity and large floor plates as well as its location, with proximity to public transport and direct freeway access.”

Knight Frank’s Greg McAlpine said: “Demand for quality office space continues to be strong in the Perth CBD, evidenced by the city being the only one to see a fall in vacancy over the past six months, according to the latest Property Council of Australia figures.

“Office space demand in Perth will remain strong due to the burgeoning resources industry and despite the work from home trend.”