Nicola Trotman | 13 November 2012

Heritage Perth office refurbishment attracts new tenants

A heritage-listed building at 88 William Street in the Perth CBD has received a full makeover which has enabled the leasing of its upper levels that had been vacant for many decades.

The refurbishment commenced in late 2010 and involved the restoration of the building's façade and complete removal of all fire-damaged interiors.

New tenant facilities were installed including showers, bicycle parking, lockers, onsite car bays and a goods lift was also incorporated.

Owned by Winston Holding Pty Ltd. and Ayoman Pty Ltd, the building's estimated $15 million restoration was undertaken by heritage architects Palassis.

After a fire destroyed the previous building Economic Store, construction on the new building began in 1922 and was completed by early 1923.

The six level building designed by Talbot Hobbs has been known as Walsh’s Building since the Walsh’s Menswear store opened on the ground level.

The basement of the building continued to operate as a food court until a 2007 fire caused extensive damage.

CBRE office services senior director Andrew Denny oversaw the leasing campaign of  88 William Street.

Insurance brokers CKA risk solutions have leased the top level and Perth accountants Nexia have leased level three.

A Perth mining company has leased level two and level one has been leased to Solid Gold for a mixed office and retail use.

“The refurbishment of this building has turned derelict unused space into a high value and vibrant end product," Andrew Denny said.

Much of 88 William Street was vacant for at least 30 years, he said.

“The success of this project can be judged by the property being fully leased prior to the practical completion of the works.”

The typical floor size is approximately 1,500 square metres and rent is below $525 per square metre.

The building, which has a 7,500 square metre net lettable area, is located on the corner of the Hay Street Mall.

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