Skip Ribbon Commands
Skip to main content

News release


Continuing demand for West Perth space augers well for new four-level West Perth office building despite vacancy up-tick

4 Star Green Star rated Parliament Place building set to add 1,850sqm to district’s office market

PERTH, 14 November 2012 – A small increase in West Perth’s vacancy rate - from 3.8 per cent to 4.6 per cent - is not expected to have any significant impact on demand or rental prices in the resources-dominated precinct, according to Jones Lang LaSalle’s latest market overview.

Ross Skelton, Manager, Office Leasing at Jones Lang LaSalle, says that both prime and secondary gross effective rents have been rising since about mid-2010 and are still on an upward trajectory.
“About half of the new supply due this year is already committed and we expect this quarter to be the ninth consecutive quarter of rental growth with the trend continuing into 2013,” he said.
Jones Lang LaSalle, along with Knight Frank, are responsible for the leasing of the district’s newest 1,850sqm four level office building at 34 Parliament Place.
“Prime net effective rents are now averaging $503 per sqm after recording their ninth consecutive quarter of growth,” said Mr Skelton.
The 4 Star Green Star – Office Design v3 rated building will add much-needed floor space in the already constrained West Perth office market.
According to Mitchell White, Manager, Office Leasing at Jones Lang LaSalle, minimal new supply has come to the market over the past two years in the resources-dominated precinct.
"We have already received a positive response from a number of prospective tenants who appreciate the prestigious location and column free efficient floor plate and who understand the continuing tightness of the West Perth market,” said Mr White.
“Added to this is the offer of 15 secure undercover car bays and negotiable signage rights, as well as  its prestigious location opposite the newly refurbished Premier’s office at Hale House,” said Greg McAlpine, National Director Office Leasing, Knight Frank.
Mr McAlpine said that in addition to extended public parking in Parliament Place, the location provided fast access to the nearby freeway and Perth’s major road network, as well as walk-up access to local restaurants and cafes.
The building is due for completion this month.​