240 St. Georges Terrace, Perth

Overview

240 St. Georges Terrace is a modern Premium office tower located in the prestigious western-end of the Perth CBD at the intersection of St. Georges Terrace and Milligan Street.

The 24 level office tower is highly specified and provides large, efficient floor plates ranging from 2,360 square metres in the low rise to 1,656 square metres in the high rise. The low-sill windows maximise natural light and feature views over Kings Park, the Swan River and the Indian Ocean to Rottnest Island.

There are a number of convenient tenant amenities including shops and a bar on the ground floor, a garden plaza and function area, a 120-seat auditorium and conference facility, a fully equipped 24/7 gym and end-of-trip facilities.

The property is well connected to public transport with Elizabeth Quay Railway Station and Perth Railway and Underground stations nearby; while motorists entering via the city’s major motorways have access to a basement car park with 247 spaces.

Property Information

  • Building typePremium Grade - office
  • Year built2003
  • TitleFreehold
  • Metro areaPerth CBD
  • ZoningCentral City Area
  • Site area (hectares)0.6
  • Lettable area ('000sqm)47.1
  • Lettable area adjusted for ownership ('000sqm)47.1
  • Number of buildings1
  • Typical floor area (sqm)2,000
  • Car parking spaces247
  • OwnerDXS
  • Ownership (%)100
  • Major tenantWorley
  • Acquisition dateJanuary 2001
  • Book value at ownership ($m)491
  • Independent valuation dateDecember 2019
  • Independent valuation at ownership ($m)491
  • Market cap rate (%)5.75
  • Initial yield (%)5.4
  • Leased by area (%)95
  • Weighted lease term by income (years)7.3

  • NABERS Energy rating (with Green Power)Exempt
  • NABERS Energy rating (without Green Power)Exempt
  • NABERS Water ratingNR
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