Kings Square

Wellington Street, Perth

Overview

Kings Square comprises three A-Grade office buildings located in Perth’s emerging mixed-use precinct adjacent to the CBD. The buildings comprise Kings Square 1 (19 levels), Kings Square 2 (11 levels) and Kings Square 3 (9 levels) providing in excess of 50,000 square metres combined office and retail space.

Kings Square is surrounded by the city’s entertainment and cultural precincts including the newly completed Perth Arena and Northbridge’s William Street and Perth Cultural Centre.

The King Square precinct provides unprecedented connectivity being at the heart of Perth's transport hub of underground rail and bus infrastructure, and the junction of four commuter cycle paths.

At its heart lies a vibrant plaza with financial and retail services, bars, restaurants and cafés. There are also extensive end-of-trip facilities including hundreds of bicycle racks, lockers and fully-equipped shower and change facilities, as well as a large onsite childcare service.

Property Information

  • Building typeA Grade - office
  • TitleFreehold
  • Site area (hectares)0.6
  • Lettable area ('000sqm)52.3
  • Lettable area adjusted for ownership ('000sqm)26.2
  • Typical floor area (sqm)1,400
  • Number of buildings3
  • Car parking spaces155
  • Year built2015
  • Major tenantShell
  • OwnerDXS
  • Ownership (%)50
  • Co-ownerDWPF
  • Metro areaPerth CBD
  • ZoningCity Centre
  • Acquisition dateMay 2013
  • Book value at ownership ($m)224.5
  • Independent valuation dateJune 2019
  • Independent valuation at ownership ($m)224.5
  • Market cap rate (%)6.29
  • Initial yield (%)6.51
  • Leased by area (%)99
  • Weighted lease term by income (years)6.6

  • NABERS Energy rating (with Green Power)KS1 NR / KS2 5.5 / KS3 NR
  • NABERS Energy rating (without Green Power)KS1 NR / KS2 5.5 / KS3 NR
  • NABERS Water ratingKS1 NR / KS2 2.5 / KS3 NR
  • Green Star ratingKS1 5.0 Star (Office As Built v3), KS2 5.0 Star (Office As Built v3), KS3 5.0 Star (Office Design v3)