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.

- Three A-Grade office buildings

- Conveniently located to the city’s entertainment and cultural precincts

- Extensive end-of-trip facilities

Property Information

  • Building typeA Grade - office
  • Year built2015
  • TitleFreehold
  • Metro areaPerth CBD
  • ZoningCity Centre
  • Site area (hectares)0.6
  • Lettable area ('000sqm)52.6
  • Lettable area adjusted for ownership ('000sqm)26.3
  • Number of buildings3
  • Typical floor area (sqm)1,400
  • Car parking spaces155
  • Owner DXS,DWPF
  • Ownership (%)50
  • Co-ownerDWPF
  • Major tenantShell Energy Australia
  • Acquisition dateMay 2013
  • Book value at ownership ($m)252.4
  • Independent valuation dateJune 2022
  • Independent valuation at ownership ($m)252.4
  • Market cap rate (%)5.73
  • Initial yield (%)7.00
  • Leased by area (%)95
  • Weighted lease term by income (years)4.4

  • NABERS Energy rating (with Green Power)KS1 6.0 / KS2 6.0 / KS3 6.0
  • NABERS Energy rating (without Green Power)KS1 5.0 / KS2 5.5 / KS3 5.5
  • NABERS Indoor EnvironmentKS1 3.5, KS2 5.0, KS3 4.5
  • NABERS WasteKS1 3.5 KS2 NR KS3 3.0
  • NABERS Water ratingKS1 4.0 / KS2 5.0 / KS3 4.0
  • 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)
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