LEIGHTON PROPERTIES AND DEXUS PROPERTY GROUP SECURE SHELL AUSTRALIA’S EXPANSION IN KINGS SQUARE, PERTH
Andrew Borger 21 May 2014
Leighton Properties and DEXUS Property Group have announced that energy giant Shell Australia has signed up to a further 5,487 square metres in KS2, Kings Square, Perth – taking its total commitment to 19,300 square metres.
KS2 is the second office tower in the master-planned Kings Square precinct, currently under construction within the $5.2 billion Perth City Link development – one of Australia’s most significant commercial and retail projects.
Leighton Properties National Head of Commercial, Andrew Borger, said anchor tenant Shell had exercised its option to increase its footprint across to the entire 11 floors of the KS2 building.
“It is clear that there is increasing confidence again within the resources sector, evidenced by Shell Australia’s decision.
“We now have 100 per cent of the commercial space leased at KS2 - and with this we will see an increased occupancy at Kings Square and enormous flow on benefits for the precinct, particularly for its retail,” Mr Borger said.
Shell has a strong investment pipeline in Australia, including its exciting Prelude FLNG project to be based off the WA coast and significant investment in projects including Gorgon, NW Shelf and Browse.
Michael Schoch, Shell Australia’s General Manager – Production said moving to Kings Square to occupy the entire KS2 building gives Shell the flexibility to grow, as well as providing first class facilities for staff.
“With our staff numbers doubling to 1000 in support of Prelude FLNG, this investment in our new corporate headquarters reflects our commitment to Western Australia and Australia,” Mr Schoch said.
DEXUS Property Group (DEXUS) and DEXUS Wholesale Property Fund are the joint (50/50) owners of the fund-through Kings Square development incorporating towers KS1, KS2 and KS3. The towers have a combined total of 52,033 square metres of office and retail space.
Kevin George, DEXUS Executive General Manager, Office and Industrial said: “We are pleased with Shell Australia’s commitment to 100% occupation of KS2 office tower, bringing the total leasing commitment at KS1, KS2 and KS3 to 55%.
“This is further evidence that quality, affordable stock is in demand in the Perth CBD and we expect to see continued interest from other potential high calibre tenants in the Kings Square precinct.” Mr George said.
Kings Square will be a contemporary green-star precinct, located adjacent to Perth’s new primary transport hub; the underground train and bus stations and at the junction of four of Perth’s most popular commuter cycle paths, and will raise the bar for quality, amenity and transport connectivity.
The precinct will also include a range of lifestyle advantages such as a new childcare centre, 24-hour gym, retail, restaurants and open spaces.
The first four towers are currently under construction and due for completion in mid-2015.
For more information
National Head of Commercial
Phone+61 7 3370 4700
Email Andrew Borger