Perth’s B-grade landlords are taking an A-grade approach to attracting and keeping tenants, with Zone Q revealing details of its plans to upgrade the entry and add a “striking new entrance” to its 182 St Georges Terrace building.
Zone Q paid $23 million for 182 St Georges Terrace (and $44 million for 55 St Georges Terrace) last year and has since commissioned Plus Architecture to open up what was previously a dark and closed off entry.
The plans include an artisan coffee shop that offers delivery services to building tenants; upgraded end-of-trip facilities with lockers, showers, towel service and bicycle parking; a common boardroom that can be booked by tenants; an upgraded lobby with specialist lighting, curated artwork and a lounge area to create space for ad hoc meetings or evening functions.
Zone Q asset manager Luke Finkelde said landlords needed to be forward thinking to stay relevant. Zone Q was doing this by offering a viable option for small to medium sized enterprises wanting to upgrade their office or relocate to the city.
It was only by standing out from the crowd that B-grade office owners would be able to continue to reduce B-grade vacancy, which fell for the first time in a year in the Property Council of Australia WA’s half-year numbers to January.
“By offering functional amenities, landlords can create value-add opportunities for small and medium-sized businesses and allow valuable floor space to be better used for collaborative work or staff breakout areas,” Mr Finkelde said.
Plus Architecture’s Patric Przeradzki said there were few boutique buildings with smaller floor plates on St Georges Terrace that offered the same amenity.
“The building has two very large light wells and large doors that open facing out to Kings Square which provide natural ventilation,” Mr Przeradzki said. “That is unique to the Terrace.”