100 St Georges Terrace

100 St Georges Terrace
General information
Type Mixed (Office/Retail)
Location 140 St Georges Terrace,
Perth, Western Australia
Coordinates
Construction started 2006
Completed 2009
Opening June 2009
Cost A$250 million
Height
Roof 103 m (337.93 ft)
Technical details
Floor count 23
Floor area Retail: 8,500 m2 (91,000 sq ft)
Office: 28,000 m2 (300,000 sq ft)
Design and construction
Main contractor Multiplex
Architect Hames Sharley
Developer Pivot Group (Axiom Property) and ISPT
References
[1]

100 St Georges Terrace is a 24-storey skyscraper in Perth, Western Australia. It is a mixed retail and commercial property located at 100 St Georges Terrace. The retail component, named enex100, is made up of three floors of shops and food outlets between St Georges Terrace and the Hay Street Mall. The office tower is 103 metres (338 ft) high[1] and the project was the first office building constructed in Perth to a 4.5-star Australian Building Greenhouse Rating.

Contents

Site history

The St Georges Terrace side of the site was formerly occupied by several buildings. The site adjacent to Trinity Church was opened as a branch of the Union Bank in 1885.[2] The seven-storey New Zealand Insurance Company building was constructed at 100 St Georges Terrace in 1927,[2] followed by the neighbouring six-storey Airways House in 1933.[2] The Union Bank became ANZ Bank, and in May 1963 it vacated its building to allow for the construction of a modern replacement building on the same site.[2] The replacement ANZ Bank was 14-storeys tall and was opened in November 1965 by Premier David Brand. The site also became home to the National Mutual Arcade.[3]

The Hay Street side of the site was home to department store Sandovers.[2] The original building on the site designed by architect J. Talbot Hobbs was destroyed by fire in 1907 and replaced with a new building.[2] This remained the home of Sandovers until the company closed down late in the 20th century, and the facade remains standing to this day.[2]

The ANZ Bank Building was demolished in the late 1980s,[3] and the National Mutual Arcade was demolished in early 1991.[4] This was to make way for a A$100 million development retail arcade and 39-storey office tower, however due to a market downturn the plans never eventuated.[4] Instead, the St Georges Terrace half of the site was landscaped into a park and the northern half saw construction of a Toys "R" Us store.[4]

Redevelopment

In 2001, Futuris Corporation subsidiary Caversham Properties obtained a $30 million option over the site to develop an office tower.[5] In 2002 Futuris unveiled its plans to build a $120 million, 27-storey tower on the site named Century City, and received planning approval for the development.[6] The development would include a large shopping centre and cinema beneath the office tower.[6] The development did not attract sufficient interest from major tenants,[7] and Futuris' option was terminated.[8]

After the termination of Futuris' option, an option to develop the site was taken up by Pivot Group, the private group of Incitec chairman Peter Laurance, in September 2003.[8] At this time, the site was owned by AXA Statutory Fund, and managed by Deutsche Asset Management.[5] On 17 December 2004, the Pivot Group exercised its option to buy the site from Axa Pacific for A$30 million.[3] On the same day, it announced fresh redevelopment plans for the site.[9] The development was undertaken as a joint venture between Incitec and the Industry Superannuation Property Trust (ISPT),[9] the latter of which also owned the nearby Forrest Chase shopping centre.[3] Upon completion, ISPT would take full ownership of the property.[10] In order to facilitate the redevelopment, the properties fronting the Hay Street Mall were purchased by the Pivot Group.[11]

Development approval was received from the City of Perth in April 2004.[3] The project was to be the largest retail development in the Perth central business district since Forrest Chase was completed in 1989.[9] Construction was initially expected to begin in early 2005,[3] and the building was expected to have a value upon completion of A$140 million.[9]

The plans included underground car park[3] as well as a 22-bay loading dock, which was to be used by tenants of the shopping centre as well as other retailers on the Hay Street Mall.[3] However, despite wanting such a loading dock for the mall since 1989, the City of Perth refused to invest public money in the project.[11]

Before construction started, supermarket chain Woolworths took up a 20-year lease over 2,500 square metres (27,000 sq ft) of space in the retail component of the project, out of a total of 15,000 square metres (160,000 sq ft) of total retail space.[3]

The development was structured so that if there was insufficient demand for office space, the office tower would be scrapped in favour of a pure retail development.[10] Due to an economic boom in Western Australia, during planning and construction the retail and office rental markets in the Perth CBD dried up, with vacancy rates falling to record lows.[12] Despite this and rents among the lowest in the Perth office market,[10] the developers had trouble securing an anchor tenant for the office tower portion of the development. The developers confirmed in October 2005 that the construction of the office tower would go ahead without an anchor tenant.[13]

Existing leases over the remaining buildings fronting the Hay Street Mall expired at the end of January 2006,[12] and demolition started in February 2006.[14] The heritage-listed facades of these buildings were retained and incorporated into the new development.[15] Demolition was complete by April 2006, with construction by building company Multiplex expected to get underway by July 2006.[16][17] By this stage, the cost of the development had been revised to $250 million.

Axiom Properties joined the development on 27 June 2006, investing A$5 million in exchange for half of the profits of the office tower portion of the development.[18]

The first major office tenancy was achieved in March 2007 when Japanese oil and gas giant Inpex signed a 10-year lease over 7,000 square metres (75,000 sq ft) of space across the building's top four floors.[19] This was followed by the National Australia Bank which took up 8,900 square metres (96,000 sq ft) of space in the tower and became its anchor tenant, to enable it to shift from its current location in St Martins Centre.[20] The bank also leased 2,000 square metres (22,000 sq ft) of retail space over two levels to open a new retail headquarters fronting St Georges Terrace, and secured signage rights to the building.[20] Apache Energy also committed to 8,000 square metres (86,000 sq ft) in the building.[21] Closer to the building's completion, engineering company Kellogg Brown & Root and subsidiary Geanherne took up 5,295 square metres (56,990 sq ft) of space in the building, bringing it to 97 percent leased.[16]

During construction, ISPT bought out Axiom Properties' share of the project and renamed it from "Century City" to "100 St Georges Terrace", with the retail component called "enex100".[22] The rationale for this change was to reflect a more modern image, with the former name considered "too conservative".[22] The name "enex100" is apparently derived from the slogan "enjoy and expect the unexpected".[22]

The initial stage of the retail project, made up of shops fronting the Hay Street Mall, opened in mid-December 2008.[22] The second stage of the retail centre was made up of the Woolworths supermarket, JB Hi-Fi and an upmarket food court on the podium level.[22] Woolworths was opened on 8 June 2009,[23] and was the chain's 800th store in Australia.[24] The remainder of the complex was officially opened by Perth MLA John Hyde.[24]

Design

The development was designed by architects Hames Sharley, who were also responsible for the design of the Swan Bells belltower.[25] The complex is made up of an office tower fronting St Georges Terrace with 19 storeys of offices, rising above three levels of retail between the Hay Street Mall and the Terrace.[16] The design of the shopping centre was modelled around suburban shopping centres such as Chadstone Shopping Centre in Melbourne and Chatswood Chase in Sydney, rather than based upon traditional CBD arcade layouts.[10]

Before commencing construction, the developers committed to achieving a 4.5-star Australian Building Greenhouse Rating for the project.[26] This added 10 percent to the cost of the building, and the developers indicated that achieving a 5-star rating would be prohibitively expensive.[27]

Floor plates in the office building are 1,765 square metres (19,000 sq ft) in area,[16] and are described by the management as virtually "column-free" and with "high windows".[28] There is a total of 31,300 square metres (337,000 sq ft) of net lettable office space in the development.[16]

Tenants

Major tenants in the office tower include:[29]

Notable tenants of enex100 include:[30]

See also

References

  1. ^ a b "100 St. Georges Terrace, Perth". Emporis. http://www.emporis.com/application/?nav=building&lng=3&id=centurycity-perth-australia. Retrieved 30 August 2009. 
  2. ^ a b c d e f g "Heritage". 100 St Georges Terrace. http://www.100stgeorgesterrace.com.au/content.asp?cid=10&pid=10. Retrieved 30 August 2009. 
  3. ^ a b c d e f g h i Drummond, Mark (18 December 2004). "$140m retail centre for CBD". The West Australian: p. 3. 
  4. ^ a b c Callaghan, Ruth (27 August 1997). "Developers Wait In Wings". The West Australian: p. 56. 
  5. ^ a b Cook, Tracey (5 February 2004). "Pivot's West Perth plans". WA Business News. 
  6. ^ a b Low, Catie (12 February 2003). "Futuris wins $120m retail, tower nod.". The West Australian. 
  7. ^ Low, Catie (17 September 2003). "Retail integral to Westralia plans". The West Australian. 
  8. ^ a b Low, Catie (1 October 2003). "Worley trims city options back to three". The West Australian. 
  9. ^ a b c d Speedy, Blair (18 December 2004). "Merger no threat: Incitec". The Australian: p. 37. 
  10. ^ a b c d Petchell, Lee-Anne (16 July 2005). "CBD retail centre set for January". The West Australian: p. 71. 
  11. ^ a b Mendez, Torrance (23 April 2005). "Rail plans sink city loading bays". The West Australian: p. 49. 
  12. ^ a b Chandler, Ainslie (25 January 2006). "More CBD space due by 2008". The West Australian: p. 56. 
  13. ^ Petchell, Lee-Anne (5 October 2005). "Construction date set for Century City office tower". The West Australian: p. 61. 
  14. ^ Chandler, Ainslie (8 March 2006). "$320m City Square still faces hurdles". The West Australian: p. 49. 
  15. ^ Chandler, Ainslie (22 February 2006). "Land being cleared for Century City project". The West Australian: p. 63. 
  16. ^ a b c d e Saunders, Cathy (1 October 2008). "Top design makes Century City an attractive option". The West Australian: p. 57. 
  17. ^ Chandler, Ainslie (5 April 2006). "Century City about to start". The West Australian: p. 60. 
  18. ^ Chandler, Ainslie (28 June 2006). "Axiom takes $5m stake in Century City tower". The West Australian: p. 59. 
  19. ^ Carter, Jenelle (8 March 2007). "Century City secures oil and gas tenant". WA Business News. 
  20. ^ a b Edited announcement (12 February 2008). "NAB confirms move to Century City office tower". WA Business News. 
  21. ^ Saunders, Cathy (11 June 2008). "New towers a lure to keep talent". The West Australian: p. 72. 
  22. ^ a b c d e Saunders, Cathy (14 January 2009). "Upmarket eateries to be focus of enex100". The West Australian: p. 49. 
  23. ^ Staff writer (4 June 2009). "Woolies put city on the grocery list". The West Australian: p. 2. 
  24. ^ a b Staff writer (22 June 2009). "Woolworths' 800th store". Retail World: p. 8. 
  25. ^ Davis, Kelly (24 November 2007). "Units set benchmark". The West Australian: p. 4. 
  26. ^ Edited announcement (4 May 2006). "New Century City building goes green". WA Business News. 
  27. ^ Chandler, Ainslie (10 May 2006). "Green rules prevail in big Pivot project". The West Australian: p. 56. 
  28. ^ "Building Profile". 100 St Georges Terrace. http://www.100stgeorgesterrace.com.au/content.asp?cid=10&pid=8. Retrieved 30 August 2009. 
  29. ^ "Tenant List". 100 St Georges Terrace. http://www.100stgeorgesterrace.com.au/content.asp?cid=11. Retrieved 30 August 2009. 
  30. ^ "Find a store". enex100. http://www.enex100.com.au/content.asp?cid=6&pid=11. Retrieved 30 August 2009. 

External links