A flagship asset in Perth’s suburban office market is for sale with the owners of the Optima Centre taking the A-grade building in Herdsmen Business Park to market.
Completed in 2010, the fully leased, two-building office campus has 16,116sqm of office space and occupies a 9,459sqm site in a premium office precinct just 5km from Perth’s CBD.
The Optima Centre has views over Herdsman Lake and Perth city and will be sold by appointed agents Colliers International and JLL.
Colliers International’s Ian Mickle said the property’s income was secured by a long lease to the WA State Government.
“Under a recently renewed lease, the government will occupy about 83 per cent of the building’s net lettable area until mid-2032, while Canon Australia and building company ABN Group occupy approximately 15 per cent of the office space,” Mr Mickle said.
The Optima Centre has an annual net income of approximately $9.03 million.
“With blue-chip tenants and fixed rental increases, the Optima Centre has a weighted average lease expiry of 11.8 years and will be of interest to national and offshore buyers wanting to take advantage of a contemporary building in Perth’s rebounding office market,” JLL’s John Williams said.
Signs of WA’s economic recovery have been underway since 2016 when commodity prices began climbing and during the past six months, Perth’s office market has also improved.
According to the Department of Treasury, WA’s State GDP is forecast to grow 3.25 per cent and on the back of rebounding commodity prices, white collar employment is also forecast to strengthen.
Building A at the Optima Centre has 2,611sqm of office space over three levels and is home to Canon Australia and the ABN Group. Building B is leased to three state government departments and has 13,339sqm of office space over six levels and a ground-floor café.
The two buildings share a secure car parking area for 500 vehicles that has direct access to a number of tenancy areas.
The Optima Centre also delivers a high levels of sustainability and has a 4.5 and 5.5 star NABERS rating across both buildings.
Herdsman Business Park is already a significant employment centre but its land uses will broaden under a City of Stirling structure plan that envisions the future transformation of Herdsman and Glendalough into one of Perth’s key, high-density, mixed-use employment centres with high frequency public transport and public spaces for residents and employees.
The Optima Centre at 16 Parkland Road, Herdsman Business Park, will be sold by expressions of interest which close on April 12, 2018.