JOINT venture partners Charter Hall and Cape Bouvard have signed iconic West Australian engineering and construction company Clough Limited to a new $220 million office tower in the Perth CBD.
Clough has signed a 12 year lease agreement in Alluvion, totalling 12,560 sqm of office space and will occupy top half of the 14 level building from levels seven to 14, housing around 700 personnel.
Clough’s chief executive John Smith re-establishing Clough in Alluvion will enable the company to better integrate its functional groups by providing planned accommodation to better cater for all personnel, including project teams.
Charter Hall’s joint managing director David Southon said this significant leasing commitment represents another significant milestone contributing to the overall success of Charter Hall’s fourth opportunity fund, CHOF4.
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Alluvion has been designed to achieve a 4.5 Star Australian Building Greenhouse Rating and will be one of the first commercial office towers in the Perth CBD to achieve this level of environmental efficiency.
“Combined with our own commitment to the upper levels of the building and with the remaining space currently under negotiation we are confident that this building shall soon be fully let,”
Alluvion is expected be completed in April 2010 and it is anticipated Clough will move in shortly thereafter.
The $220 million office tower development will be jointly owned by Charter Hall’s Opportunity Fund No. 4 and
Australian Property Journal
