Cbus Property & Brookfield Properties break ground on Perth’s newest office tower - Nine The Esplanade

WESTERN AUSTRALIA, AUSTRALIA: Brookfield Properties and Cbus Property today announced construction is underway on Perth’s newest office tower, Nine The Esplanade, with more than a third of the space leased and a design and construct contract awarded to award-winning tier-one builder, Multiplex.

Early site works on the $500 million 19-storey PCA Premium Grade office building of circa 32,500 square metres commenced in Q4 2022. Featuring more than 4,800 square metres of on-site co-working and conferencing facilities and highly efficient floorplates with a side core designed to capture the views across Elizabeth Quay and the Swan River, the tower will take centre stage at Elizabeth Quay.

Cbus Property's Chief Executive Officer, Adrian Pozzo, said the team was looking forward to re-entering the Perth office market with the development of Nine The Esplanade, following the success of 140 William Street 10 years ago.

“Nine The Esplanade will join Cbus Property’s $6.0 billion carbon-neutral office portfolio across Australia, reinforcing our aspiration to deliver the most sustainable office portfolio in the country,” he said.

“Reflecting the latest thinking in environmentally sustainable workplace design, this next-generation office tower will raise the bar in Perth, targeting a 6 Star Green Star rating, 5.5 star NABERS Energy rating and IWBI WELL Gold Core certification, among many other best-practice industry standards.

“Nine The Esplanade will be a truly premium commercial office offering that we are delighted to be collaborating on with Brookfield Properties to further enhance the flourishing fabric of Elizabeth Quay and the wider Perth community.”

New tenants announced

In a major boon for Elizabeth Quay, Multiplex, Hub Australia and EY have all agreed to new lease terms at Nine The Esplanade, joining Chevron Australia, Herbert Smith Freehills and other major industry names at the Quay.

Danny Poljak, President of Brookfield Properties in Australia, said: “We are excited to continue our 20-year relationship with EY in Perth and look forward to working with them on delivering a new workplace experience for their people. We’re also excited to expand our relationship with Hub Australia and Multiplex. The strength of leasing demand, coupled with the high quality of this development and the Elizabeth Quay precinct, underscores our conviction in this precinct and project.”

EY

EY, one of the world’s leading professional services firms, has committed to a 10-year lease of approximately 5,600 square metres of space across three floors in the Premium Grade tower, relocating from its current premises at 11 Mounts Bay Road, which will be refurbished and repositioned by Brookfield Properties for another generation of tenants.

Hub Australia

In a first-to-Perth offer, Australia’s largest privately owned flexible workspace operator, Hub Australia, has committed to approximately 4,500 square metres of space across two and a half floors in a seven-year partnership agreement.

Multiplex

Multiplex will once again return to the Swan riverfront, committing to 1,000 square metres of space on a seven-year lease term.

Multiplex’s Regional Managing Director for Western Australia, Chris Palandri, said: “Brookfield and Multiplex enjoy a strong working relationship locally and globally, and we’re proud to commence construction of this project which will be our new Perth Head Office upon completion. Nine The Esplanade provides us with the perfect opportunity to transition our team, which has recently completed works on One The Esplanade, to another fantastic development in Elizabeth Quay.”

Nine The Esplanade is the second commercial tower to be developed in the Elizabeth Quay precinct, following the recent completion of One The Esplanade, which completed fully leased. Construction on Nine The Esplanade is anticipated for completion in 2025. The building is to be managed by Brookfield Properties.

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FAST FACTS

Designed to complement the adjoining office buildings while taking advantage of its prime Elizabeth Quay location, Nine The Esplanade will offer a business lounge, co-working spaces and conference facilities.

Other building highlights include large efficient floorplates of circa 1,870 square metres, touchless technology, inter-floor connection opportunities, floor-to-ceiling glass, secure lift destination controls and undercover parking.

Nine The Esplanade’s design will also incorporate premium end-of-trip facilities, a dedicated tenant app and concierge services. Work floors provide for flexible open workspaces, collaboration spaces and centralised floor connection, along with expansive river and city views.

Nine The Esplanade is one half of an elegant and eye-catching twin tower scheme designed by two international global architectural firms, REX and Hassell, to recognise the site’s strategic importance. When complete, the two towers will be joined at the ground plane by a large undercover civic plaza lined with high quality retail, restaurant and café tenancies.