The eight-level building at 507 Murray Street in the western end of the Perth CBD is being offered for sale through Cushman & Wakefield’s Ben Younger, Nick Charlton and Zaahen Kahn via Expressions of Interest closing September 30.
Built in 2012, the building provides 2,712 sqm of net lettable area across efficient 426 sqm floorplates, 12 secure car bays, a 517 sqm freehold site and is currently 84.3 per cent occupied
The building’s leasing profile also creates an owner-occupier opportunity, with one 426 sqm floor immediately available and a further 852 sqm due to become available by February 2027, potentially providing up to 1,278 sqm of contiguous accommodation across three levels.
Cushman & Wakefield’s Director and Co-Head of Capital Markets & Investment Sales WA, Ben Younger said the flexibility was expected to draw interest from both traditional investors and businesses considering owning their Perth headquarters.
“We expect a diverse buyer pool, including private investors, syndicators, family offices and owner-occupiers looking to take advantage of the ability to progressively occupy a meaningful portion of the building.
“For owner-occupiers in particular, opportunities to acquire an entire modern CBD freehold while retaining income from existing tenants are difficult to find. It provides a business with the ability to control its accommodation, establish a prominent headquarters and potentially grow into additional space over time.
“On the investment side, Perth’s improving office fundamentals and limited development pipeline are putting greater focus on existing assets that can capture rental growth as availability tightens.”
The building is occupied by tenants including Black Cat Syndicate, SYSTRA Rail Systems Australia and BAI Communications, spanning the mining, engineering, infrastructure and communications sectors.
Cushman & Wakefield’s Associate Director of Capital Markets & Investment Sales WA, Zaahen Kahn said the property’s modern construction, efficient floorplates and accessibility differentiated it from much of Perth’s older secondary office stock.
“507 Murray Street offers the fundamentals buyers and occupiers are increasingly prioritising: efficient floorplates, modern fitouts and immediate connectivity to the freeway and broader CBD.
“The building has also benefited from consistent capital expenditure over the past five years, which means an incoming purchaser isn't facing the same immediate upgrade requirements associated with many older CBD assets.
“There is also a significant branding opportunity, with prominent rooftop and west-facing signage positions visible from the Mitchell Freeway and West Perth, which should be particularly attractive to an owner-occupier looking to establish a high-profile corporate presence.”
The building sits close to the Mitchell Freeway’s north and southbound connections and is about 800 metres from Perth Train Station and 600 metres from Perth Busport. It is also opposite the 1,064-bay CPP Elder Street car park and adjacent to QV1’s 524-bay public car park.
The campaign comes against a tightening supply backdrop in Perth, with Mr Younger noting there is currently no new CBD office stock under construction expected to be delivered before 2030.
507 Murray Street, Perth is being offered for sale via Expressions of Interest closing Wednesday, September 30 at 2pm AWST.
