JUL
30
Shell Australia's expansion in Kings Square

Bradley Norris 30 JUL 2014

National Head of Commercial, Andrew Borger, said anchor tenant Shell had exercised its option to increase its footprint across the entire 11 floors of the KS2 building. A move where the total commitment represents the largest leasing deal in Perth's CBD for the past 12 months.

"It is clear that there is increasing confidence again within the resources sector, evidenced by Shell Australia’s decision." Mr Borger said.

"We now have 100% of the commercial space leased at KS2 - and with this we will see an increased occupancy at Kings Square and enormous flow on benefits for the precinct, particularly for its retail,"
Mr Borger said.

Michael Schoch, Shell Australia’s General Manager – Production said moving to Kings Square to occupy the entire KS2 building gives Shell the flexibility to grow, as well as providing first class facilities for staff.

"With our staff numbers doubling to 1,000, this investment in our new corporate headquarters reflects our commitment to Western Australia and Australia," Mr Schoch said.

KS2 is the second office tower in the master-planned Kings Square precinct, currently under construction within the $5.2 billion Perth City Link development – one of Australia’s most significant commercial and retail projects.

DEXUS Property Group (DEXUS) and DEXUS Wholesale Property Fund are the joint (50/50) owners of the fund-through Kings Square development incorporating towers KS1, KS2 and KS3. The towers have a combined total of 52,033 square metres of office and retail space.

Kevin George, DEXUS Executive General Manager, Office and Industrial said: "We are pleased with Shell Australia’s commitment to 100% occupation of KS2 office tower, bringing the total leasing commitment at KS1, KS2 and KS3 to 55%.

Kings Square will be a contemporary green-star precinct, located adjacent to Perth’s new primary transport hub; the underground train and bus stations and at the junction of four of Perth’s most popular commuter cycle paths, and will raise the bar for quality, amenity and transport connectivity.

The first four towers are currently under construction and due for completion in
mid-2015.

 

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Bradley Norris

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