Property: QV1

QV1

250 St Georges Terrace, Perth

The QV1 building is a 42 level office tower comprising 38 storeys of office space fronting St Georges Terrace, two levels of plant room and two levels of basement, there is also two levels of retail space fronting Hay and Milligan Streets.

The site was originally purchased in 1989 for $30 million by QV1 Pty Ltd, a joint venture between Barrack Properties (50%), Interstruct (30%) and Kajima Corporation (20%).

Construction of the building was funded by a $340 million put option over the building by the then NSW State Authorities Superannuation Board and BTA Property Trust. In 1991 the put option was exercised and the NSW State Authorities Superannuation Board and BTA Property Trust acquired joint ownership of the building. 

In 1998 BTA Property Trust sold its 50% share to BT Office Trust for $130.57 million. BT Office Fund changed its name to Principal Office Trust in 2002 and in 2003 it was acquired by Investa Property Group. - Matthew Hooper

Site Area:            16,386sqm (Includes QV1 car park in Hay Street)

Total Net Lettable Area:             Office Tower – 59,566sqm - Typical floors range in                                    area from around 1608 to 1722sqm (column-free)

            Retail Plaza – 2,372sqm

            Showrooms – 949sqm

            Total – 62,887sqm                  

Zoning:             Office/General Commercial

Owner: Investa Property Group 50%

            SAS Trustee Corporation – trustee for the NSW State                              Authorities Superannuation Board 50% (Fund Managed                                  by DB Real Estate)

Managing Agent:  CB Richard Ellis

Leasing Agent:            CB Richard Ellis

Developers:            Interstruct & Kajima Corporation

Designer:             Harry Seidler & Associates

Awards:            Include: RAIA(WA) Architecture Design Award - Commercial                           Buildings over $200 million - 1992

            RAIA(WA) Commendation - Civic Design Award for                                Commercial Buildings - 1992

            RAIA Commercial Architecture Award - Best Design                          for a Commercial Building over $200 million - 1992

            Master Builders Association of Australia - Best                                                 Workmanship for Buildings over $200 million and Award for                         Plaza Lighting & Award for Lobby Lighting.

Valuation:            $305 million - Based on valuation for Investa’s 50%                         interest on June 30 2003   

Tenants QV1 Plaza:            Alphawest, Bar One, Cino to Go, Croissant Express,                                   Expo Document Copy Centre, ImageSource, Kebab                          Co, Matsuri Japanese Restaurant, Mr Birds MYO,                             NYC Pizza (Opening May 2004), QV1 Management                             Office, QV1 News, Royal Australian Institute of                                            Architects and St Georges Terrace Flowers

Tenants QV1 Showrooms:             CarbonTune, Head Office for Hair, QV1 Dental –

            Alan Lim

Tenants QV1 Tower:            Alphawest – 2 levels

            AON Risk Services – Part of 2 levels*

            APRA – Part of 1 level

            Ardross Estates – Part of 1 level

            ATA Engineering – Part of 1 level#

            Australian LNG Ship Operating Company – Part of 1 level

            BP Developments Australia – Part of 1 level

            Burns & Roe Worley – 1 level

            Central Data – Part of 1 level#

            ChevronTexaco Australia – 3 levels

            Clayton Utz – Part of 3 levels#

            Concorde International Travel – Part of 1 level*

            Dept. of Employment & Workplace Relations – 1 level*

            EFtel – Part of 1 level*

            Freehills – 2 levels#

            Gemini Mining (Thundelarra Exploration) – Part of 1 level

            Gerard Daniels Australia – Part of 1 level*

            Global Tek – Part of 1 level#

            Healy McKay & Wright – Part of 1 level

            Hutchison 3G Technologies#

            Hyogo Prefectural Government Cultural Centre – Part

            of 1 level*

            Kawasho International – Part of 1 level

            Kellogg Joint Venture – 2 levels

            Link Project Service – Part of 1 level#

            Mermaid Sound Port & Marine Services – Part of 1 level

            Microsoft – Part of 1 level

            Nissho Iwai Mineral Sands – Part of 1 level,

            Northwest Shelf Australia LNG – Part of 1 level

            Northwest Shelf Shipping Company – Part of 1 level

            Office of the Employment Advocate – Part of 1 level*

            Osaka Gas Australia – Part of 1 level

            PricewaterhouseCoopers – 3 levels#

            QV1 Conference Centre – 1 Level

            RFC Group Limited – Part of 1 level

            Saville Property Group – Part of 1 level*

            Shell Development Australia – 1 level

            Shell (sub leased to Gorgon / Chevron) – Part of 1 level

            Swiftel Limited – Part of 1 level

            Thai Airways International – Part of 1 level*

            Wilson & Atkinson Barristers & Solicitors – Part of 1 level

            Woodside Energy Limited – 1 level

            Worley Engineering – 5 levels*

            * - Leases renewed post January 2002

            # - New tenants post January 2002