Property giant Brookfield has vowed to undertake major upgrades at Brookfield Place after anchor tenant BHP agreed to remain at the skyscraper for a further 15 years.
Property giant Brookfield has vowed to undertake major upgrades at Brookfield Place after anchor tenant BHP agreed to remain at the skyscraper for a further 15 years.
The miner has already spent a decade at the Tower 1 development at 125 St Georges Terrace, leasing 41,000 square metres of floor space within the 45-storey building.
Brookfield Properties executive vice-president Danny Poljak said the company was thrilled to be able to continue its long-term partnership with BHP and would now re-imagine the WA headquarters to cater to BHP’s future workplace needs.
Mr Poljak said the extension of the lease deal represented a further endorsement of Brookfield Place as a premium space.
The company has flagged plans to reinvestment in both the tower and precinct, with upgrades planned for the lobby, end-of-trip facilities and services.
Brookfield also intends to create 8,000sqm of flexible working space to service BHP’s on-demand needs and those of other tenants, working alongside Soft Earth’s Barry McGuire and Carol Innes to ensure the voices of First Nations people are reflected in the precinct.
BHP WA Iron Ore Asset president Brandon Craig said the business would work with Brookfield to ensure the space reflected its hybrid working style, with wellness facilities and surroundings that aligned with its social value principles.
Tower 1 is owned and managed by Brookfield and its subsidiaries and was completed in 2012 at a cost of more than half a billion dollars.
It was named Australia’s best office development at the Asia Pacific division of the International Property Awards in 2014.
