The mining group’s staff were informed this week that they are set to move to the ISPT asset by 2025.
South32’s Perth staff are set to relocate to 100 St Georges Terrace by the end of 2025, with plans to convert the entire third floor of that building from retail to office believed to be in the pipeline.
Staff were informed today of the move, which would take the mining group’s Perth footprint from at least four floors in 108 St Georges Terrace to the entire third floor of the Enex building.
South32 are currently the anchor tenant in 108 St Georges Terrace, but their lease expires in 2025.
A heads-of-agreement has been signed between 100 St Georges Terrace owner ISPT and South32 for the company to occupy ar least one of the 5,000 square metre floors in Enex.
The mining group is expected to occupy at least the third level of the Enex building, which currently houses a food court, JB-Hifi, Priceline, among other retailers.
All of South32’s Perth staff will be affected by the move, which is expected to occur by late 2025.
108 St Georges Terrace, developed by Perth businessman Alan Bond in the 1980s, sold to property fund Realside and global real estate company Lendlease Group for $340 million in December last year.
The building’s former owner Brookfield spent $110 million on upgrading the building after it purchased the asset for $170 million in 2015.
Japanese oil company Inpex currently have naming rights to the Enex building, and South32's sign adorns the top of 108 St Geogres Terrace.
It is unclear whether the miner's signage will move from 108 to 100.
South32 confirmed the move to Business News this afternoon.
“South32’s lease at 108 St Georges Terrace concludes in November 2025, " a spokesperson said.
"After reviewing our workplace strategy, we have made the decision to move to 100 St Georges Terrace, with the move taking place in mid to late 2025."
ISPT and the owners of 108 St Georges Terrace were contacted for comment.
