BHP'S South32 takes 108 St Georges Terrace, Perth office lease
Jonathan ChancellorDecember 7, 2020
Brookfield Prime Property Fund has a conditional agreement to lease part of the vacant space in its 50% owned property at 108 St Georges Terrace, Perth.
The agreement for lease for 8,300 square metres is with a BHP Billiton entity that would be part of South32, the new company which BHP Billiton plans to create via a demerger.
A final decision on the proposed demerger is subject to BHP Billiton Board and shareholder approval expected to take place in May 2015.
The lease will be for a period of 10 and a half years commencing May 2015.
Occupancy at the property will increase to 75%.
Brookfield's 50% interest in the property is valued at around $166 million.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.