University buys $72.3m office
Edith Cowan University is set to expand its footprint in central Perth, agreeing to buy a five year old office close to its new city campus.
The school is paying Dexus $72.3 million for the nine-storey property on 1657 square metres at 10 Telethon Avenue, within the Kings Square precinct on the CBD’s west edge.
Known as KS3, it contains 9200 sqm, with c1150 sqm floorplates.
A 24-hour gym operates on the third floor.
Also with end-of-trip facilities, the asset is targeting a 5 Star NABERS Energy rating.
The deal comes a week since we reported Seven Entertainment sold the neighbouring site, 18-28 Telethon Ave, for $25m to Sirona Urban which is planning a major student accommodation complex.
ECU snaps up neighbour
John Holland occupies 10 Telethon Ave (continues below).
HBF and Shell are tenants in other Kings Square offices.
There is also a pub, Market Grounds, and childcare centre.
The pocket abuts ECU’s $853m city campus which opened to students in February.
The space is expected to provide additional capacity to support its inner-city operations, complementing its flagship campus.
Administrative or third-party uses might also be undertaken there, sources say.
The office was previously for sale in 2021 via CBRE.
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