The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OfficeLindsay SaundersThu 05 Jun 25

A-Grade Perth Office Tower Comes to Market

A landmark A-grade office tower in the heart of Perth’s Elizabeth Quay precinct has hit the market.

The 20-storey asset, 28 The Esplanade, has 15,312sq m of net lettable area on a 2352sq m site with 186 carparking bays.

It is being offered for sale via an expressions-of-interest campaign closing on July 4 and being marketed by Cushman & Wakefield’s Nick Charlton, Ben Younger, Mark Hansen and Zaahen Kahn on behalf of Redhill Partners.

Next to the Elizabeth Quay transport interchange and neighbouring newly completed premium-grade towers, the building is 89 per cent leased to a diverse tenant mix including AON, CyberCX, Apollo Group, and Wabtec, according to the agents.

“With strong face rental growth forecast over the next 24 months, incoming investors will benefit from the ability to grow the current passing income,” the agents said.

“Further upside can be captured through value-add initiatives.”

Cushman & Wakefield joint head of Capital Markets, WA, Nick Charlton, said the building’s “generous floorplates, panoramic river views, and proximity to major infrastructure projects make it a compelling proposition for investors seeking long-term value in a tightening market”.

The listing comes as Perth’s office market continues to outperform national peers in occupancy and rental growth. A-grade rents have risen 11.8 per cent during the past two years, and Perth CBD’s return-to-office levels are the highest in the country.

null
▲ The listing of 28 The Esplanade comes as investors are repositioning in the surging Perth sector.

Originally built in 1983 and extensively refurbished between 2015 and 2025, the building includes modern end-of-trip facilities, upgraded lifts and a high-quality ground-floor plaza.

It also holds zoning that allows for future redevelopment, and the proposed Local Planning Scheme No. 3 is expected to unlock additional plot ratio potential.

Charlton said the listing of 28 The Esplanade added to a growing pipeline of institutional-grade assets coming to market in Perth this year.

He said investors were repositioning portfolios, seeking exposure to the state’s robust economic fundamentals, including a $76-billion infrastructure pipeline and record population growth.

OfficePerthDeal
AUTHOR
Lindsay Saunders
The Urban Developer - News Editor
More articles by this author
linkedin icon
ADVERTISEMENT
TOP STORIES
Exclusive

Paperwork to Plate: The Rise of Brisbane’s Midtown

Taryn Paris
6 Min
Wel Co's Thornhill Park, 40km west of the Melbourne CBD.
Exclusive

Waiting for Victoria: Why Wel.Co says State Planning isn’t Working

Marisa Wikramanayake
6 Min
Woods Bagot Principal Alex Hall and Penny Place Adelaide
Exclusive

Amplified Affordability: Woods Bagot Cracks Housing Cost Code

Leon Della Bosca
8 Min
Goodman Brisbane Industrial EDM
Exclusive

Olympics a ‘Springboard’ for Brisbane’s Industrial Age

Clare Burnett
6 Min
Colliers build-to-rent head Robert Papaleo speaking at The Urban Developer's Build-to-Rent Summit in Melbourne.
Exclusive

Get Creative Before BtR Wellspring Runs Dry, Sector Urged

Marisa Wikramanayake
4 Min
View All >
Finance

Global Uncertainty Underwrites Australia as ‘Island of Stability’ for Investors

Taryn Paris
Exclusive

Paperwork to Plate: The Rise of Brisbane’s Midtown

Taryn Paris
Cedar Woods Noble Park social housing HERO
Affordable & Social Housing

Cedar Woods Wins Nod for Noble Park Social Housing

Leon Della Bosca
The Perth-based developer will partner with HousingFirst for the 97-unit Noble Park train station precinct project…
LATEST
Finance

Global Uncertainty Underwrites Australia as ‘Island of Stability’ for Investors

Taryn Paris
6 Min
Exclusive

Paperwork to Plate: The Rise of Brisbane’s Midtown

Taryn Paris
6 Min
Cedar Woods Noble Park social housing HERO
Affordable & Social Housing

Cedar Woods Wins Nod for Noble Park Social Housing

Leon Della Bosca
2 Min
Mandarin Centre EDM
Retail

Decade On, Mandarin Centre Redevelopment Revealed

Clare Burnett
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/perth-28-the-esplanade-wa-listed-office