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Property fund manager Primewest (ASX: PWG) is going ahead with the second stage of its $100 million master plan for the City of Joondalup north of Perth.
After completing a 10,000 square metre Stage 1 office building early last year, Primewest has now unveiled plans for a 12,000 square metre office building and associated parking for 150 vehicles.
Located directly opposite the Joondalup Health Campus that is due to commence a $254 million expansion this year, the Primewest office hub sits on a 1.2ha site with the first building "Prime House" hosting the the Department of Water and Department of Environmental Regulation as its anchor tenant.
Prime House was the first office building in WA to achieve 6 Star NABERS Energy accreditation and like the building proposed for Stage 2, has a 5 Star, Greenstar environmental rating.
Primewest managing director David Schwartz says the company has been a long-term investor in the City of Joondalup, with a vision to help create a vibrant and active precinct featuring various asset classes and a new public open space aimed at enhancing the city centre.
"It has long been Primewest's vision to create a central business hub for Joondalup and with our landmark site opposite the Joondalup Health Campus we are well on our way to achieving that," says Schwartz.
"Ideally we want to provide the accommodation of choice for prospective tenants wishing to locate within the growing Joondalup city centre."
Joondalup Mayor Albert Jacob says the City is excited by the Primewest proposal and looks forward to the lodgement of a development application.
"As the commercial, civic and cultural City Centre of Perth's northern growth corridor, one of Australia's fastest growing regions, the City of Joondalup embraces quality development," Mayor Jacob says.
"The neighbouring Primewest development which houses the Department of Water and Environment Regulation has helped to create opportunities for people living in the northern suburbs to work closer to home as well as enhancing the vitality and vibrancy of the Joondalup City Centre.
"We look forward to this proposed development achieving similar outcomes by vastly increasing the number of people who visit Joondalup for work, retail and commercial purposes."
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Business News Australia
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