Colliers Senior Leasing Executive Office Leasing, Grace Bailey directly brokered a deal in West Perth, facilitating the office accommodation upgrade for KCA Site Services at 5 Ord Street West Perth.
KCA Site Services, an esteemed name with decades of experience in the Australian mining and construction sectors, has taken a significant step forward by enhancing its office accommodation. With their headquarters now settled at 5 Ord Street, West Perth, the move signifies not only a physical relocation but also a strategic upgrade for the benefit of their business and employees.
Spanning an impressive 577sqm, the new premises mark a new chapter for KCA Site Services as they embark on a 5-year lease. This transition was privately brokered, reflecting the company's focused approach to securing its ideal workspace.
Grace Bailey, Colliers' Senior Executive of Office Leasing, commented, “In light of these encouraging market dynamics, KCA Site Services' decision to not only relocate but also elevate their workspace aligns with the positive trend in the West Perth office market. This strategic move positions the company to harness the thriving business environment in the area, particularly among other resource companies.”
The decision to move to West Perth is bolstered by the evolving market dynamics and trends. Recent findings from the Property Council of Australia’s Office Market Report (PCA OMR 3 August 2023) have reinforced the growing momentum in the West Perth office market.
Colliers Research Manager, Yashwini Halai said “According to the PCA OMR report released earlier this month, West Perth's vacancy rate has seen a notable decrease of 2.1 per cent, dropping to 11.1 per cent within the six months to July 2023. This marks the fifth consecutive vacancy decrease for the area.”
Impressively, the region has also witnessed positive net absorption of 6,368 sqm over the 6 months, coupled with a net supply below the historical average at -2,757 sqm, as reported by the Property Council of Australia (PCA).
