Investment banking firm Argonaut will join the St Georges Terrace exodus to Elizabeth Quay, signing a lease to occupy the upcoming Elizabeth Quay office tower, Nine The Esplanade.
The specialist natural resources banking firm joins EY, Multiplex and Hub Australia at the new tower, which is under construction and due for completion in 2025.
The lease highlights an ongoing trend, with Elizabeth Quay vacuuming up bluechip workforces from St Georges Terrace for more than a year, as the city grid is reconfigured to face the riverfront.
Argonaut has taken a 10-year lease of about 1870sqm across one floor of the tower, shown in an artist’s impressions above. It boosts office leasing pre-commitment levels in the upcoming tower to about 39 per cent.
Nick Ozich, Brookfield Properties senior vice-president, property and developments, said tenants were gravitating to premium buildings like Nine The Esplanade because they provide their staff with a healthy workplace through “quality design, work place innovation and outstanding onsite amenities”.
Adrian Pozzo, the chief executive of the building’s co-owner, Cbus Property, described the building as part of the “flourishing fabric of Elizabeth Quay and the wider Perth community”.
Argonaut group managing director Greg Southee, said the company was excited to move to a single floor of the upcoming tower.
Nine The Esplanade is the second commercial tower to be developed in the Elizabeth Quay precinct by Brookfield Properties, on behalf of Brookfield Asset Management.
It follows the recently completed neighbouring building One The Esplanade, which is fully leased. It is Cbus Property’s second commercial office development in Perth, following 140 William Street about 10 years ago.