19 Sep 2006

Cbus gets green light in WA

The West Australian government has named Cbus Property as the preferred proponent for a $200 million project above a new underground station at 140 William Street in Perth’s central business district. State Planning and Infrastructure Minister Alannah MacTiernan said yesterday the Evolution Consortium, owned by Cbus, had been chosen from three shortlisted developers. 

The move is Cbus’s first into WA and the company said it planned to expand. Grocon and Multiplex, both of which have recently reiterated their interest in the project and aggressively bid for it, missed out. However, Grocon was named the reserve proponent. 

In September, the WA government in effect underwrote the project when it pre-committed to lease 22,000 square metres of space for government offices for 15 years. It is expected the total development will exceed 40,000 sq m. 

The project site is located in the city’s retail heart and above the new underground platforms for the Perth-Mandurah railway link. It is expected to alleviate a critical space shortage. 

As a development condition, the government is requiring a five-star green rating for the building under the Green Building Council’s rating system. This will make 140 William Street Perth’s first five-star green building.

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