$100M TRANSFORMATION OF MIDLAND ASSET COMMENCES

Leading WA developer and property investor Georgiou Capital has commenced work on a $100 million-plus transformation of the former Landgate Building in the heart of the Midland CBD, with the project set to see a comprehensive refurbishment of the 30-year-old office asset.

An important first step of the project commenced recently, being the preparation and fitting out of interim office accommodation in the building which will be occupied by Landgate personnel while the main refurbishment works are progressively undertaken during late 2022 and throughout 2023.

The two-year project will include extensive modernisation and replacement of the building’s services, creation of improved occupant amenities including end-of-trip facilities, better functionality and connectivity of internal workspaces, and a range of external building modifications to create a contemporary look and feel for the building.

The refurbishment will also include the installation of new modern plant and equipment and other sustainability initiatives, which will improve operational efficiency and are expected to see the base building’s energy rating achieve 4.5 Star NABERS or better.

Georgiou Executive Director Jon Smeulders said the transformation was a complex project and represented a significant undertaking for the company.

“This is anything but a simple and straightforward project – we are carrying out an exhaustive internal and external modernisation of the building, while at the same time ensuring the current occupier, Landgate, can maintain its full extent of business operations and its staff are able to work in a safe and comfortable environment,” he said.

“We have worked closely with key Landgate staff and Department of Finance personnel to plan the various steps and stages required to progressively refurbish the property without the need for the agency’s staff to relocate to another building while work is completed. This has required strong collaboration and cooperation by all parties.”

In addition to the extensive upgrade and refurbishment of the base building, the project will also see Georgiou undertake procurement and construction of a new tenancy fitout to create a modern and highly efficient working environment for Landgate, Department of Communities and Child & Adolescent Health Services staff.

The State Government’s lease will see the north and centre building nodes occupied for 15 years, with a further 3,300sqm of office space still available for lease in the south node.

Georgiou’s comprehensive refurbishment program is expected to be completed in mid-2024.

“Georgiou is making a very substantial investment in the property, and in turn the future vibrancy of the Midland CBD – which will become a thriving government services hub,” said Mr Smeulders.

“With a sizeable government workforce coming and going from this central location each weekday, there will be a positive flow on effect for local businesses and retail outlets.

“The refurbishment works will also deliver a boost to the economy, creating a total of some 420 direct and indirect jobs over the course of the two-year project, with subcontractors involved in the build encouraged to use local suppliers and businesses, where possible.”