Exchange Plaza

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Exchange Plaza
Exchange Plaza daytime.jpg
Exchange Plaza
General information
Status Complete
Type Office tower
Location 2 The Esplanade,
Perth, Western Australia
Coordinates 31°57′22.28″S 115°51′31.39″E / 31.9561889°S 115.8587194°E / -31.9561889; 115.8587194Coordinates: 31°57′22.28″S 115°51′31.39″E / 31.9561889°S 115.8587194°E / -31.9561889; 115.8587194
Opening 1992
Owner AMP Asset Management (50%);
Colonial First State Property PPS Fund (50%)
Height
Roof 146 m (479 ft)
Technical details
Floor count 40 (including basement and plant levels)
Floor area 34,479 m2 (371,130 sq ft)
Design and construction
Architect Peddle Thorp & Walker
Structural engineer Bruechle Gilchrist & Evans (BG&E)
Main contractor Multiplex
References
[1][2][3][4][5]

Exchange Plaza is a 40-storey skyscraper in Perth, Western Australia. Completed in 1991, the 146-metre (479 ft) building is the State headquarters of the Australian Securities Exchange.[6] Currently it is the fifth tallest skyscraper in Perth after QV.1, the BankWest Tower, City Square and Central Park.[7]

Site history and construction[edit]

The land on which the tower stands is owned by the historic Weld Club, a gentlemen's club located at the rear of the site, at the corner of Barrack Street and The Esplanade.[8] The land was leased by the Weld Club to the tower's developers for 135 years.[8]

The building was the result of a 50–50 joint venture between Westpac subsidiary Australian Guarantee Corporation and the Japanese C. Itoh and Shimizu.[8] Construction on the building started during the 1980s property boom at a cost of between A$220 million and $230 million.[8] The tower was built by Multiplex,[9] topping out occurred in mid-1991[10] and construction completed in 1992.[4]

Post-completion[edit]

Considered one of Perth's premium office towers,[11] in July 2008 a portion of space halfway up Exchange Plaza was leased for $900 per square metre: the highest cost per square metre ever seen in Perth.[12]

The roof of the building has been used as a base from which to launch shells in the annual Lotterywest Skyworks fireworks display.[13]

Ownership[edit]

In 1992, Westpac bought out the share in the development of C. Ito and Shimizu, and took over the AGC share in the property.[8] Westpac put the tower's leasehold on the market in late 1996 at a hefty discount to its development cost.[8] The leasehold was purchased in April 1997 by Schroders Property for $106 million. The acquisition was structured as a 50-50 joint venture between the Schroders Property Fund and the unlisted Schroders Private Property Syndicate.[14] This was the largest CBD office purchase since AMP purchased the BankWest Tower in 1994.[15] Control of the building was obtained by AMP Asset Management when it took over the Schroders property portfolios in 1999.[11]

In June 2003, Stockland bought a 50% share in the building.[2] By 2006, the building was jointly owned by Stockland Trust Group and Colonial First State Property PPS Fund.[16]

In late 2011, AMP Asset Management purchased Stockland's stake for $157.7m.[17]

Design[edit]

Exchange Plaza was designed by architects Peddle Thorp & Walker.[4][5] It is a steel-framed structure with pre-cast concrete floor panels.[18] The exterior of the building is fully glazed with curtain walls, which step back at the upper levels.[19] The unique blue glass was produced in a one-off batch by Pilkingtons Australia.[18]

The building features a 150-seat conference centre and uninterrupted river views from most levels[20] all across Perth Water and west all the way to Rottnest Island.[12]

The building has 34,479 square metres (371,130 sq ft) of net lettable area[2] across 33 commercial office levels.[4] In addition there are three plant floor levels and five basement parking levels,[4] with 236 car parking spaces.[2] Construction on the southern car park started in January 1998 and finished in May 2000,[19] and involved the construction of the deepest wall that had ever been built in Perth.[19] The complex also includes a 10-storey podium building fronting Sherwood Court.[18]

As part of the development, dining, accommodation, tennis and bowls facilities were constructed for the Weld Club.[18] The existing bowling green of the Weld Club had to be excavated for the construction of the car park, then replaced.[10] In order to preserve as far as possible the historic character of the Weld Club site, the developers had to secure century-old bricks and tiles to integrate the base of the tower with the Club complex.[10]

Gallery[edit]

See also[edit]

References[edit]

  1. ^ "Exchange Plaza, Perth". Emporis. Retrieved 19 November 2008. 
  2. ^ a b c d "Exchange Plaza: Key Property Information". Stockland. Archived from the original on 24 July 2008. Retrieved 19 November 2008. 
  3. ^ "BG&E Pty Ltd - Perth (WA)". ConstructionSite. Retrieved 19 November 2008. "Projects/Products: Building Structures: Central Park and Exchange Plaza (Perth)" 
  4. ^ a b c d e "Building Specifications: Profile". Exchange Plaza. Archived from the original on 19 July 2008. Retrieved 20 November 2008. 
  5. ^ a b "Exchange Plaza, Perth". SkyscraperPage.com. Retrieved 19 November 2008. 
  6. ^ "Contact ASX". ASX Limited. Archived from the original on 1 August 2008. Retrieved 23 November 2008. "State offices — Perth: Exchange Plaza, 2 The Esplanade, Perth, WA, 6000" 
  7. ^ "Perth". SkyscraperPage. Retrieved 23 November 2008. 
  8. ^ a b c d e f Mansell, Ingrid (4 September 1996). "Westpac Calls For Tenders On Exchange Plaza". The West Australian. p. 52. 
  9. ^ McCulloch, Joanne (24 March 2002). "Multiplex opts for home rule". The West Australian. p. 45. 
  10. ^ a b c "Exchange Plaza". Multiplex News (Multiplex). Aug–Oct 1991. p. 10. 
  11. ^ a b Spencer, Fran (25 August 1999). "AMP Picks Up Schroders Arm In $112m Deal". The West Australian. p. 63. 
  12. ^ a b Saunders, Cathy (2 July 2008). "Boom sends city rents soaring to Paris levels". The West Australian. p. 1. 
  13. ^ See e.g. James, Amanda (26 January 2001). "Fireworks Wizard To Perform His Magic". The West Australian. p. 6. 
  14. ^ Pam Brown, David Watts, Sue Yeap, Chris McLeod, Mark Naglazas (1 May 1997). "$106m Plaza Deal Settled". The West Australian. p. 49. 
  15. ^ Callaghan, Ruth (2 July 1997). "Commercial Sector Hits Back". The West Australian. p. 67. 
  16. ^ Low, Catie (19 May 2004). "Exchange Plaza sees influx of arrivals". The West Australian. p. 61. 
  17. ^ Carter, Bridget (16 May 2013). "Colonial tipped to sell stake in Exchange, offload malls". The Australian. 
  18. ^ a b c d "Multiplex turns 40". Construction Industry Annual Review (East Perth: Australian Resource Media). 2003. p. 50. 
  19. ^ a b c "Exchange Plaza, Perth". Brookfield Multiplex Construction. Retrieved 19 November 2008. 
  20. ^ Staff writer (29 July 2004). "Leasing Opportunities". WA Business News. "The 40-storey tower has modern facilities including a 150-seat conference centre with projection and sound equipment, high-speed lifts and river views from most floors." 

External links[edit]