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
Current tenants Allen & Overy
Australian Government Solicitor
Bell Potter
Etihad Airways
Kansai Electric Power Company
Knight Frank
Mitsubishi
Moore Stephens
Perpetual
RSM Australia
Sumitomo Mitsui Banking Corporation
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
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 (AGC) and the Japanese C. Itoh and Shimizu.[8] Construction on the building started during the 1980s property boom at a cost of between $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]

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]