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Exchange Tower, Perth
Skyscraper in Perth, Western Australia From Wikipedia, the free encyclopedia
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Exchange Tower, formerly Exchange Plaza, is a 40-storey skyscraper in Perth, Western Australia. Completed in 1992, the 146-metre (479 ft), it is the seventh tallest skyscraper in Perth.[6]
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Site history and construction
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.[7] The land was leased by the Weld Club to the tower's developers for 135 years.[7]
The building was the result of a 50–50 joint venture between Australian Guarantee Corporation (AGC) and the Japanese C. Itoh and Shimizu.[7] Construction on the building started during the 1980s property boom at a cost of between $220 million and $230 million.[7] The tower was built by Multiplex,[8] topping out occurred in mid-1991[9] and construction completed in 1992.[4]
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Post-completion
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Considered one of Perth's premium office towers,[10] 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.[11]
The roof of the building has been used as a base from which to launch shells in the annual City of Perth Skyworks fireworks display.[12]
Ownership
In 1992, Westpac bought out the share in the development of C. Ito and Shimizu, and took over the AGC share in the property.[7] Westpac put the tower's leasehold on the market in late 1996 at a hefty discount to its development cost.[7] 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.[13] This was the largest CBD office purchase since AMP purchased 108 St Georges Terrace in 1994.[14] Control of the building was obtained by AMP Asset Management when it took over the Schroders property portfolios in 1999.[10]
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.[15] In late 2011, AMP Asset Management purchased Stockland's stake.[16]
In early 2018, Exchange Plaza was renamed Exchange Tower.[17][18] In December 2018, AMP Capital Wholesale Office Fund and Primewest sold the Exchange Tower to the Primewest Counter Cyclical Trust[19] It was included in the 2021 takeover of Primewest by Centuria.[20]
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Design
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Exchange Plaza was designed by architects Peddle Thorp & Walker.[4][5] It is a steel-framed structure with pre-cast concrete floor panels.[21] The exterior of the building is fully glazed with curtain walls, which step back at the upper levels.[22] The unique blue glass was produced in a one-off batch by Pilkington.[21]
The building features a 150-seat conference centre and uninterrupted river views from most levels[23] all across Perth Water and west all the way to Rottnest Island.[11]
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,[22] and involved the construction of the deepest wall that had ever been built in Perth.[22] The complex also includes a 10-storey podium building fronting Sherwood Court.[21]
As part of the development, dining, accommodation, tennis and bowls facilities were constructed for the Weld Club.[21] The existing bowling green of the Weld Club had to be excavated for the construction of the car park, then replaced.[9] 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.[9]
References
External links
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