PERTH, 14th August 2026: The recently refurbished office building at 8 St Georges Terrace is being brought to market by JLL and CBRE. The sale presents a fully leased investment opportunity in the Perth office market, which continues to show strong performance indicators.
The eight-level building offers 4,297 sqm of net lettable area and is 100% leased to a diverse mix of tenants, delivering a weighted average lease expiry (WALE) of approximately 3.8 years. The property has also received a significant circa $8.8 million capital upgrade program that delivered an improved arrival experience, new entrance lobby with a shared conference room, state-of-the-art end-of-trip facilities, modernised on-floor lobbies and bathrooms, and a roof-top solar array.
Aaron Desange, Head of Capital Markets WA, CBRE, said the scale of the refurbishment provides significant underlying value. “8 St Georges Terrace offers a compelling investment case with significant embedded value in its $8.8 million upgrade program. Given today’s construction cost environment, replicating this work today would probably cost more like $13 to $14 million, so the heavy lifting that’s been done here significantly underpins an incoming purchaser’s cash-on-cash returns,” said Mr Desange. Nicholas Volk, Associate Director, CBRE, highlighted the infrequency of similar sales. “St Georges Terrace assets of this price-point are rarely offered, with only eight sub-$30 million Terrace properties existing, of which only five have sold in the past 15 years,” Mr Volk noted. Perth’s office market is currently outperforming other capital cities, supported by positive net absorption, rising rents, and declining vacancy.
Sean Flynn, Senior Director of Capital Markets WA, JLL, commented on these dynamics, stating, “8 St Georges Terrace presents a compelling opportunity for investors to capitalise on some very strong underlying market fundamentals in Perth. The CBD office market is outperforming relative to eastern seaboard markets, supported by positive net absorption, upward momentum in face rentals, and declining vacancy rates,” said Mr Flynn. The building’s lease expiry profile provides exposure to future rental growth in a market with limited new supply forecast.
Nigel Freshwater, Senior Director of Capital Markets WA, JLL, added, “This asset offers attractive income returns underpinned by its proven leasing performance. Its expiry profile aligns perfectly in a market with no new supply expected until 2030 at the earliest, positioning an incoming owner to drive rents and generate outperformance.”
The property has secured eight new leases, totalling approximately 66% of the building's NLA, since the start of 2025. News release 8 St Georges Terrace is offered for sale on behalf of Quintessential via an Expressions of Interest campaign, closing at 2pm AWST on Thursday, 17 September 2026.
View the listing here >> https://www.commercialready.com.au/properties/8-st-georges-terrace-perth-wa-6000-32850
