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DOME COCKBURN CENTRAL… SUCCESS

The second stage of Giorgi Group’s Plaza 817 at the Cockburn Central has been snapped up by Dome Coffees Australia, occuping a brand new two level building spanning over 500m2, one of its largest in Western Australia.

Axia Corporate Property’s Leasing Executive, Franco Gangemi said the fitout for Dome was believed to have cost in excess of $1.7 million, indicating the company’s investment commitment to the area and wanting to capitalise on the growth that Cockburn has and will continue to experience. Securing Dome was the catalyst and the anchor of the retail component of this $30 million mixed use development. “We were seeking a tenant that would anchor the development and provide an amenity for the 2,500m2 of office space that had been fully occupied and a focal point for the Cockburn Central office occupants and residents alike”.

Other tenants and owner occupiers who have been quick to take up space in stage two of Plaza 817, include a 250m2 Australia Post Business Centre, international franchise, Crust Gourmet Pizza, Pasta Cup, Baskin & Robbins, Greg’s Discount Pharmacy and Specialized Bicycles.
Mr Gangemi said the rents achieved for the retail component of Plaza 817 were benchmarks for a development of this nature and the area. “The rental levels achieved are reflective of the growth of Cockburn and the trading strength that this area has to offer.” Mr Gangemi continued by saying, “We have been very selective with our tenancy mix, identifying retailers and service providers who will provide a combination of both day and night trading, and Dome played an integral part of this mix, to service the large number of office occupants and residents in the area and to create a dwell time offer for the development. All of this is integral in making a large mix use complex such as Plaza 817 viable’.

“The sales and leasing demand was extremely strong, firstly, as buyers were wanting to take advantage of the rare opportunity in owning a freehold commercial investment within Cockburn and knowing, from Giorgi Group’s reputation in delivering a quality product, the end result of the development. The Leasing demand was so strong, that we could have build this development three times over and there would still have been tenants who would have missed out in securing a Lease”.

Cockburn Central is one of Perth’s fastest growing suburbs strategically positioned along the shoulder of the Kwinana Freeway, adjacent to Cockburn Central Train Station and just 20km from the Perth CBD.

– as published in The West Australian, Wednesday, 24th April 2013 –