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197 St Georges Terrace

Owner Developer
GDI Property Group
Property
197 St Georges Terrace Perth
Energy Consultant
HFM Asset Management Pty Ltd
Building Management
Jones Lang LaSalle
Precinct
Mill Green (Includes 1 & 5 Mill St)

Building Background

A 29 storey 29,912m² NLA commercial office tower located in the Perth CBD. (Retail excluded)

The Challenge

The key objective was to deliver a seamless refurbishment to operational transfer. The refurbishment program proved challenging due to:

  • Multiple buildings on a single title site, varying leasing, fit-out and occupancy timelines.
  • The requirement for the buildings to remain operational for the term of refurbishment works.
  • Delivery of pre-commitments to secure lease contracts prior to formal property settlement.

Our Strategy

In order to minimize inconvenience to the tenants and to ensure a successful outcome; detailed planning and collaboration was required between the refurbishment
and operational management teams.

In conjunction with the development of the leasing strategy and the site’s holistic upgrade plan, a strategic refurbishment gap analysis was undertaken to identify the key efficiency related elements required within the refurbishment to meet the following criteria:

  • Compliance with BCA as appropriate;
  • Adherence, where possible, to A Grade rated building guidelines as defined by the Property Council of Australia;
  • 4.5 Star or better NABERS base building energy rating.
197 St Georges Terrace Project

Planning & Implementation

HFM was responsible for creating and implementing the Performance Management Strategy this involved collating and managing utility data, tracking the building’s performance, setting achievable targets, quantifying and verifying efficiency initiatives and driving the performance during the refurbishment (construction) phase.

We oversaw commissioning and the implementation of the performance management strategy into the operational phase to drive the targeted result.

Additionally, HFM negotiated a new electricity supply contract for the building via a formal RFP process to align with the Project objectives and timelines.

Key Outcomes

  • Satisfied tenants (comfort conditions achieved)
  • Long term leases secured to 83% occupancy (at a time when lease contracts are becoming scarce)
  • Achievement of Targeted capital value delivered
  • Targeted 4.5-star base building rating exceeded to achieve a 5 Star NABERS rating less than 12 months post project completion.
For over 15 years we’ve been transforming sites across Australia into efficient, economic and compliant assets for our clients.