Primewest has secured a deal with the Federal Government on behalf of one of its managed funds to build a brand new office building designed by Cox Architecture in Bunbury, the largest regional city in Western Australia.

The company will develop, design and construct the 4,500sqm building for tenant Services Australia - formally the Department of Human Services.

Designed by Cox Architecture the four storey, A-grade office tower is expected to be complete by mid-2022. Primewest also has plans to further develop the site to create an office park on the land surrounding the new development.

Primewest National Leasing Manager Jemma Hutchinson said the deal had been two years in the making and was great news for the retailers of the adjoining Bunbury Centrepoint shopping centre which is also owned by a Primewest fund.

Ms Hutchinson said more than 145 jobs were expected to be created during the project delivery phase, with approximately 12 per cent of the on-site workforce expected to be new apprenticeships.

She said it was estimated that around 370 Services Australia employees would occupy the new building.

“This project will leave a lasting legacy on the Bunbury CBD footprint and create a huge number of jobs at a time when employment and private investment is greatly needed,” Ms Hutchinson said.  

“We have worked for a long time to secure this deal and are extremely optimistic about the further development of the area with negotiations already underway with potential tenants for the remainder of the site.

“Today’s announcement that Services Australia has made a 10-year commitment is very positive news and highlights the ongoing optimism in our State and economy.”

Primewest Director Jim Litis said he was delighted to extend Primewest’s tenant relationship with Services Australia in Bunbury.

“The Commonwealth Government is a major tenant across our property portfolio,” Mr Litis said.

“We strongly value our relationship with the various Government agencies we partner with and look forward to delivering a quality workplace environment that will support the delivery of their services to the Western Australian community” he said.

“Primewest has a long and proud history in Western Australia, with a diversified portfolio of commercial office, retail, agriculture and logistics properties located throughout the State.”

Bunbury Mayor Gary Brennan congratulated Primewest on securing this important project which will further add to the vibrancy and viability of the City’s Central Business Area.

Mr Brennan acknowledged the long association and confidence Primewest had in Bunbury and the city’s long term future growth.

He also acknowledged the Federal Government’s ongoing support and commitment to Bunbury and the South West community by locating these services in Bunbury.

ASX listed Primewest (ASX:PWG) is an Australian property fund manager with $4.9 billion of assets under management across all mainland states of Australia and in the west coast of the USA. Established in 1995, PWG manages assets in the retail, industrial, commercial, residential, large format retail and agricultural property sectors with a focus to achieve maximum returns for holders of its stapled securities and investors in the underlying funds it manages.