Online learning and education developer, GO1, will relocate its Perth branch to the ground floor of the 143 Hay Street address, following the departure of previous tenants, Uber and RM Capital in June this year.

Located on the ground floor, the 302 sqm modern office suite includes a reception area, boardroom, meeting rooms, kitchen, open plan workspaces, and storage and shower facilities.

Meanwhile, in a second deal, tax and accounting services provider Trove Group has committed to lease a 392 sqm space on the first floor. 

CBRE’s Rick McKenzie, who negotiated the deals, said the transactions highlighted the strong appeal of fitted tenancies in Perth’s fringe suburbs. 

“While vacancy remains elevated in Perth’s office market, what these transactions highlight is the consistent demand for quality fitted space. Building owners who are prepared to invest in re-birthing existing fit-outs, and/or create speculative fit-outs will attract tenants and benefit from reduced letting up periods,” Mr McKenzie said. 

Sublease availability is currently sitting at its highest level in two and half years, according to recent CBRE research. 

After nine consecutive quarters of a falling sublease rate, CBRE Senior Director, Office Leasing, Andrew Denny said it was only a matter of time before an increase occured.

“Sublease availability represents just 1.4 per cent of total CBD stock and these figures are the second lowest in six years,” Mr Denny said. 

“A certain level of sublease availability is to be expected in any market given the normal changes that occur as businesses adjust their space requirements. This slight increase in sublease availability does not contradict our view that the Perth CBD leasing market is showing good signs of recovery, with further significant strengthening likely in the next 12 months.”

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