Chevron given green light for Elizabeth Quay $360m tower
The state government has given the final tick of approval for Chevron Australia's 30-storey office high rise to be built at Elizabeth Quay.
The Metropolitan Redevelopment Authority on Monday gave the green light to building plans for the $360 million tower, which will include a gym, childcare centre and exhibition and conference facilities.
Chevron, which purchased the lot for $64 million in 2013, is expected to be the anchor tenant for the building, with Brookfield selected as its development partner.
The oil and gas giant is likely to occupy the new 52,000sqm building by 2023, when its current office lease on St Georges Terrace expires.
Plans to build the high rise were approved after Chevron agreed to improve the building's north-facing streetscape and explore small scale retail, dining and entertainment opportunities along The Esplanade.
A clause the company invest 0.5 per cent of its development value, or $2 million, in public art within the Elizabeth Quay precinct was withdrawn from the original planning documents.
Chevron, however, did agree to the additional requirement it continue to use the lot for temporary 'pop up' events until the office building is occupied.
During its construction the Chevron Australia tower is expected to reach a peak construction workforce of 1,000 on-site.
The building (lots 7 & 8) will encompass the north-eastern corner of the Elizabeth Quay precinct to the north of the Ritz-Carlton Hotel, which is currently under construction.
Progress of other Elizabeth Quay developments
- Lots 9 and 10 - Far East Consortium are currently constructing the 204-room Ritz-Carlton Hotel and 379 residential apartments. The hotel is due to open in 2019.
- Lots 5 and 6 - the MRA and Brookfield Multiplex are working together on a mixed use office, retail and luxury apartment development at the top of the inlet. The $1.1 billion twin-tower will be Perth's tallest tower once completed.
- Lot 4 - a joint venture between powerful Perth developer Adrian Fini and Malaysia's Victor Goh plans to build a new commercial, retail and residential building along with a post-graduate education facility and short-stay accommodation geared towards student living.
- Lots 2 and 3 - EQ West twin-tower development featuring residential and short-stay apartments as well as a hotel, dining and retail precinct is expected be completed by 2019.