^{Photo: 1 Cambridge Street}

Cushman & Wakefield is pleased to announce the successful brokerage of a deal for Centrewest Insurance Brokers, who officially celebrated the opening of its new office at 1 Cambridge Street on Wednesday, October 9. Spanning 1,223sqm, this new location positions Centrewest as a leader in Perth's commercial suburban office market.

Scott Cole, CEO of Centrewest Insurance Brokers, commented,

“Key drivers behind our decision to relocate included our desire to move to an A-grade asset that offers outstanding visibility and branding opportunities, as well as close proximity to our clients. The high-quality fit-out serves as an impressive showcase for our business and staff. Providing our employees with an innovative workspace that fosters collaboration, alongside nearby amenities, was paramount in our decision.”

Royal Oak Capital, an integrated fund manager, acquired 1 Cambridge Street in July 2022 and has since invested $6 million in upgrades and refurbishments. Enhancements include a fully renovated lobby, new lifts and end-of-trip facilities, LED lighting, and abundant natural light throughout.

Alex Gismondi and Ben Jones, CEO and Executive Director at Royal Oak Capital, stated, “1 Cambridge is now comparable to many CBD A-grade assets. The ongoing revitalisation of West Leederville, with the addition of new breweries, bars, restaurants, and amenities, makes this location highly desirable for tenants.

1 Cambridge Street will continue to benefit from the wave of activation in West Leederville. The building offers ample secure parking with 122 car bays and has just one floor left available. The last 1,200sqm speculative fit-out is expected to be completed by late November.”

Roly Egerton-Warburton, National Director, Head of Office Leasing, WA, added, “We’re very pleased to have secured such high-quality tenants—Centrewest and Enscope—for our client, Royal Oak Capital

This asset is ideal for tenants seeking, large efficient floor plates that meet modern workspace requirements and amenities, while providing exceptional access to freeways, transport and the CBD. We are witnessing a growing trend of tenants eager to relocate closer to the CBD from outer suburbs, driven by the demand for contemporary workspaces and excellent connectivity”.