The Durack Centre, one of Stockland’s last remaining commercial assets in Perth, is for sale through JLL Perth and CBRE Perth. The centre contains three buildings (held on a long term lease from July 1st, 1985, with two 33-year renewal options) with frontages to 2 Victoria Avenue, 263 Adelaide Terrace and Terrace Road.
The property is owned by the Stockland Trust in which units are 'stapled' to shares in Stockland Corporation Ltd and traded together on Australian Securities Exchange as Stockland.
The main building on the northern end of the land is 13 storeys (45m) plus two basement parking levels and 140 car parks; The College of Law and Australian Bureau of Statistics are amongst its occupants. To Adelaide Terrace is E B Johnston House, a two-storey, brick mansion which was built in 1886. It was once occupied by colourful West Australian Senator Bertie Johnston before his mysterious death in 1942 and is today occupied by legal firm, Murray Chambers. The third building is the Optus Centre, a five-level building on the southern end of the site. In 2009 Stockland was awarded Western Australia's first 6 Star Green Star rating for this building.
Durack Centre last traded at $49.1 million as part of an asset swap between Stockland and Hawaiian Pty Ltd. The asset swap involved Hawaiian acquiring 50 Pitt Street in Sydney for $55 million and Stockland purchasing the leasehold of this property.