PERTH, 18 May 2012 – Brookfield Office Properties Inc. (NYSE, TSX: BPO) (“Brookfield”) today announced that it has reached practical completion on its landmark 45-level, premium-grade development and associated heritage buildings in Perth, Western Australia. The office tower is 100% pre-leased to anchor tenant BHP Billiton, PricewaterhouseCoopers and Barrick Gold.
Following practical completion, the final stages of tenant fit-outs will be completed over the coming months. Commercial office tenants, retailers and restaurant outlets will begin a phased move-in, while Café Court tenants will begin trading from 5 June. An official opening event for the precinct is scheduled for mid-September 2012.
Concurrent with the completion of the first tower, Brookfield also announced the precinct has been renamed “Brookfield Place Perth”, reflecting the prominence of the project within Brookfield’s global property portfolio.
Kurt Wilkinson, Chief Operating Officer of Brookfield Office Properties Australian Commercial Operations, said: “We are pleased to deliver such a modern, architecturally-advanced office tower that will provide our tenants with a sustainable and efficient workplace. Brookfield Place will literally redefine the skyline of the Perth CBD.
“I would like to congratulate the entire team who have worked on this project and we look forward to welcoming our tenants on-site.”
A globally-significant ‘Brookfield Place’ property
Consistent with the 242,000 square metre (2.6m square feet) Brookfield Place Toronto, Brookfield Place Perth represents a ‘best-in-class’ property which meets a number of high-specification criteria, including location, aesthetics, sustainability and provision of world-class amenities.
“The new name recognises the precinct’s global significance and its position as one of Brookfield’s premier properties in the world,” said Brian Kingston, Chief Executive Officer of Brookfield Office Properties Australian Commercial Operations.
“Brookfield Place properties are landmark office and retail precincts which define their cities’ skylines – and this is certainly the case with Brookfield Place Perth.”
Plans continue for Brookfield Place Perth’s second commercial tower, which has development approval for a 16-level, premium-grade office tower with approximately 32,000 square metres (345,000 square feet) of net lettable area.
With the inclusion of a second commercial tower, Brookfield Place will add over 107,000 square metres (more than 1.1m square feet) of premium-grade office space to Perth’s CBD.
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About Brookfield Office Properties
Brookfield Office Properties owns, develops and manages premier office properties in the United States, Canada and Australia. Its portfolio is comprised of interests in 108 properties totaling 78 million square feet in the downtown cores of New York, Washington, D.C., Houston, Los Angeles, Toronto, Calgary, Ottawa, Sydney, Melbourne and Perth, making it the global leader in the ownership and management of office assets. Landmark properties include the World Financial Center in Manhattan, Brookfield Place in Toronto, Bank of America Plaza in Los Angeles, Bankers Hall in Calgary, Darling Park in Sydney and Brookfield Place in Perth. The company’s common shares trade on the NYSE and TSX under the symbol BPO. For more information, visit
About Brookfield Place Perth
Brookfield Place Perth is one of Australia’s most significant commercial developments. Located in the heart of Perth’s CBD, the development’s centrepiece is a premium-grade, 45-level office tower known as 125 St Georges Terrace incorporating the latest in workplace design over 75,000 square metres (807,300 square feet) of which BHP Billiton is the anchor tenant. Brookfield Place Perth provides new civic space in Perth’s CBD through a unique heritage retail area, offering unique food and beverage options in some of the city’s most important sympathetically restored historical buildings. In total, the project comprises a net lettable area of approximately 86,000 square metres (926,000 square feet). Brookfield Place Perth is fully owned, managed and built by Brookfield and its subsidiaries. For more information, visit www.brookfieldplaceperth.com
For further Information, Brookfield Office Properties:
Contact: Kerrie Muskens
Head of Marketing and Communications
+61 2 9322 2753
+61 (0) 410 535 250
Contact: Melissa Coley
Vice President, Investor Relations and Communications
+212 417 7488 (USA)
Contact: Garry Nickson
MAGNUS Investor Relations + Corporate Communication
+61 2 8999 1004
+61 (0) 414 930 082
This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Although Brookfield Office Properties believes that the anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Accordingly, the company cannot give any assurance that its expectations will in fact occur and cautions that actual results may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements and information include, but are not limited to, general economic conditions; local real estate conditions, including the development of properties in close proximity to the company’s properties; timely leasing of newly-developed properties and re-leasing of occupied square footage upon expiration; dependence on tenants' financial condition; the uncertainties of real estate development and acquisition activity; the ability to effectively integrate acquisitions; interest rates; availability of equity and debt financing; the impact of newly-adopted accounting principles on the company's accounting policies and on period-to-period comparisons of financial results; and other risks and factors described from time to time in the documents filed by the company with the securities regulators in Canada and the United States, including in the Annual Information Form under the heading “Business of Brookfield Office Properties – Company and Real Estate Industry Risks,” and in the company’s most recent interim report under the heading “Management’s Discussion and Analysis.” The company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by law.