140 revival has global appeal

Jul 1st, 2015

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Article by:
Marissa Lague


The retail area of CBD tower one40Willlam has had its second launch, just five years after the building opened.

With a redevelopment price tag of just over $15 million, the retail area, 140, was re-launched last week by owner Cbus Property, with a focus on food that attracted an international line up of restaurants.

"We went through due process and sat down lnternally to work out what needed to be there," Cbus Property chief executive Adrian Pozzo said.

"This time it needs to be right and it needs to work and that took a couple of years to workout."

CBD construction work dogged 140's first retailers, forcing some to close and inflicting tough trading conditions on others.

Work at Forrest Place, the closure of William Street and part of Wellington Street circled one40william when construction finished in 2010.

Its links to other buildings were also hampered by a retail renovation at the GPO Building and the stalled Raine Square project.

The redevelopment of 140 started in 2013 and involved a complete shutdown of  the ground floor to create a new food and retail precinct.

"Most of the food at 140 is international, the same as retail clothes shopping where all the internationals are coming into the country," Mr Pozzosaid.

Cbus Property worked with Lease Equity to activate 140 and make it a destination. 

"We had close to three or four retailers for every store. It was a magnificent response because we had the ability to pick and choose where to slot businesses," Mr Pozzo said.

Source: The West Australian - 1st July 2015

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