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A conditional agreement for lease has been signed for South32’s head office at 108 St Georges Terrace, Perth.

The building is in the centre of the CBD, formerly the head office of BankWest. South32 will have a right to exclusive roof top signage.

The lease will be for a period of 10.5 years commencing in May 2015, and will be entered into if the BHP Billiton Board decides to proceed with the demerger.

A final decision on the proposed demerger is subject to BHP Billiton Board and shareholder approval.

For South32, Perth is the ideal location for the head office as it provides the best access and time zone coverage for Australia, South Africa and Singapore. Perth is also recognised as a resource centre and has the necessary infrastructure required to support a new resources company.

Read more in the lease announcement to the Australian Securities Exchange.

Read more about the proposed demerger.

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