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Exchange Tower has bucked the  market trend and enjoyed  significant leasing activity during the last  few months despite a challenging office market in Perth. A continued focus on understanding and responding to customer needs, coupled with significant investment has seen vacancy in the building  fall below 15  per cent. This represents an improvement from the rate of more than 37 per cent earlier this year.

Exchange Tower is a 40-level, premium-grade  office tower located just off St Georges Terrace in the heart of the Western Australian capital and in close proximity to Elizabeth Quay and Perth's major shopping malls.

As part of the ongoing  investment in Exchange  Tower by joint owners the AMP Capital Wholesale Office Fund (AWOF) and Western  Australia-based property investor Primewest, works have commenced for a significant  refurbishment of the ground floor lobby which follows the completion of state-of-the-art end of trip facilities and an increased retail presence on the ground floor. Plans are underway for upgrades of the forecourt and lifts.

The world's sixth largest accounting group, RSM, has committed to lease 3,281 square metres of space over three high-rise levels in Exchange Tower and will also take signage rights after negotiating a long- term lease in the building.

RSM's move is one of four major new deals in  Exchange Tower, with international engineering group ARUP, multinational technology company Fujitsu and  national law firm Moray and Agnew also relocating to the  building.

ARUP is  leasing 1,500  square metres of space on  level 14, Fujitsu is taking  1,309 square metres on level 9 and Moray and  Agnew is leasing 1,092 square metres on level 30.  Other recent new tenants include Quayside Chambers, Viva Energy and WTP. The moves follow a targeted leasing campaign managed  by Ian Edwards, Knight Frank.

Exchange Tower is already home to some of Perth's leading commercial  and public institutions including Patersons, Morgan Stanley, Bell Potter, Allen & Overy, Bain, Ministerial & Parliamentary Services, Mitsubishi, Mitsui and Knight Frank.

AMP Capital Office & Industrial  Managing Director Luke Briscoe said: "We're delighted to welcome our new tenant customers to Exchange Tower who will benefit  from the prime Perth  location, increased service  and amenity and the significant investment the owners have made in this premier business address."

Primewest director John Bond said: "The ability to attract tenants of this calibre in a tough leasing  market was testament to the joint owners' ongoing  commitment to adding value  to the asset and surpassing the expectations of existing  and new tenants."