Perth residential property prices fell 0.8 per cent in the June quarter, to be down 3.1 per cent across the financial year, according to data released by the Australian Bureau of Statistics today.
The new owner of 335 Wellington Street, home to the Wellington Surplus Stores for 75 years, has lodged an application with the City of Perth to build a $70 million student accommodation building.
Osborne Park-based software as a service provider Servtech Global has agreed to sell its rent roll business in two parcels totalling $1.5 million to Summit Development Corporation, part of the Summit Homes Group, and Housemart Real Estate.
Property developer Sirona Capital has today unveiled plans for the 5,500 square metres-plus retail component of its $270 million Kings Square project in Fremantle.
The Perth office of Wood & Grieve Engineers has coupled industry design software with the gaming world to create a new virtual reality tool for land developers.
The building on the corner of Wellington and Pier streets, most recently home to the Wellington Surplus Stores, and an adjoining property have been purchased in an off-market deal for $8.4 million.
A Murray Street basement once home to the pattern cutters and seamstresses of Perth fashion label Pierucci is set to become the city’s newest live music venue, The Sewing Room.
Service providers and developers are pursuing opportunities in WA’s growing aged care and retirement sector, with a pipeline of property overhauls and new builds worth more than $500 million.
Probuild has today started construction work on Sirona Capital’s $270 million Kings Square Fremantle renewal project, which will comprise a mix of commercial office and retail space, as well as a new administration and civic centre for the City of Fremantle.
Perth house prices took another hit last month, with the median slipping 0.8 per cent as the combined value of the nation’s capital cities edged 0.1 per cent higher.
Georgiou Group has started preliminary construction work on a new $150 million direct factory outlet near Perth Airport, which will include 120 specialty stores.
Building products manufacturer Boral has been dented by the continued weak performance of its Western Australian operations, reporting lower underlying earnings and a $20 million asset impairment for its WA bricks business.
The Insurance Commission of Western Australia has today accepted an offer from Sydney-based GDI Property Group for the Westralia Square office building in the CBD, taking total proceeds from its property sales over the past two years to more than $800 million.
SPECIAL REPORT: Property groups are chasing retail opportunities in Perth’s CBD with a pipeline of upgrades and developments worth more than $250 million.
Six new leasing deals have been confirmed for the CBD this week, including strategic communications company Cannings Purple, which has today announced its relocation from West Perth to Brookfield Place Tower 2.
Peet managing director Brendan Gore says strong market conditions on the east coast helped the land developer achieve a higher net profit for the 2017 financial year.
A consortium that includes Ventura Home Group has been chosen to build the state government’s $21.8 million Amble Estate residential development on the old Hainsworth primary school site.
Crown Towers Perth has been named Western Australia’s best deluxe accommodation hotel at an industry awards ceremony, beating the likes of COMO The Treasury and Pan Pacific Perth.
Fourth-generation commercial building company W Fairweather & Son was named the winner of the Master Builders Association’s Robert Law award at an event in Perth today.
Cottesloe-Claremont has been named the country’s fastest growing area for apartments, despite Western Australia continuing to have one of the lowest shares of medium-density housing approvals of all the states, according to a Bankwest report released today.
