Centro Properties Group has confirmed it will sell all its United States assets and look to merge all Centro properties into one fund as part of a restructure aimed at returning value to shareholders.
Nomad Building Solutions says losses associated with the completion of its Gorgon contract were the main contributing factors to its $18.7 million first half loss.
Perth house prices fell 1.5 per cent in January, amid a national fall of 1.6 per cent that further dampened growth as natural disasters swept across the nation, a survey shows.
The fallout from troubled office development Raine Square continues, after receivers seized control of a nine storey office tower on St Georges Terrace and the New Esplanade Hotel.
A stronger Australian dollar saw Centro Properties Group's first half net profit surge to $553 million, but wasn't enough to prevent a company restructure prompted by its heavy debt burden.
National development giants Lend Lease, Australand and Mirvac have been shortlisted by the state government to develop five sites in Karratha's city centre and to develop a 160-hectare, 2,500 dwelling estate at Mulataga.
The state government has claimed it will save taxpayers $11 million a year through office consolidation, but refurbishment costs for the relocated departments' new homes are expected to reach more than $85.9 million.
Perth-based residential development group Peet has announced an interim profit of $22.2 million, driven largely by price and margin growth in Victoria.
Entrust Funds Management has called on Aspen Group to shed more light on its position in relation to a series of recommendations the group put to its shareholders earlier this week.
Accountancy firm PwC has signed a ten-year lease agreement with Brookfield Office Properties to occupy 8,500 square metres of office space in City Square.
The three Aspen Group directors subject to a movement to remove them from the company's board have denied claims that the group had lost its way and had underperformed since jettisoning co-founder Angelo Del Borello in June last year.
Planning Minister John Day says he is hoping to stimulate population growth and economic activity in the Wheatbelt with the approval of two significant residential development proposals in Gingin and York.
Besieged property developer Luke Saraceni has been ordered by the Supreme Court to place $1.3 million transferred out of Westgem Investment's accounts the day before receivers were appointed into a trust managed by his lawyers.
Aspen Group has finalised a deal to acquire a $183 million office development in Adelaide from one of its part-owned funds, which had previously been unable to secure a pre-sale of the building.
Westfield Group has reported a $1.1 billion profit for the year to December 2010, compared with a loss of $457.8 million in the prior corresponding period, the Sydney-based group said in a statement on Wednesday.
The state government has released detailed design plans for the Perth waterfront redevelopment, and has set aside $270 million in the 2011-12 state budget to kick off construction early next year.
Australand Property Group has forecast earnings to grow by at least five per cent in 2011 after returning to profitability in 2010 and says the outlook for residential, industrial and office sectors remains positive.
Embattled property developer Luke Saraceni has filed a writ in the Supreme Court to have KordaMentha removed as receivers for troubled $500 million office development Raine Square.
Receivers for embattled office development Raine Square have seized another Saracen Properties asset in Subiaco, after the sale of Saracen's neighbouring property was settled last Thursday in deal worth around $67 million.
The founder of failed property investment group Westpoint, Norm Carey, was today found guilty of five charges of making false or misleading representations regarding a residential property development in Rivervale.
Residential developer Aspen Group has backed off on its claim that its board of directors were unanimous that it was not in the company's best interests for dumped co-founder Angelo Del Borello to return.
Bunnings Warehouse Property Trust says it will target acquisitions for growth after it reported a $26.4 million interim profit, up 4.5 per cent on the previous corresponding period.
Residential rents have increased for the first time in a year, according to the latest market analysis by the Real Estate Institute of Western Australia.
COMPETITION between tenants is expected to place upwards pressure on rents, that could be the lone bright spot in a struggling residential property market, according to REIWA president Alan Bourke.
Western Australia’s housing construction market is seemingly emerging from its three-year trough, with industry figures showing new home sales increased for a third consecutive month in December.
PERTH’S office market is starting to tighten again for the first time since the middle of 2008 when the vacancy rates virtually hit zero at the height of the boom.
Developer Aspen Group says it is ready to commence development of its latest residential land syndicate, the Enclave at St Leonards, after it received bank approval for borrowing facilities.
