With Western Australia’s strong economy continuing to drive demand for industrial land, owner occupiers and investors are securing industrial land as fast as it is being supplied.
Although LandCorp is charged with supplying industrial land, purchasers are making substantial profits through sales, subdivision and increasing rents.
The Satterley Group last week announced a joint venture with Linc Property and John Poynton in purchasing a 4.3-hectare bulky goods site from the Midland Redevelopment Authority for $11.8 million.
The State Government has opened the door to the possibility of a joint venture to redevelop the old treasury buildings on the corner of Barrack Street and St Georges Terrace.
Outgoing national president of the Royal Australian Institute of Architects, Warren Kerr, says the appointment of a government architect, Professor Geoff London, was the most tangible legacy of the Year of the Built Environment.
Siteworks have started for a nine-storey, 32-apartment complex at 990 Wellington Street, West Perth, which has generated controversy amid claims the development is outside City of Perth’s Town Planning Scheme guidelines.
The Housing and Urban Research Institute of Western Australia (HURIWA) has appointed Associate Professor Fiona Haslam McKenzie as the first full-time director.
Peter Laurance’s Pivot Group is gearing up to begin a $140 million, three-level retail development at 100 St Georges Terrace, creating a significant new retail precinct in the CBD.
Increasing speculation over the health of the residential property market is adding to the growth in investors and owner-occupiers buying small industrial properties.
Owners of office development sites are actively marketing to attract anchor tenants amid falling vacancy rates, a tightening of space availability and increasing investor interest not seen for a decade.
The State Government has announced the establishment of a Major Governments Projects Taskforce, which is viewed as a major step in achieving a co-ordinated approach to the revital
Vasse Newtown has broken its own sales record with 145 lots selling in seven and a half hours, and more than 100 people camping overnight to secure their blocks, according to orga
The Mirvac Group has announced the establishment of an industrial trust in the US valued at approximately $487 million and to be listed on the Australian Stock Exchange.
Investors in a unit trust that owns the May Holman Centre at 32 St Georges Terrace have been given a stake in the site’s future use by trust manager Becton Investment.
Having recently taken on the role of president of the Property Council, Luke Saraceni has clear plans for what he wants to achieve for the industry during his tenure.
Renewed interest in the Perth office market among interstate investors was further confirmed last week with sales of CBD office assets worth nearly $200 million.
Perth-based Kebbel Investment Bank has kept a remarkably low profile in the four years since its inception, raising more than $700 million and having been involved in property projects totalling between $2 billion and $3 billion.
An agreement signed between the State Government and the Rubibi community in October last year has allowed for the residential development of 33 hectares of prime land near Cable
The outcome of Native Title negotiations in coming months will be critical for the property sector in Broome amid mounting development and cost pressures.
With more than $100 million of tourist developments and upgrades scheduled, a substantial increase in direct flights from several airlines and tourism operators anticipating a record year, things are looking good for Broome’s tourism sector.
Western Australia’s relatively immature real estate market, and its more efficient contracting system, were two convincing reasons to keep the current sales system, according to Real Estate Institute of Western Australia (REIWA) president Greg Rossen.
