Property

The redevelopment of the former New Esplanade Hotel near Elizabeth Quay is scheduled for completion in the first quarter of 2019, with the new facility set to feature a rooftop bar and co-working spaces.

BGC Australia has agreed to sell the Aloft Perth hotel and associated office development in Rivervale to Singapore-based Hiap Hoe Ltd for $100 million, but is still chasing a buyer for a second, larger hotel it developed, The Westin Perth.

Property industry bodies have congratulated the McGowan government on passing the Strata Titles Amendment Bill 2018 through Parliament, which it says will bring a range of benefits for strata living arrangements through better regulation of strata managers and improved dispute resolution processes.

Construction and engineering contractor Georgiou Group has lifted its annual profit and turnover and tipped a positive outlook, helped by recent contract wins at Perth Airport, in the Pilbara and on the east coast.

The Village, Australind Shopping Centre, and the adjacent Mardo Commercial Centre have been acquired by Acure Asset Management for $39.43 million from private property company the Vukelic Group, representing a yield of 8.3 per cent

Cedar Woods Properties has forecast an increased profit this financial year in a quarterly update released to the ASX.

Two sets of data out today have sent mixed signals about the Perth property market, with Reiwa figures revealing a lift in house prices in October, while Corelogic says they fell for the month.

LandCorp and the Metropolitan Redevelopment Authority have combined to release more than 150 lots of commercial, residential and industrial land across Perth and regional Western Australia, which could generate up to $1.3 billion in development opportunities.

LandCorp has challenged local builders to develop solutions to difficult site conditions and to showcase high-tech, innovative medium-density construction capability through two separate expressions of interest campaigns.

Perth land developers LWP Property Group and PRM Property Group have announced a merger, with the combined group to have four equal shareholders.

The McGowan government is facing renewed pressure to reconsider its proposed foreign investor surcharge, and its removal of the $5,000 first homebuyers boost.

Melbourne-based Delta Group has been awarded two contracts in Western Australia, with a $4.2 million demolition job for the state government and work for CBH Group.

SPECIAL REPORT: Taking a long-term view of WA’s development potential is paying off for Sirona Capital.

SPECIAL REPORT: Commercial property player and Perth’s biggest landlord, Brookfield, is building on its success across the city with big plans and a strategic focus.

SPECIAL REPORT: The greater volume of funding for commercial property is helping drive a push for diversification.

Property developer Nicheliving has hit the restart button on its planned ASX listing, after making several major changes to the business, including announcing plans to appoint a new corporate adviser and auditor.

A fall in Perth house prices over the next 12 months will be followed by modest growth and an overall 5 per cent improvement by 2021, according to a new housing outlook report.

In the latest property deals wrap, Woolworths makes a $27 million sale, while Sirona Capital spin-off Harvis Corp and US private equity firm Black Mountain Metals have leased office space in the Perth CBD.

The Perth office market offers good value to buyers looking to hold for the longer term, according to research from CBRE.

Federal Labor’s proposed changes to negative gearing and capital gains tax would hit Western Australia’s residential building sector at a time it is already reeling, according to economic modelling commissioned by Master Builders Association.

This now-mobile group is a key driver in Perth’s reviving apartments market, making up 65 per cent of buyers.

Mining services entrepreneur Neil Irvine has doubled down on his investment in the hospitality sector to take full control of the $40 million-plus On The Point precinct.

The A-grade office building at 12 Newcastle Street on the north eastern edge of the CBD has been offered for sale through CBRE.

Opinion: The WA government has got the timing and scale wrong with its move to introduce a 7 per cent surcharge on foreign property buyers.

A construction contracting company in Perth has vowed to fight legal action launched by the CFMEU over the alleged underpayment of a young worker on a temporary visa.

The state government has backed an inquiry into short-stay accommodation providers, just days after the Australian Hotels Association called for a tightening of regulation of the sector.

Charter Hall has bought the Optima Centre office park in Osborne Park for $126.2 million and will hold the asset across two of its investment trusts.

Two fresh studies warn vulnerable renters are locked out by structural challenges in the market.

A new Housing Industry Association report has again labelled Perth as the most affordable capital city in Australia, but says WA’s first home buyers grant is not having the desired effect.

The Housing Industry Association has appointed former Chamber of Commerce and Industry of WA director of advocacy Cath Hart as its Western Australian regional director.

BGC Australia has appointed three high profile independent non-executive directors to help advise the family-owned business empire as it enters a global sale process.

In the latest property deals wrap, three sites are on the market, including Aldi in Wattle Grove, 675 Murray Street and a 20-hectare slice of land in the Shire of Serpentine Jarrahdale, while an industrial site in Welshpool recently sold for $2.8 million.