An unnamed Chinese private investor has purchased a Coles supermarket in the state's South West for $19.6 million, part of a $50 million asset sell-off by the retail chain.
A 4,497 square metre multi-lot site in Scarborough has been placed on the market, raising the possibility for further high density residential development in the suburb.
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.
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.
Singaporean group Chip Eng Seng Corporation has struck a deal to sell the White Sands Tavern development site near Scarborough beach for $24.5 million.
The worst may be over for Perth's office market, with the latest statistics pointing to another fall in vacancies, dropping slightly from 19.8 per cent to 19.4 per cent in the six months to July, according to the Property Council of Australia's mid-year office market report released today.
Private real estate and investment firm Warrington Property has completed its $50 million redevelopment of the William Square office building in Northbridge, and has appointed agents to lease the remaining vacant space.
A prime site in Northbridge, located on William Street opposite Yagan Square and Perth City Link and earmarked for a multi-tower mixed-use development, has been listed for sale.
A Singaporean investment manager has bought the Sunmoon Boutique Resort in Scarborough for $8.3 million, with plans to transform the property into one of Australia's first build-to-rent projects.
Several property developments are taking shape at the heart of the City of Canning, with its $70 million regeneration program set to start works next month.
Early signs of recovery are starting to emerge across Perth's CBD office market, with vacancy rates falling below 20 per cent for the first time in two years, according to the Property Council of Australia.
A Welshpool industrial and commercial property, comprising more than 19,000 square metres of warehouse and office tenancies, has been brought to market by joint agents LJ Hooker Commercial Perth and CBRE.
The local chapter of the National Association of Women in Construction has recognised the achievements of Western Australian women at its annual awards, held at the Perth Convention and Exhibition Centre this morning.
AMP Capital has secured 17 commercial tenancies in the past 12 months as work continues on the revamp of its 30-storey building on 140 St Georges Terrace.
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.
Perth's ailing office market could be on the mend, with the CBD recording the largest drop in vacancies of any capital city during the past six months, according to the Property Council of Australia.
Singaporean-owned property management company CEL Australia has confirmed its first move into Australia's hotel market, announcing the purchase of The Sebel Mandurah for $15 million.
A growing chorus of major voices in Perth's commercial property sector is suggesting the worst of the recent period of sluggish activity may be over, with consistent demand for space and renewed investor interest indicating the marketplace is on the improve.
More than 40,000 square metres of space in suburban office buildings have been vacated during the past 12 months, a result driven more by companies downsizing rather than growth in the number of firms moving to the CBD.
MSP Engineering has established a new headquarters in West Perth to cater for a bigger workforce as it builds a $400 million lithium processing plant in Kwinana.
Office landlord Hawaiian's refurbishment program at London House has paid dividends, with three new tenants taking space in the 18-level St Georges Terrace building in the past three weeks.
Office vacancies in Perth's CBD have peaked, according to some in the commercial property sector, with markets expected to stabilise as construction of new offices slows.
Commercial landlords in West Perth are coming under increasing pressure to retain tenants, as the near-city suburb's office vacancy rate hits all-time highs.
Talk of hotel oversupply in Perth has been exaggerated, with new higher quality projects to be a welcome alternative to older and potentially obsolete hotels in the city, an industry analyst says.
Interest in commercial property in Perth's CBD is on the rise, with interstate institutional groups and syndicators eyeing Perth as an alternative to crowded and competitive eastern states markets.
Perth's tourism sector is expected to receive a boost from the Ritz-Carlton & The Towers proposal at Elizabeth Quay, with national construction contractor Probuild confirming it has been appointed to undertake the project.
Aigle Royal Developments has added a southern suburbs landholding to its portfolio, purchasing a 15.1-hectare tract of land in Baldivis for $10.3 million.
Fierce competition among prospective buyers for a Bunnings Warehouse property in Joondalup has again illustrated the attractiveness of retail assets for property investors.
