More details have emerged about the legal battle between Cygnet West and franchisor-turned-rival Colliers, with confirmation the action was prompted by the sale of the Baileys Motel.
Cygnet West has mounted a lawsuit against its former investment services manager in a bid to retrieve confidential information it claims is now being used at franchisor-turned-rival Colliers.
Colliers International WA could be known as Cygnet West from next year, as the real estate giant prepares to launch its own operation after two decades of multinational ownership.
The local Colliers International office will sever its ties with the multinational, as its franchise agreement comes to an end and a company-owned Perth operation is set to launch.
Demand for industrial and logistics properties has increased over the past six months, with the vacancy rate falling to a historic low of 2.24 per cent, according to CBRE.
Australia's apartment markets continue to lag in the country's broader housing market recovery, reports have found, however momentum is building in Perth.
Perth may have the highest office building vacancy rate nationally, but that's done little to dampen the confidence of investors, developers and real estate agents.
South Australian-based DiMauro Group has appointed Colliers International to manage the Armadale Shopping City, following the settlement of the group's acquisition this week.
Developers are pushing ahead with plans for new projects, hoping recent government initiatives aimed at stimulating the sector will help cushion any further COVID and economic blows.
As shops across WA begin to reopen as social distancing restrictions ease, retail property owners are starting to reflect on the health of their assets.
Developer and syndicator Lester Group has splashed $58 million on large-format retail precinct Midland Megaplex, while Fortescue Metals Group has expanded its warehouse and office footprint in the eastern suburbs.
The state government is expecting keen competition from developers for a pair of prime development sites in Fremantle and Scarborough released to market this week.
Perth's embattled CBD retail market is undergoing a bottom-up revival, with strong enquiry from prospective food-and-beverage operators despite a number high-profile chain stores closing their doors.
ASX-listed funds manager Primewest has acquired a Woolworths-anchored shopping centre in Mandurah for $32 million, following its $33.1 million acquisition of 66 Kings Park Road.
An industrial infill precinct in Welshpool with a chequered history is attracting interest from occupiers, with four-wheel drive accessory manufacturer ARB Corporation and United Fasteners moving in late last year, and a leasing campaign launched for a new-build office and warehouse at the same site.
Neighbourhood shopping centres and supermarkets are drawing significant investor interest, with more than $140 million worth of transactions occurring in 2019.
Perth's office market has emerged as the hottest leasing market in the country, with falling vacancies putting upwards pressure on rents in top-grade office stock.
Fresh supermarket proposals are emerging across a range of near-city suburbs, including Highgate, West Perth, Nedlands, Inglewood and Como, as retail groups respond to community demand for modern shopping facilities.
Vikas Rambal's Perdaman Industries has continued its march on retail property, adding a third shopping centre to its portfolio through the $20 million acquisition of The Village at Margs.
