News Articles for JLL

Private investment group Tribar Capital has bought a fully-leased West Perth office building for $5.35 million.

Property giant JLL has promoted Angelo Amara to WA managing director, as the current boss John Williams shifts his focus to JLL's capital markets business.

The pandemic and uptick in e-commerce is continuing to drive the hype around industrial assets.

APIL Group has sold its multi-tenanted industrial estate in Welshpool for $23.3 million, having confirmed its purchase of a neighbourhood centre last week.

Perth-based property syndicator APIL Group has added another retail asset to its portfolio with the purchase of Coolbellup Village Shopping Centre.

Real Asset Management has purchased two health centres for circa $17.5 million, adding to $150 million worth of medical properties transacted across Perth and Peel over the past 12 months.

Australia's apartment markets continue to lag in the country's broader housing market recovery, reports have found, however momentum is building in Perth.

Industrial and logistics properties continue to top investors' wish lists, as vacancy within Perth's industrial property drops by almost a third within 12 months.

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.

Property leaders shed some light on the residential and commercial markets' performance during 2020 and what they expect for the year ahead.

While not the most glamorous assets in the commercial property sector, bulk warehouses, workstations, logistics centres and sheds have proved their worth in 2020.

Andrew Forrest's commercial property arm has purchased 190 St Georges Terrace, a 12-storey office building, for an undisclosed sum.

Limited new supply, high yields and a rebounding resources sector are elevating the appeal of Perth's office assets.

Although the pandemic has emphasised business can be done from anywhere, commercial property players are banking on the value of four walls.

Mair Property Funds has purchased an industrial property in Canning Vale for $12.4 million, the group's first acquisition under its new investment fund.

As of today, Western Australians can return their eligible beverage containers in exchange for cash at 200 refund locations across the state.

Mineral Resources will pay $60.5 million for its new headquarters at Walters Drive, Herdsman.

LJ Hooker Commercial WA has not let COVID put a dent in its sales and leasing pipeline, conducting more than $40 million worth of deals during the past quarter.

ProProperty Group has secured three deals out of the one property – signing a retail lease, selling the asset and securing management of the property.

The national average shopping centre vacancy rate reached 5.1 per cent in June, up from 3.8 per cent in December, according to the latest figures from JLL.

Perth CBD office vacancies increased during the second quarter of 2020 according to JLL, however the state is tipped to fare better than the east coast in the coming months.

A former supermarket site in Subiaco has sold for $15.5 million to a private investor.

Western Australia's property developers hope the physical isolation that has helped mitigate the worst of COVID-19 in this state will also insulate the local apartment market from a contagion of a different kind.

Stringent cleaning measures and discounted parking are among the initiatives rolled out to lure workers back to the CBD.

The recent panic buying of essential goods and increase in delivery services could have a lasting impact on Perth's industrial property sector.

Australia Post has leased 11,000 square meters across two industrial properties in Perth off the back of increased demand for essential goods, with the deals brokered by JLL.

Pilbara Ports Authority is shifting its Perth office from West Perth to the CBD, continuing the tenant exodus from the near-city suburb as it moves its premises to a full floor at 999 Hay Street.

Perth's residential property market is proving resilient in the early stages of the novel coronavirus crisis, but agents are bracing for leasing and home sale transactions to grind to a halt in coming weeks.

SPECIAL REPORT: Resources-related investment is helping Perth's industrial land sector bounce back from a five-year downturn in investment.

Professional services and flexible office providers have provided a boost to momentum in Perth's CBD office market, with the Property Council of Australia's vacancy rate continuing to decline and top-quality office accommodation becoming scarce.

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.

Perth's office market is continuing its recovery, with vacancies falling for the fifth consecutive quarter and the city recording the second-highest office takeup of any Australian city in 2019.

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.

Landlords and office tenants are continuing to set new standards for office accommodation, with an interior design-driven focus on amenity, comfort and flexible working arrangements increasingly becoming the norm across the city.

Subiaco's apartments market is running hot, with Blackburne racking up rapid sales success at its $280 million One Subiaco development and boutique developer Celtic Properties launching an 82-dwelling development on Roydhouse Street.

SPECIAL REPORT: Commercial developers are continuing to prepare for more favourable conditions in Perth's office market.

Blackburne has added to its upcoming project pipeline in Perth's blue-chip suburbs, after acquiring a prominent site on Stirling Highway from aged care provider Amana Living.

The proprietors of the Rose Hotel in Bunbury and the Exchange Hotel in Kalgoorlie have purchased the iconic Subiaco Hotel.

A new student accommodation proposal has emerged on Wellington Street, on a development site owned by a syndicate of investors including former Adelaide Crows coach and West Coast Eagles footballer Don Pyke.

SPECIAL REPORT: Landlords unwilling to budge on rents have been blamed for exacerbating Perth's retail downturn, but leading leasing agents say the sector's problems are substantially more complicated than the cost of tenancies.