News Articles for JLL

Optimism is emerging in Perth's office market, but that doesn't mean landlords' challenges are over.

Hawaiian has sold Subiaco retail and office complex The Colonnade for $37.85 million, in a deal brokered jointly by JLL and Ray White Commercial.

Central Park management has confirmed plans to refurbish the office tower's lobby and forecourt, and has said the integrity of Brian McKay's artworks will be maintained.

Investors are likely to sharpen their focus on Western Australian retail assets throughout the next 12 months, with retail turnover growing faster in WA than in any other state.

There were 666 apartment approvals in inner Perth for the 12 months to February, a sharp fall from 2,069 in the prior corresponding period, which could driven by high supply in a weak market, according to a new report.

The Plunkett family is seeking to sell a major landholding just south of the coastal town of Guilderton, after updating development approvals to address issues that adversely affected an earlier sales campaign.

Western Australian apartment investors are overwhelmingly confident of capital growth over the medium to long term, according to fresh research.

Perth's residential market will be challenging in the short term, but fresh research shows the city is ripe for investment as the Western Australian economy continues to improve, new housing supply continues to slow, and dwellings remain affordable compared to other markets.

Lendlease's Australian Prime Property Fund Industrial has added a second Western Australian property to its portfolio, investing $4.1 million in an industrial property in Gnangara's Northlink Industrial Park.

Small to medium enterprises have joined the unrelenting migration of firms moving from the suburbs to Perth's CBD, with affordability in the central city office market described as unprecedented.

Perth's property sector appears poised for gradual recovery after one of its most challenging downturns in recent history.

Primewest has added seven-storey CBD office building ENI House to its portfolio for $86 million, amid fierce competition from local and overseas investors.

Insurance giant HBF has placed its headquarters at Kings Square on the market, appointing JLL to handle the sale of the asset in an improving Perth CBD office market.

Perth's office vacancy rate has fallen to its lowest level since 2015, with increasing momentum in commercial leasing reflecting brighter sentiment across Western Australia's business sector.

Malaysian property investment group YTL Corporation has added to its Perth portfolio, with one of its subsidiaries acquiring The Westin Perth from BGC Australia in a deal understood to be worth around $200 million.

Commercial property agency Sheffield Property Group has established an asset management division in anticipation of increased transactional activity in Perth's office market in 2019.

Serviced offices and co-working spaces are becoming an increasingly important part of commercial landlords' property portfolios.

Australian institutional investors and offshore property powerhouses sharpened their focus on potential upside in Perth's office market in 2018, as the total value of transactions approached $1 billion.

Singapore's GIC Real Estate has made its second major Perth commercial property purchase, acquiring A-grade office building Exchange Tower from joint owners Primewest and AMP Capital for $326 million.

A Beeliar subdivision has attracted investment from one of the state's best-known names in home building.

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

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.

SPECIAL REPORT: New retail property developments are driving offerings that capitalise on lifestyle needs, but five of the biggest projects are yet to push the button.

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.

Listed investor Growthpoint Properties Australia has struck a deal to buy a Wellington Street office building, the latest deal off the back of a healthy sales pipeline for Perth's commercial office market.

Demand for office space in West Perth has fluctuated widely with commodity prices and the mining sector's fortunes but the suburb is now attracting interest from diverse industry sectors.

BGC Australia has kicked off its asset sale program with the listing of the recently completed Westin Perth and Aloft Perth hotels, along with an adjoining commercial office building in Rivervale, a CBD development site and a neighbouring food and beverage precinct.

A 1.7-hectare site combining 12 land holdings near Canning Bridge in Applecross has come onto the market, representing one of the most significant masterplan development opportunities in Perth.

Singaporean-listed OKP Holdings has made its first foray into Australia, via the purchase of an East Perth property for $43.5 million from BGC directors Andrew and Sam Buckeridge.

Confidence is building among the state's industrial property players, despite persistent market challenges.

Speculative fit-outs have emerged as a drawcard for boosting leasing activity in the CBD.

JLL Office Leasing has expanded its team, appointing Emily Dyer leasing executive.

Professional services firm JLL has brokered the sale of two Forrestfield industrial land holdings for a total of $9.4 million.

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.

ASX-listed property investment group Centuria has made its way west, acquiring two office buildings on the outskirts of Perth's CBD for $91.8 million.

The potential to create iconic developments at Elizabeth Quay may be proving a lure too attractive to resist for Malaysian developer Victor Goh.

A Singaporean investment group has taken a long-term view on Perth's hotels sector, shrugging off plunging room rates and a massive wave of new developments to purchase the Crowne Plaza Perth for $50 million.

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.