Shopping centre giant Vicinity Centres has felt the full force of WA's weak retail climate, after it recorded a $227 million write-down, largely due to the performance of its WA portfolio, which had $191 million wiped off its value.
Global fashion retailer H&M is opening its second north-of-the-river store, taking a key tenancy at the revamped Karrinyup Shopping Centre, which is undergoing an $800 million refurbishment.
Subdued retail conditions in WA have resulted in more than $2.5 billion of shopping centre expansions to be deferred or have no timetable for development.
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 growing spectre of online shopping has not deterred one of the country's largest retailers from investing in its bricks-and-mortar assets, with David Jones opening its fifth Western Australian store today as part of the final chapter of Mandurah Forum's $350 million redevelopment.
Georgiou Group has started preliminary construction work on a new $150 million direct factory outlet near Perth Airport, which will include 120 specialty stores.
Scentre Group is gearing up to unveil its next-generation dining and entertainment precinct at Westfield Whitford City, one of several planned upgrades to its shopping centres across Perth.
Building will start next year on a $600 million redevelopment of Karrinyup Shopping Centre, with construction giant Brookfield Multiplex adding the big ticket job to its portfolio of works.
Brookfield Multiplex will start work by the middle of the year on a $350 million expansion of Mandurah Forum, with the redevelopment to make the southern suburbs mall the sixth-biggest shopping cen
The recent approval for an estimated $450 million expansion of Westfield Whitford City has added to a long line of shopping centre redevelopments proposed in Perth, although ongoing economic uncertainty is casting doubt on how many will actually go ahead.
While storm clouds gather over office assets and land development comes off the boil, interest in retail property is building as investors look for somewhere secure to park their cash. Click through to see our list of WA's top 10 locally-based shopping centre owners.
The commercial construction sector is emerging as a bright spot amid all the doom and gloom in WA. Click through to see the special report, with details of Perth's biggest construction jobs.
Expansion of Western Australia's retail space is not keeping up with the state's population growth, falling short by around 200,000 square metres, according to a new survey by the Property Council
THE lively start to the year for Perth's property market has continued, with four substantial retail and industrial properties changing hands in the past week in deals worth an estimated $275 milli
