News Articles for Primewest

SPECIAL REPORT: Discussion about a sale of Western Power is taking place against a backdrop of rapid technological change in the sector, as networks brace for an onslaught of competition from battery storage.

Moving state government departments out of Perth's central business district into regional and urban centres will have social benefits, according to Environment Minister Albert Jacob, as the government announced today the shift of 800 staff to a Primewest development in Joondalup.

Tenants willing to shift from the suburbs to the city are emerging as rare winners in Perth's patchy commercial property market.

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.

Property syndicator Primewest has added to its retail portfolio, buying a homemaker centre in Brisbane for $34.75 million.

A long-running campaign to sell a 50 per cent stake in Exchange Tower is coming to a close, with property syndicator Primewest to pay $113.5 million for half of the CBD skyscraper.

Landlords in West Perth are moving to upgrade their buildings in the wake of increased vacancy, as tenants demand higher-quality amenities in a competitive market.

Recent sales in Perth's commercial property market show appetite remains for well-located assets with strong leasing profiles, but activity levels are still well down historically as the shadow of rising vacancies looms large over the city.

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.