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State Government Approves Laws Allowing Perth Sunday Trading

perth across swan river

AFTER some 25 years, the Western Australian state liberal government has approved laws allowing Sunday trading in Perth.

In a move expected to result in a wave of major new retail developments and refurbishments, Premier Colin Barnett, and the opposition, supported the legislation which replaces ad hoc rules that allowed only certain retailers to open.

Sunday trading was the subject of a failed referendum in 2005.

Melbourne-based Myer has been one of the first retailers to praise the move, adding the group would now “move more quickly to refurbish and expand operations in Perth”. The company has refurbished just one of its six Perth stores since 2006 but undertaking numerous major renovations of its east coast outlets since that time.

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ATO Moves to Sell Distinctive Unfinished Perth Mansion

pankjak oswal mansion

THE distinctive half-built Perth mansion dubbed by locals as the ‘Taj on Swan’ is a step closer to being sold after the Australian Taxation Office moved proceedings in the Federal Court.

The half built home (pictured above at various stages of construction) on the corner of Bay View Terrace and Keane Street in Peppermint Grove is expected to fetch between $15 million and $18 million, according to sources.

It’s been reported the domed structure was costing $70 million to construct, and upon completion would be one of the most expensive properties in Australia.
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Hilton to Build 8-Level, Upmarket Hotel in the Pilbara

pilbara aerial map

RESIDENTS won’t have to put up with “sub-standard” accommodation around the Pilbara, in Western Australia, with the international Hilton Hotel announcing plans for a $65 million upmarket hotel in central Karratha.

The first Double Tree by Hilton Hotel will include 144 suites, 20 own-your-own apartments, bar, restaurant, fitness centre, pool and car parking.

The proposed eight level building (artist impression, below), in Karratha’s central commercial area will also include three function rooms.

“Today’s announcement is yet another example about how, not the government but the private sector, is embracing the opportunities of the Pilbara,” said minister for regional development and lands, Brendon Grylls.
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Rottnest Island Resort Fails to Sell Again

rottnest island

PLANS to lease and redevelop the struggling Rottnest Island resort in Perth have fallen over for the second time in three years.

This month, businesswoman Marilynne Paspaley said stalled negotiations over agreements were the reason her company, Pinctada Hotels and Resorts is pulling out of a venture to control the asset.
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Lend Lease Buys Northgate Shopping Centre, Geraldton

geraldton island

LEND Lease Retail Partners 3 Fund has paid $46.5 million for the Northgate Shopping Centre in Geraldton, Western Australia. Supermarket giant Coles, and variety store Target anchor the large centre which also includes 36 specialty shops. The closed ended fund now has five assets in its portfolio,worth a total of ... Read More »

Half Share of Perth’s QV1 Tower Selling For More Than $300 Million

qv1 perth

AUSTRALIAN Reward Investment Alliance is reportedly in due diligence to buy a half share of Perth’s QV1 Tower for more than $300 million.

The $20 billion fund is believed to be buying the asset with the assistance of Eureka Funds Management. It is being offloaded by the Dexus Property Group, which holds the asset on behalf of superannuation fund STC.

The second half of the building is owned by Investa Property Group.
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Alan Bond’s Former Dalkeith Mansion Sells for $39 Million, Perth

alan bond former dalkeith home

The former home of controversial Perth businessman Alan Bond has sold for $39 million.

The Dalkeith property (pictured, far right) is the second most expensive home sale to take place in Perth recently. In 2009, mineral resources director Chris Ellison paid $57 million for the Mosman Park home of mining heiress Angela Bennett.

Mr Ellison’s colleague, Steve Wyatt, founding shareholder in mining services company Mineral Resources, is the buyer of Mr Bond’s former home. It was offloaded by former goldminer Barry Patterson, according to the AFR.
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Leighton Holdings May Anchor 28,000 Sqm Perth CBD Office Building

workzone

PROPERTY fund manager Charter Hall Group is reported to have snared construction giant Leighton Holdings as a tenant for a major Perth CBD office project.

Leighton is said to be considering a 28,000 square metre campus style office, part of Charter Hall’s new Workzone development at 202 Pier Street, on the Perth CBD’s northern tip (image of a building within the project, right)

The site, held by the Charter Hall Opportunity Fund No 5 (CHOF5), is due for completion in 2013, subject to pre-commitments.
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Developer Brookfield Applies to Build Second Office Tower, City Square, Perth

city square perth

DEVELOPER Brookfield will push ahead with a second office tower on the site of its City Square project, in Perth.

Brookfield’s proposal is for a 16-level, 30,000 square metre tower which will stand alongside a 45-level tower under construction, and leased to BHP Billiton (artist impression of this tower, right).

Perth’s CBD office vacancy rate is a low 6.6 per cent.

Brookfield Office Properties Australia chief executive Brian Kingston said construction could start by October.
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Development Site Near Perth International Airport Sells For $20 Million

perth airport

A 12.1 hectare parcel of land near Perth Airport sold to a private owner for $20 million.

The leasehold land, which has 90 years left to run on a lease, is owned by the Westralia Airport Corporation – the private company that operates Perth’s international and domestic airports.

A private owner reported to be Michael Hodgson has purchased the site, but this could not be confirmed by the AFR which reported the deal. Mr Hodgson is the director of several property companies. He also owns Perth’s Botanica Bar, in Innaloo.
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