Woolworths has sold a retail complex in Perth’s outer northern suburb of Aveley for $27 million to a private investor.Read more
Vicinity Centres has sold 11 shopping centres spread across Victoria, New South Wales, Queensland and Western Australia, for a totalRead more
Hawaiian and Queensland Investment Corporation have paid $4 million for a historic building next door to their Claremont Quarter shoppingRead more
A Singaporean investor has made their first foray into the Perth commercial property market, paying $33 million for an officeRead more
A Malaysian investor is buying a double-storey, mixed-use asset with redevelopment potential in Perth’s ritzy south-west. Following an off-market deal,Read more
The Perth property which until recently accommodated an incomplete, distinctive mansion which became dubbed around the world as the TajRead more
LEND Lease Retail Partners 3 Fund has paid $46.5 million for the Northgate Shopping Centre in Geraldton, Western Australia. SupermarketRead more
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.Read more
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.Read more
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.Read more
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.Read more
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.Read more
MINING giant BHP Billiton looks unlikely to relocate its headquarters to Perth any time soon, according to news reports.
In 2008 Perth mayor Lisa Scaffidi labelled a new building BHP was occupying at City Square as “BHP’s new national headquarters” raising speculation the giant will leave its long-time home in Melbourne.
The mayor told a council meeting BHP’s Melbourne operations would be “significantly downgraded” in what was “a major boon” for Perth.Read more
A DEVELOPMENT site overlooking the West Australian government’s Northbridge Link project in Perth is to be sold by the heirs to a mining fortune.
Angela Bennett and Michael Wright, the children of the late Peter Wright who discovered many of Western Australia’s iron ore deposits with business partner Lang Hancock, are selling the 1383 square metre site, currently leased to Wilson Parking.Read more
PERTH-based property developer Luke Saracini is looking for new financial backer to help get a 900-unit mixed use redevelopment in the Busselton area moving.
The Vasse Newtown project (aerial, right) has been largely on hold, because Mr Saraceni told the AFR, he “couldn’t agree on a price” with another local investor the Perron Group.
Mr Saraceni owns 49 per cent of the project while a syndicate of largely wealthy West Australian families owns the balance.Read more
THE sleepy Western Australia coastal town of Geraldton is about to undergo a population explosion – and maybe an apartment development boom – on the back of major mining projects including the $5 billion Oakajee Port venture.
However it may face a housing shortage within three months because of a fear by developers to adopt a large-scale development in the area, 240 kilometres north of Perth. Earthwork restrictions limiting the clearing of blocks to within six months (March to September) is also turning prospective developers off.Read more
WESTERN Australia’s residential building boom seeks to be choking on itself.
According to builder Alcock-Brown Neaves Group, the state is being plagued by rising staff and material costs, falling migration and tax uncertainty, as well as red tape burdens and delays.
He said the state’s housing market risks suffering “death by a thousand cuts” unless it becomes proactive, and acts.Read more
THE Australian arm of the Canadian private equity company Brookfields plans to build an office building in Perth, abutting another development it already owns – in effect creating a twin-tower complex.
Upon completion, the twin-office development’s end value is forecast will be more than $1 billion.
Brookfield told The Australian it was also considering redeveloping other sites it owns – the Bishop See North asset, also in the Perth CBD, and another office tower proposal in Melbourne.
It paid West Australian property investor Ric Stowe $25.3 million for the site adjoining City Square, and is reportedly planning a 15-level, 30,000 square metre office, which will be integrated into the neighbouring complex.
CORONADA Investments has paid $4.8 million for a 2.23 hectare residential development site in Perth’s Alexander Heights. The Perth-based companyRead more
RECEIVERS are about to seize control of a sixth site controlled by embattled property developer Luke Saraceni (right).
The seizure, for a hotel site at 18 The Esplanade, in Perth, comes as Saraceni prepares to test in court whether his $500 million Raine Square office tower project can be completed.
Financiers have also seized control of an office tower at 251 St Georges Terrace, in Perth, owned by Saraceni’s business partner, developer Hossean Pourzand. The Bank of Scotland and Bankwest called in the receivers, according to reports.Read more