Coles Property Developments has sold a former supermarket and car park earmarked in planning documents to make way for a landmark project. The $15.5 million price paid for 277 Barker Road, Subiaco, represents “a significant uplift on book value”, according to JLL marketing agents Sean Flynn and Nigel Freshwater. Following the close of an expressions

Marriott International has signed a hotel management agreement with joint venture development partners Saracen Properties and Security Capital Australia for a five star resort on the southern headland of Gnarabup Beach. Westin Margaret River Resort and Spa, as it will be branded when it opens in 2023, will contain 120 rooms, three restaurants and 400

The deserted Midway Taxi rank in Perth’s north west Mount Hawthorn has sold to a local developer. At 387 Oxford Road, the 2914 square metre site attracted half a dozen offers following a six week private sale campaign. Burgess Rawson’s Chris Tonich and Luke Randazzo represented Midway Taxi Management which has owned the property since

A Victorian investor has spent $6.3 million on a retail asset in coastal Halls Head, near Mandurah. CBRE Retail Investments agents Anthony Del Borrello and Richard Cash said their deal is the first for a Western Australian shopping centre to settle post COVID-19. On the south east corner of Peelwood and Glencoe parades, also with

Seven West Media is selling its Perth headquarters to a special purpose Primewest trust following a $75 million off-market deal. The Osborne Park facility occupied by West Australian Newspapers and TVW7 is trading with a 15 year leaseback. Based on the vendor’s starting net annual rent ($4.3m), Primewest Media Trust is buying it on a

Australia Post has rented a 6500 square metre portion of Charter Hall’s Kewdale Distribution Centre in south east Perth. The occupier needed the space to handle increased freight movement coming as a consequence of the current economic environment, according to JLL’s Andrew Fife, who is marketing the property with colleague Nick Goodridge. It is the

Nigel Satterley and other investors in a Satterley Property Group syndicate have sold the Austin Lakes Estate in South Yunderup, for $19.7 million. The price falls far short of the $33m guide attached to the 630 hectare parcel when it hit the market in 2018. At the time, the vendors wanted to invest proceeds into

Fortescue Metals Group has leased a modern office warehouse near Perth Airport. The Western Australia based iron ore producer has committed to the 1670 square metre facility, 9 Longfellow Court, Belmont, for five years. The address is off Abernethy Road, six kilometres west of Perth Airport and industrial precincts at Kewdale and Welshpool. Belmont is

A north Perth office predominantly leased to Centrelink has traded for $8.9 million. Colliers International’s Wayne Lawrence and Tory Packer sold 24 Chesterfield Road, Mirrabooka, off-market. Across a floor, the 3696 square metre building is eight per cent vacant. The government is on a six year rental agreement for its portion while the weighted average

A modern showroom in Perth’s north west Osborne Park sold for $11.75 million following a private treaty campaign launched last year. The c6862 square metre mixed retail and industrial investment at 21 King Edward Road spreads over 1.06 hectares of Development zoned land, configured with 78 car parks. Based on the fully-let annual return ($803,781

Engineering firm Aerison will consolidate from two West Perth offices to another after signing a 1650 square metre lease deal. The 52 year old business currently operates at Kings Park Road and Altona Street. It is headed to a five-storey, A-grade 3700 square metre commercial building at 56 Ord Street completed by Iris Residential in

Six months after Harmony Agriculture and Food went into liquidation, 900 hectare beef cattle feedlot WestBeef has been listed by receiver National Australia Bank. At 46 Watson Road, Burakin, near Lake Moore, about 250 kilometres north east of Perth, the livestock logistics asset is registered to fatten 7500 cattle units headed for abattoirs. Colliers International’s

Charter Hall Retail REIT has sold a shopping centre in the Western Australia top end town of Carnavon. The $16.1 million off-market deal for Carnavon Central is to an Adelaide based syndicate. At 35-55 Robinson Street, at the south west corner of Olivia Terrace and also with frontage to Alexandra Street, the neighbourhood complex is

Dorado Property has paid $24.25 million for a modern office at the northern tip of the Perth CBD. The four-storey 4637 square metre commercial building at 12 Newcastle Street, on the north west corner of Lord Street, sits above the westbound entrance to the Graham Farmer Freeway Tunnel, between Royal Perth Hospital and Claisebrook train

An institutional grade industrial investment in Perth’s south has sold for $20 million. The state of the art complex on an 8.4 hectare island site at 150 Quill Road, Henderson, was developed by Matrix Composites and Engineering to occupy, 10 years ago. Matrix offered the holding with a 20-year leaseback. Part of one of the

A Perth fund manager has spent $7 million on an industrial investment in that city’s north. The Malaga site at 380 Victoria Road is trading on an 8.57 per cent passing yield. Covering 1.51 hectares, the holding includes two fully leased buildings containing 8435 square metres of lettable area. The weighted average lease expiry (WALE)