Receivers to Sell Luke Saraceni Perth Site

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.

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Brookfield Multiplex Pays Aspen $25.3 Million for Perth Development Site

WESTERN Australian based developer and fund manager Brookfield Multiplex has paid $25.3 million for a commercial development site in the City Square development site.

Brookfield is expected to build a 14-level office on the site, which was also reportedly competed for by the Charter Hall Group.

Aspen Group also reportedly conducted due diligence on the site.

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Government Reaps $18 Million From Major Hazelmere Department of Defence Site

CEDAR Woods has paid $18 million for a 273-hectare development site, offloaded by the Department of Defence. The former Bushmead Rifle Range at Hazelmere is expected to be redeveloped into a housing estate with up to 900 residential lots. Cedar Woods is a listed company. The Hazelmere acquisition was made by a subsidiary Dunland Property,

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East Victoria Park Apartment Development Site, Perth, Sells For $9.3 Million

A RESIDENTIAL development site in East Victoria Park, in Perth’s inner south-east, has sold for $9.3 million. Perth developer Finbar, and development partner Wembley Lakes Estates, have purchased the 1.5 hectare site with a street address of 6 – 14 Welshpool Road, and 185 – 189 Swansea Street. The AFR reports the 6,200 square metre

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