Retail property landlord BWP Trust has increased rents on three of its Bunnings Warehouse properties, including significant jumps for two in Western Australia, highlighting the strength of Perth’s industrial land sector.
Perth’s newest skyscraper has reached practical completion, with interior fitouts at Brookfield Place to be completed over the coming months, ahead of an official opening in September.
Industry has given a lukewarm response to the state budget, with the property sector disappointed, tourism still looking for boosts for struggling regions, while miners were concerned over a lack of certainty regarding royalties.
Shopping centre owner Perron Group has added to its bulging portfolio, snapping up 50 per cent stakes in Morley Galleria, The Glen in Melbourne and Colonnades in Adelaide from Centro Retail Australia for $690.4 million.
Property fund manager Charter Hall announced today that it has moved to full ownership of 225 St Georges Tce, after buying out co-owner The Wyllie Group for $96 million.
Perth’s industrial land sector is starting to show similar traits to the CBD office market, with sales data over the first four months of 2012 showing a clear contraction in supply.
THE number of loans approved for established dwellings has reached its highest level since 2009, while increased financing for new homes could be a sign of things to come in residential construction.
Cripplingly high house prices, a bulging waiting list, evolving community needs and changes in public policy have been the driving forces behind a number of social housing projects in inner-city Perth that are finally getting off the ground in 2012 after years of work from community organisations
Perth has emerged as the hottest capital city location for property investment, with four metropolitan suburbs topping a list of the most affordable inner-city suburbs across the country.
Perth’s City Square has become just the second property worldwide to bear the name of Canadian investment fund Brookfield, after it was rebranded Brookfield Place Perth.
Mining and civil contractor Brierty’s joint venture with Ngarluma Yindjibarndi Foundation has won a $55 million contract to develop land for housing for Rio Tinto at Wickham, in the Pilbara.
The success of a $200 million class action case against the property group Centro Retail Australia is a win for all Australian investors, lawyers for the shareholders say.
PERTH is poised to smash a 20-year record, with the most new office space across the city coming online this year thanks in part to the pending completion of the troubled Raine Square development and the landmark City Square building.
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