The $270 million redevelopment of Fremantle’s Kings Square is indicative of the experiential emphasis retail property owners are embracing across the city.
Western Australia has bucked the national trend and recorded a 0.6 per cent rise in retail spend for July, underpinned by gains in the hospitality sector, according to the latest data from the Australian Bureau of Statistics.
The company that manages the Galleria Shopping Centre has been fined $45,000 after it was found guilty of failing to ensure safe access and egress for persons who were not its employees, after an explosion at Galleria in 2015 killed two men and left two others with severe burns.
Wesfarmers has more than quadrupled its full-year profit to a record $5.51 billion, on the back of post-tax gains of $3.17 billion on the demerger of Coles and other divestments during the year.
Automotive Holdings Group has suffered a loss of $232.6 million for the 2019 financial year, following major asset write-downs to its automotive and refrigerated logistics businesses during the period.
Sales of new vehicles in Western Australia bucked the national trend and rose by 5 per cent in July, primarily due to the sports utility vehicle (SUV) market segment, marking the first overall increase in monthly sales since May last year.
A rebound in the local retail sector may be on the horizon, after Western Australia recorded the second largest rise in retail spending among states and territories, according the latest Australian Bureau of Statistics data.
Cash Converters International says it expects a loss of between $2 million and $4 million for the 2019 financial year, largely due to a class action settlement in Queensland.
The competition watchdog has accepted AP Eagers' proposed takeover of rival car dealer Automotive Holdings Group, on the condition AP Eagers sells its dealerships in Newcastle and the Hunter Valley region.
Perth’s hospitality woes have continued, after fish and chip chain Sweetlips entered liquidation and Raine Square tenant Tim Ho Wan closed its doors after less than a year.
AP Eagers has offered to sell dealerships in Newcastle and the Hunter Valley region, as it aims to assuage the Australian Competition and Consumer Commission’s issues with its proposed acquisition of rival Automotive Holdings Group.
The Australian Securities and Investments Commission has appointed Morgan Stanley to sell a stake of approximately 12.9 per cent in Yowie Group, which the regulator seized in April.
Fresh supermarket proposals are emerging across a range of near-city suburbs, including Highgate, West Perth, Nedlands, Inglewood and Como, as retail groups respond to community demand for modern shopping facilities.
