Dan Wilkie rejoins the Business News editorial team as Associate Editor, after having launched Australia China Business Review as founding editor-in-chief. While specialising in commercial and residential property writing, Dan also writes across industries and assists editor Mark Beyer in planning and producing Business News' daily emails, fortnightly magazine and website publishing. Dan is a graduate of Curtin University.
ASX-listed GDI Property has reported mixed leasing success at its Westralia Square office building, with the state government reducing its commitments in the CBD tower to around 14,000 square metres, down from more than 25,000sqm previously.
Diversified construction giant BGC Australia is consolidating its homebuilding divisions, with BGC Residential and J-Corp’s eleven housing and development brands to be based at a new sprawling headquarters in Osborne Park.
Western Australia’s housing sector has been rated as the least healthy in the nation, however, the Housing Industry Association's twice-yearly Housing Scorecard is starting to indicate the market may be turning.
Construction has started this week on two apartment projects with a collective end value of $126 million, with Norup + Wilson launching its Beach Shack in Scarborough and Baltinas starting to build its Habitat Residences in Applecross.
Prominent building identity Craig Gemmill has called time on 15 years at his namesake company, selling his stake to co-founder John Wilson, but the Gemmill Homes brand will remain active in Western Australian homebuilding.
Axiom Properties has launched its first Western Australian project since it exited the Port Geographe canals subdivision near Busselton in 2011, acquiring a three-hectare retail site in Butler for $9.6 million.
Western Australia’s building downturn and increased take-up of smaller dwellings is providing impetus for the adoption of alternative construction techniques, with builders seeking to pass cost and time savings on to homebuyers as they battle to maintain market share.
The state’s land developers are rolling out stock at a much higher capacity than needed, with the excess product hitting the market resulting in median land prices falling to around $5,000 under fair value.
UPDATED: Residential construction outfit Builton Group is closing its doors, after staff were told not to come to work on Monday, while an announcement that the company has been placed into administration expected later today or over the weekend.
Prominent land developer Nigel Satterley has predicted more pain to emerge from Perth’s apartments market, forecasting widespread price falls and more projects to fail as pressure builds on developers.
Perth Airport is paving the way for Western Australia to have a tourism attraction of global significance, setting aside land to facilitate the development of the $510 million Australian Biome Project.