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.
Two student accommodation projects in Northbridge have moved closer to being built, after Devwest Group applied for approval to repurpose Telstra’s headquarters, and Stirling Capital lodged paperwork for early works at its Stirling Street proposal.
Doubt has been cast over a wave of proposed apartment and hotel developments, with a patchy sales market forcing developers to apply for extensions to planning approvals for hundreds of millions of dollars’ worth of projects.
The offshore owners of Hyatt Regency Perth are planning a mammoth redevelopment of the East Perth hotel, with plans lodged for approval for the first stage of a three-tower residential and commercial precinct.
National construction contractor Probuild has added another big-ticket contract to its growing portfolio in Western Australia, having been appointed to build the $200 million NV Apartments development on Murray Street.
Perth median home values rose 1 per cent in March, according to the latest data from CoreLogic, but the Western Australian capital remains Australia’s worst-performing residential property market on an annual basis.
A recent flurry of leasing deals by oil and gas-related firms has provided hope that Perth’s CBD office market has hit the bottom, despite further downsizing expected in the energy sector throughout 2017.
A Singaporean investment group has taken a long-term view on Perth's hotels sector, shrugging off plunging room rates and a massive wave of new developments to purchase the Crowne Plaza Perth for $50 million.
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.