Jenelle Carter

Amid one of Western Australia’s hottest real estate markets in almost two decades, and with coastal property a major driver, several short-stay apartment investments are being promoted in the South West.

Hotel developer PH3 Property Group cannot yet confirm what form any potential settlement with Westpoint-linked seed investors in its proposed $18.5 million Barrack Square project will take.

Time-share operator, Accor Premiere Vacation Club, has paid $11 million for 59 apartments at Busselton Bungalows, which it will re-brand as a Grand Mercure Resort.

Developers are eagerly eyeing a rare opportunity to develop an iconic hotel on Rottnest Island, amid concern from some visitors for the future of one of Western Australia’s favourite family playgrounds.

The cities of Armadale and Gosnells, and the Serpentine-Jarrahdale shire have joined forces to help residents of older, existing homes, retrofit their properties to save energy and water.

With the StateWest Credit Society Ltd and Home Building Society Ltd merger finally taking place after several setbacks, stockbroker Euroz Securities will have around $45 million worth of Home shares to sell.

New home starts in Western Australia were up by 7 per cent in the March quarter, up more than 13 per cent from the same quarter last year, according to the Australian Bureau of Statistics.

Port Geographe developer Axiom Properties Ltd is injecting $5 million into the $260 million Century City development run by its new majority shareholder Pivot Group, in return for 50 per cent of net profits of the office part of the development.

More than 20 per cent of StateWest Credit Society Ltd members have opted to cash in on its demutualisation and merger with Home Building Society Ltd, taking money instead of shares after a vote approved the deal.