Although LandCorp is charged with supplying industrial land, purchasers are making substantial profits through sales, subdivision and increasing rents.
With Western Australia’s strong economy continuing to drive demand for industrial land, owner occupiers and investors are securing industrial land as fast as it is being supplied.
Western Australia’s status as the state where business contributes the most to arts has been highlighted by the announcement of several new sponsorship agreements in the past week.
The Satterley Group last week announced a joint venture with Linc Property and John Poynton in purchasing a 4.3-hectare bulky goods site from the Midland Redevelopment Authority for $11.8 million.
The State Government has opened the door to the possibility of a joint venture to redevelop the old treasury buildings on the corner of Barrack Street and St Georges Terrace.
The legal profession hasn’t escaped the skills shortage affecting industries across Australia, with many respondents to this year’s Legal Elite reporting there is a shortage of lawyers available to undertake work.
Among the Phillips Fox property team, which was highly rated in the Legal Elite survey, many respondents nominated Paul McQueen as the stand-out performer in a wide field of quality lawyers.
No sooner had Michael Lundberg become a partner at Mallesons Stephen Jaques in January this year than he was thrust into the action, representing Kumba Resources Ltd against Gina Rinehart’s private companies in negotiating a settlement in relation to the
Siteworks have started for a nine-storey, 32-apartment complex at 990 Wellington Street, West Perth, which has generated controversy amid claims the development is outside City of Perth’s Town Planning Scheme guidelines.
Unlike most of the categories in this year’s Legal Elite, which primarily focus on the major industry players, the planning and environment section features practitioners from both large and small firms.
Outgoing national president of the Royal Australian Institute of Architects, Warren Kerr, says the appointment of a government architect, Professor Geoff London, was the most tangible legacy of the Year of the Built Environment.
The Housing and Urban Research Institute of Western Australia (HURIWA) has appointed Associate Professor Fiona Haslam McKenzie as the first full-time director.
Peter Laurance’s Pivot Group is gearing up to begin a $140 million, three-level retail development at 100 St Georges Terrace, creating a significant new retail precinct in the CBD.
The High Court has clarified the position in relation to insurers who decline to provide funding to defend allegations of dishonest or fraudulent behaviour, saying such a clause needs to be clearly expressed to take effect.
Futuris Corporation Ltd has significantly expanded its property empire by strengthening its hold over the $119.3 million Westralia Property Trust, two years after its listing.
The City of Bunbury is creating a long-term plan for the city with an emphasis on water-based development and securing hundreds of millions in investment funding.
Owners of office development sites are actively marketing to attract anchor tenants amid falling vacancy rates, a tightening of space availability and increasing investor interest not seen for a decade.
Increasing speculation over the health of the residential property market is adding to the growth in investors and owner-occupiers buying small industrial properties.
