An improved result in Western Australia, despite challenging market conditions and continued falls in brick selling prices, has helped building materials company Brickworks boost underlying net profit to $223.7 million for the 2018 financial year.
Perth-based The Agency Group Australia has executed an option to acquire east coast real estate group Top Level for $5.5 million, while also announcing an $8.4 million capital raising and a $5 million debt conversion deal.
Property developer Carmel Group and Aegis Aged Care Group have been chosen to build a $100 million multigenerational development at the former Joondalup Basketball Stadium.
BGC Development’s Westin Hotel and Hibernian Place development was picked as the top project in Western Australia in this year’s Urban Development Institute Australia WA awards.
Apartment developer Blackburne is proceeding with its Marina East project on the Ascot marina, with a construction contract awarded to local builder Georgiou Group.
Singapore company Sincap Group has announced a settlement of its long-running commercial dispute with three directors of Perth property developer Devwest Group.
International serviced office provider Regus is close to finalising a lease for new office space at Raine Square, being developed by Charter Hall Group.
The state government has failed to attract a hotel developer at Albany’s Middleton Beach, with a recent expression of interest process bringing no suitable submissions.
Apartment developer Finbar Group has bought the final stage of the Symphony City development site in East Perth from its joint venture partner Ventrade Australia for $4.5 million.
Perth company Parkd has struck a deal with property developer Vector Management to evaluate construction of a $9 million car park in the inner city, while the state government has announced plans for a $32 million car park at Forrestfield.
The Perth residential rental market continues to show signs of improvement, with the vacancy rate falling to 4.5 per cent in August, according to the Real Estate Institute of Western Australia.
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