Henderson-based Nomad building Solutions Ltd has announced today the $40 million acquisition of the construction, property management and modular building business units of Rapley Wilkinson.
New figures reveal that the median Perth house prices rose 1.1 per cent to a record $466,000 in the December quarter, slightly higher than the previous peak recorded in the March quarter last year.
The Melbourne-based builder behind Perth’s iconic $1.3 billion Capital Square apartment development on the former Emu Brewery site, Contexx Pty Ltd, has pulled out of the project, leaving developer Saville Australia to negotiate a new contract.
An up-market wine bar planned for Leederville’s Oxford Street has been stopped in its tracks after the Town of Vincent rejected planning approval, leaving its developer nursing $30,000 in costs and considering taking the business to Melbourne or overseas.
Western Australia’s commercial office market notched up almost $1 billion in sales last year, and while some analysts predict the same heights may not be reached in 2008, market fundamentals indicate that strong growth is likely to continue.
The performance of WA's industrial property market during the past 12 months has more than matched the commercial sector, with record sales and rents being generated, although prices are tipped to level out as more supply comes on to the market in 2008.
With only 7,000 square metres of office space remaining in the CBD and West Perth, and rents already passing $800 per square metre this year, property analysts expect developers will head for Perth’s fringe suburbs to boost office stock
As popular commercial suburbs put up the ‘no vacancy’ signs, many businesses have been forced to look to neighbouring areas to find space to accommodate their growing enterprises.
State Scene hopes opportunities arise during 2008 that will enable a historical assessment of recent contemporary events, making them more meaningful in the wider context.
PEET Ltd has launched its wholesale funds management business with the completion of a $300 million wholesale land syndicate for Alkimos, 40 kilometres north of Perth.
VICTORIA Park-based property group Tasica Developments Ltd has launched a prospectus to raise up to $5.5 million to help fund the development of a 75-lot residential subdivision in Baldivis.
The Australian Property Institute, in conjunction with Finsia, is holding its fifth annual residential property outlook breakfast, January 31 at the Perth Convention & Exhibition Centre.
Property group Stockland has sold its 25 per cent stake in the Karrinyup shopping centre for $152.5 million, more than doubling the value of its original investment.
The Real Estate Institute of Western Australia has again called on the state government to reign in the state's runaway stamp duty, after new estimates reveal stamp duty on residential homes has blown out by 31 per cent this financial year.
The Subiaco Redevelopment Authority has appointed Jones Lang LaSalle as the new sales agent for the Subi Centro urban renewal project, after a competitive public tender process.
Victoria Park-based property group Tasica Developments Ltd has launched a prospectus to raise up to $5.5 million to help fund the development of a 75-lot residential subdivision in Baldivis.
Property group Peet Ltd has announced the successful launch of its wholesale funds management business with the completion of a $300 million wholesale land syndicate for Alkimos, 40 kilometres north of Perth.
The Western Australian Planning Commission has approved ING Real Estate's controversial $200 million Victoria Quay redevelopment in Fremantle, paving the way for the transformation of the harbour-side locale into a major office and retail hub.
Rio Tinto Iron Ore has given the green light to construct a Remote Operations Centre on a two-hectare site at Perth's Domestic Airport, as foreshadowed in WA Business News this month.
