Major commercial construction jobs have been derailed by the novel coronavirus crisis, with neither the public nor the private sector stepping up to provide certainty for contractors.
ASX-listed funds manager and retail landlord Primewest has offered to cover the cost of professional advice for its retail and commercial tenants affected by COVID-19, in a partnership with multinational accounting firm RSM.
Just 37 per cent of shops at Western Australia’s biggest malls and main street retail strips are open for trade, laying bare the impact of the COVID-19 crisis on the retail sector.
El Caballo Resort and Lifestyle Village will be repurposed to become a social housing facility for indigenous Australians under a new joint venture established by the South West Aboriginal Land and Sea Council.
The Australian Institute of Architects is calling on governments to drive targeted initiatives that could stimulate the property sector, helping to accelerate economic recovery from COVID-19.
Halls Head Shopping Centre has sold for $6.3 million to an unnamed interstate investor, continuing a recent trend of east coast players acquiring Western Australian retail assets.
The COVID-19 crisis has pushed any recovery in Western Australia’s residential building sector out to 2021-22 at the earliest, with new modelling released by the Master Builders Association showing the record downturn is set to continue.
A plunge in sales activity due to the COVID-19 crisis has not yet had a material effect on house prices, with Perth’s median nudging up slightly in April, according to CoreLogic.
Two court rulings this month have paved the way for the continued investigation of property developers Allen Caratti and Tina Bazzo, who are being pursued by the Australian Tax Office, the Federal Police, and liquidators.
Global mechanical drive systems supplier Flender is establishing a manufacturing base in Western Australia, becoming the latest tenant at the Linc Property-led Tonkin Highway Industrial Estate.
ASX-listed fund manager Primewest is building a portfolio of agricultural assets, launching a $100 million syndicate and announcing the acquisition of a property leased to Australia’s biggest fruit and vegetable processing group.
Real estate agents and new homebuilders have roundly welcomed the lifting of restrictions that shut display villages and prevented home opens, with the shift expected to help the sector rebound from record low transaction levels.
Mustera Property Group has been given the green light to proceed on its Forbes Residences proposal in Applecross, following two rejected development applications and a revision from 20 storeys down to 13.
Pilbara Ports Authority is shifting its Perth office from West Perth to the CBD, continuing the tenant exodus from the near-city suburb as it moves its premises to a full floor at 999 Hay Street.
Developer and syndicator Lester Group has splashed $58 million on large-format retail precinct Midland Megaplex, while Fortescue Metals Group has expanded its warehouse and office footprint in the eastern suburbs.
A $154 million package to support tenants and landlords and boost the construction industry has been unveiled by the state government, in its latest effort to reduce the economic carnage of COVID-19.
Apartments in central Perth are maintaining resale values, with a vast majority of transactions in the past three years occurring at or above the median price for all dwellings, new research has found
The number of Development Assessment Panels will be reduced from nine to five this week, as plans to streamline Western Australia’s planning system come into effect.
