Finbar Group has signed a joint venture agreement with a Singapore-based developer to purchase 1,697 square metres of land in the CBD for $6.5 million, which Finbar estimates will have an end value of $71 million once developed.
Planning Minister Rita Saffioti says the state government is assessing whether it needs to intervene following the rejection of Finbar Group’s $365 million Civic Heart proposal in South Perth by planning authorities.
Off-the-plan apartment buyers in Western Australia will receive a 75 per cent rebate on stamp duty for the next two years, capped at $50,000, under a stimulus package unveiled by the state government today that has been roundly welcomed by the development industry.
Surveying services business Veris recorded a 27.8 per cent rise in underlying earnings for the September quarter, underpinned by a substantial cost cutting strategy, which has been welcomed by investors.
Thomas Building has secured works at the $17 million Tambrey Shopping Centre - the first major retail development in Karratha in two decades - and been contracted to build the $6 million Kalgoorlie Renal Hostel.
The new chief executive of one of Western Australia’s most iconic companies says the state government needs to adopt a bold vision to help shake-off the state’s population growth woes and kickstart residential construction, with the establishment of Perth as the world leader in autonomous vehicles the type of initiative that should be embraced.
The Real Estate Institute of Western Australia’s latest data has confirmed the dire market for Perth’s homeowners, but Floreat, Karrinyup and Mindarie were among the handful of suburbs to record a positive median price shift.
A new co-working space has been launched 18 storeys above Adelaide Terrace, with Quest East Perth establishing a flexible office facility in joint venture with business networking forum The CEO Institute.
Western Australia’s biggest apartments developer has blasted planning authorities’ rejection of its Civic Heart proposal in South Perth, saying the process appeared to be “superficial and subjective” as it gears up for a State Administrative Tribunal appeal.
National developer Mirvac is spearheading a push for more affordable housing product in Western Australia, with initiatives designed to provide a stepping stone to home ownership and reduce ongoing living costs.
The Real Estate Institute of Western Australia has renewed its push to increase the stamp duty exemption threshold for first homebuyers, as part of a six-point plan it unveiled to help breathe new life into the state’s weak residential construction and property markets.