The operator of Metropolis Fremantle says the nightclub faces a difficult rebound from COVID-19 if and when it can begin operating again, with a stalled rent negotiation a demonstration of the uncertainty building over commercial property leases.
The value of Perth’s houses increased 0.5 per cent in the month of March, strengthening the recovery underway for the past six months, but the onset of COVID-19 means the recent gains are unlikely to continue.
Planning is again under way to determine the best use of Cape Peron, two years after Planning Minister Rita Saffioti put the kibosh on DevelopmentWA and Cedar Woods Properties’ contentious Mangles Bay Marina joint venture proposal.
Apartments developer Finbar Group has put new project launches on hold, including its $365 million Civic Heart in South Perth, and withdrawn its profit guidance as uncertainty spreads throughout the property sector.
Western Australia’s biggest building surveyor has warned an insurance impasse could halt major construction and infrastructure jobs across the state, with surveyors facing cost hike challenges and delays in renewing professional indemnity insurance.
Just Jeans, Peter Alexander and Smiggle are among several Australian brands set to close their doors tonight due to the COVID-19 crisis, while commercial landlord Dexus has withdrawn its earnings guidance for 2020.
Perth's residential property market is proving resilient in the early stages of the novel coronavirus crisis, but agents are bracing for leasing and home sale transactions to grind to a halt in coming weeks.
Primewest has postponed the spin-out of a new $285 million commercial property trust, citing market volatility, with Macquarie Bank and rent.com.au among other listed companies to change their capital raising plans.
Western Australia’s construction and commercial property sectors are bracing for the impacts of the COVID-19 pandemic, with imports of building materials likely to be disrupted and retail activity expected to plunge in coming weeks