Retail

Kardinya’s $100 million new town centre is proposed to include a 12-storey apartment building and a redeveloped shopping centre and entertainment precinct, under plans lodged for approval this week.

Cottesloe’s Napoleon Street is the best performing retail strip in Perth, according to new research by Ray White, with vacancy dropping from 6.9 per cent to zero in two years to September 2019, while Subiaco, Leederville and Mt Lawley have had big increases.

Profit has more than tripled at one of Western Australia’s most prominent family businesses, which controls the Spudshed chain of retail stores.

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.

Coventry Village in Morley has joined the list of Perth shopping centres to go solar, with the installation of a new 1.3-megawatt solar power system.

SPECIAL REPORT: Landlords unwilling to budge on rents have been blamed for exacerbating Perth’s retail downturn, but leading leasing agents say the sector’s problems are substantially more complicated than the cost of tenancies.

Western Australia has bucked the national trend and recorded a 0.6 per cent rise in retail spend for July, underpinned by gains in the hospitality sector, according to the latest data from the Australian Bureau of Statistics.

The company that manages the Galleria Shopping Centre has been fined $45,000 after it was found guilty of failing to ensure safe access and egress for persons who were not its employees, after an explosion at Galleria in 2015 killed two men and left two others with severe burns.

Automotive Holdings Group has suffered a loss of $232.6 million for the 2019 financial year, following major asset write-downs to its automotive and refrigerated logistics businesses during the period.