Garden City open

Garden City open

GARDEN City’s $110 million redevelopment was officially opened last week after more than18 months of work.

About 90 new specialty stores have been added bringing the total number to more than 200 and increased the retail floor space by 16,500 square metres to 65,000 square metres. The centre, which has been operating for 27 years, is co-owned by AMP Statutory Fund No. 2 and the listed AMP Shopping Centre Trust, which was managed by AMP Henderson Global investors.

Positive increase

THE underground power scheme was having a positive impact on real estate values by making the streetscape more attractive to homebuyers, according to Acton Consolidated Central director Mark Anderson. He said an example of where underground work had added value to a property was in Heytesbury Road, Subiaco, where a home with underground power recently sold for $25,000 more than a similar home without it.

Rockingham start

THE largest residential development undertaken in Rockingham will see a further 1168 lots developed in the city on a bushland site adjacent to Lake Richmond. Earthworks for The Anchorage project are well under way and the first lots are expected to be pre-released by the middle of next month.

Stage one of the project will include 82 lots with prices expected to range from about $60,000 to $75,000.

House finance up

HOUSE finance in Australia jumped a further five per cent in August – well above market expectations and almost 13 per cent up on two months earlier. Westpac economist Harley Dale said the rise was very encouraging.

Residential plan

A NEW plan to encourage future employment closer to residential areas has been released by Planning Minister Graham Kierath. The Metropolitan Centres Policy Statement aimed to provide employment locations around the metropolitan area to reduce congestion on the roads and would help provide more sustainable communities rather than dormitory suburbs, the Minister said.

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