Perth’s City Square has become just the second property worldwide to bear the name of Canadian investment fund Brookfield, after it was rebranded Brookfield Place Perth.
Rising demand from the resources sector for office space in Perth’s CBD has been identified as the key driver of the highest rental growth across Australia since December 2008, CBRE says.
Atlas Iron has outgrown its current home at Alluvion on Mounts Bay Road, and will move into the $500 million Raine Square office tower by the end of the financial year, highlighting the tight office market in central Perth.
Retail property has been struggling for over 12 months in Australia but rock bottom is still to come, according to gloomy results from the Australian Property Institute’s six monthly property directions survey.
Shopping centre owner Centro Retail Australia is in discussions with investors regarding the sale of 50 per cent stakes in three of its shopping centres, including Morley's Galleria.
Apartment developer Finbar Group has announced its 27-storey Fairlanes office and residential project on Adelaide Terrace has achieved practical completion.
The City of Perth has approved plans for a $6 million, five-storey hotel on Hay Street, behind the Perth Ambassadors Hotel.
The 56-room hotel will be constructed on a car park located between Hill and Bennett streets.
Public examinations of three private companies associated with Luke Saraceni are set to proceed after the Supreme Court of Western Australia threw out objections over the appointment of administrators in January last year.
Rapidly falling vacancy rates and demand from the resources sector vaulted Perth into the world’s top ten most expensive office markets in 2011, according to research released today by commercial agent Knight Frank.
Shopping centre giant Westfield is upbeat about the future of retail sales in Australia despite overriding consumer caution and economic uncertainty abroad.
The Carramar Village shopping centre in Wanneroo has hit the market, with CBRE Perth appointed as selling agents.
The Woolworths-anchored shopping centre comprises a gross lettable area of 5,429 square meters and includes 14 specialty stores.
It was completed in 2009.
BWP Trust has reported a 41 per cent drop in interim net profit, booking $31.9 million in the black for the half year to December 31.
BWP said it booked $49.8 million in revenue, an increase of 23.4 per cent on the previous corresponding period.
The owner of Perth’s Novotel Langley is looking to cash in on increasing demand for hotels in Western Australia, putting the 253-room hotel to market.
Jones Lang LaSalle Hotels will exclusively market the property on behalf of its owner, Tourism Asset Holdings Ltd.
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