Gary Kleyn

POOR planning for the millennium bug may result in building owners suffering legal action or non-payment of rentals, according to Jones Lang LeSalle’s Jeffrey Binks.

LANDLORDS may be at significant risk from the GST, due to come into effect on 1 July 2000 and should immediately review their leases to identify potential traps.

Australian companies and institutions are buying back some of WA’s real estate from foreign investors but at a premium because of the current strength of the property sector.

The strong interest in inner-city living continues to fuel demand for secondary commercial buildings within the CBD according to valuation firm Herron Todd White.

Ignorance about the impact of the GST in the housing market is causing unnecessary panic amongst first home buyers according to the Western Australian Housing Centre, general manager, Anthony Kinder.

In today’s dynamic commercial environment the Property Council produced West Australian Shopping Centre Directory and Benchmark Survey are sources of retail information and decision making tools which make a difference.

WA universities are being targeted as sites for future Travelodge hotels following an agreement reached with leading Australian property development company CRI, Southern Pacific Hotels Corporation (SPHC) and Mac-quarie University in Sydney.

John Ralph has handed the Federal Government an 800-page blueprint for business tax reform, while the Property Council has intensified its lobbying effort.

The latest building approval figures released by the Australian Bureau of Statistics for the month of June highlight the robust nature of the building sector.

The industrial wasteland situated on a wedge between the Indian Ocean, Koombana Bay and the Leschenault Inlet in Bunbury is set to be transformed over the next year.

PRIME Minister John Howard has killed the property industry’s fear the Government was re-considering its promise to scrap stamp duty on commercial property transactions.

Moves are afoot to standardise the language and reporting requirements of mining companies world-wide based on an Australasian Code.

The net value of farm production is forecast to fall by 7.6 per cent to $3.3 billion in 1999-2000 according to the latest issue of Australian Commodities Forecasts and Issues, released by the Australian Bureau of Agriculture and Resource Economics.

Office vacancies in the Perth CBD have risen by nearly a full percentage point to 12.3 per cent according to the Property Council of Australia’s latest office market report.

The Australian Securities and Investments Commission has moved to ensure greater consumer protection for people who have placed money in mortgage investment schemes.

The four major banks have performed poorly in a new survey undertaken by independent assessor, CANNEX.

Real estate agents providing financial advice to clients will be regulated in line with other financial advisors if a report by the Australian Securities and Investment Commission gets the nod from the Federal government.

“Mission accomplished” was what John Howard said in reference to his tax reform and the impending GST at the recent Liberal party state conference.

Home owners should be wary when mortgaging their home to buy shares says Hegney Property Valuations, managing director, Gavin Hegney.

The Western Australian Land Auth-ority (LandCorp) recently launched its new business directions for the 1999/2000 financial year.

A FULLY restored and extended character office at 54 Ord Street, West Perth – once the home of Benchmark Advertising – is being auctioned on 18 August.

Building has begun on stage one of Subiaco Square – the centrepiece of the $100 million Subi Centro redevelopment project.

There has been a general trend towards providing four and five star accommodation according to new data compiled by the Australian Bureau of Statistics.

WA IS holding up well thanks largely to a healthy housing sector which saw another strong quarter of growth.

A $4.7 million project to underground power lines to Rossmoyne residences will commence early in 2000.

One of Perth’s prime St George’s Terrace office buildings situated between Perth’s two landmark office towers of QV1 and Central Park is for sale at an asking price of $8.85 million.

THE long-held belief that there may be a direct correlation between the strength of union membership and working days lost may be incorrect.

Aged and disabled care providers the Brightwater Care Group has recently opened a $5.8 million development in Malaga Business Park.

PEET & Company Ltd land development manager Gra-ham McArthur has been elected as president of the WA division of the Urban Develop-ment Institute of Australia.

An increase in the supply of rental accommodation in Perth has eased pressure on rental accommodation at a critical time, according to the latest monthly survey by the Real Estate institute of WA.

Perth is currently undergoing one of the strongest increases in supply of retail space on record according to research by Colliers Jardine.

Site clearance, to make way for the Moorings, the Lester Groups riverside development in North Fremantle, has commenced amid speculation that the $16 million first stage of the project may never be offered to the public.