Marsha Jacobs

The state government is leading the charge to change Perth’s skyline, this week announcing the short listed developers for 140 William Street and unveiling the redevelopment design for the Old Treasury Buildings.

After a rapid turnaround in the commercial property sector during the past year, property commentators are forecasting a bumper five years ahead, with the market riding on the back of the bounding resources economy.

The Master Builders Association of WA says two new economic surveys have confirmed that building industry conditions are set to remain strong in 2006.

The East Perth Redevelopment Authority’s (EPRA) revamped Riverside first stage offering has had more success than the failed September launch, with 11 companies progressing to stage two of an expression of interest process.

Demand for land at LandCorp’s upmarket Minim Cove development in Mosman Park continues, with buyer interest in an early December release outnumbering available lots by four to one.

The Perth office of Woodhead International has won an international paid design competition for a $A600 million mixed-use development in Islamabad, Pakistan.

The wealthy and private Caratti farming family has been linked to a major CBD office deal of this year, the $11.3 million purchase of 218 St Georges Terrace.

The good times are continuing in the Perth office market, with almost $400 million worth of CBD property changing hands this year and local investors weighing in heavily alongside interstate and international buyers.

Western Australia’s residential property market continues to defy the national trend, with median house prices crashing through the $300,000 barrier in the September quarter this year and house values increasing a massive 17.7 per cent on the same period

Property development heavyweight Westpoint has hit back after a two-week battering by the Australian Securities and Investments Commission with claims ASIC is destabilising the industry and not pursuing the interests of investors.

Listed property trust Aspen Group Ltd has bought the Dunsborough Lakes residential development from Ric Stowe’s Griffin Group for $93.5 million.

The Property Council of Australia and the Sustainable Energy Development Office have entered into a memorandum of understanding regarding a partnership to promote energy efficiency in the property sector.

Perth founded listed litigation funder, IMF Australia has announced an $18 million capital raising to fund future litigation.

If the recently unveiled plans for the redevelopment of Perth’s foreshore sound familiar, they should.

Rapid growth has driven Great Southern Plantations to seek a new head office for the second time in two years.

As Australian wine companies retreat from the use of European geographic regions in relation to their products, one Western Australian wine producer has managed to hold firm.

Although the state government has voiced its support for foreshore development, the controversial issue of coastal development seems to have died down after the government introduced a height policy earlier this year.

Action currently under way by the Australian Securities and Investments Commission against Westpoint Group hasn’t swayed the enthusiasm of many property companies and lenders, who see mezzanine financing as a mainstream way of financing developments.

While participants in the WA Business News forum agreed that more inner-city development was needed, the issues and consequences that arise when residential and commercial developments are combined are well known, as evidenced by the Old Swan Brewery and

Frustrated at its inability to control non-aviation development on federally owned airport land, the state government has taken a swipe at the Commonwealth and, in the process, BGC’s proposed brickworks.

Langley Park will this weekend play host to the inaugural Perth International Polo Cup, which organisers hope will become the first of a series of international events raising the profile of the traditionally exclusive game.

After long period of industry speculation over Westpoint Group’s operations in the risky business of apartment developments, the corporate regulator last week took action against companies within its property empire.

There has been a marked increase in activity in Western Australia’s historically under-represented listed property trust sector during the past 12 months, thanks in no small part to the activities of a growing local player.

The Town of Claremont has backed down and given approval for joint venture partners Hawaiian and Multiplex to build a new $280 million residential and retail centre in Claremont originally proposed in March, after recently rejecting a retail only proposal

The number of tax-effective philanthropic foundations has gone from virtually zero to more than 350 during the past four years, with wealthy Western Australians establishing 19 per cent of those foundations.

The Mirvac Group made its first move into land syndication in Western Australia last week, highlighting the growing trend among property developers of using syndicates to complete projects.

In February this year, Andrew Ellison knew he had an uphill battle on his hands when he acquired the operating business of Bunbury-based Devaugh Constructions from administrators.

Property Resources Management Pty Ltd and its partner, Lang Walker’s Walker Corporation, are to be the private sector developers of a new 338-hectare housing project called Banksia Grove.

LWP Property group is the developer of Ellenbrook, the fastest growing and most awarded new urban community in Western Australia.

Woodside Energy first funded the AWESOME Arts Australia in 2000 as part of its long-standing commitment to young Australians.

Port Bouvard expects increased return to shareholders on better-than-expected prices for the final sale of land at its two estates, in Stirling and near Mandurah.

Private funds manager Ascot Capital is in the final stages of negotiation to purchase Jandakot Airport for $47 million from companies linked to bankrupt earthmoving mogul Kevin Pollock.