Property

LONG-TIME Perth home builder Robert Shaw doesn’t want to see another crisis in home affordability as the state heads towards another widely tipped property upturn in the next few years.

Demand for inner-city, high-density apartment living in Perth is tipped to jump on the back of a surge in mining investment, increased migration to the state and more younger buyers.

A JOINT venture between two Western Australian companies has bought two office buildings in Richmond, Melbourne, in recent months, paying about $30 million for the two.

WESTERN Australia’s commercial construction sector is reaping the benefits of the state government’s commitment to the upgrade of the state’s medical infrastructure and facilities.

Long-standing commercial and industrial construction company Sizer Builders was placed into the hands of receivers and voluntary administrators last month after trading unprofitably.

THE Peet Yanchep Land syndicate has settled the $62 million purchase of its development site after Peet Limited bought the majority of syndicate shares.

Receivers for troubled office development Raine Square say project financiers gave the developer, Westgem Investments, ample opportunity to meet its debt obligations, but Westgem chief Luke Saraceni says Bankwest would not discuss refinancing options.

The director of beleaguered office development Raine Square has labelled its receivership unnecessary, saying the project still has "strong financial metrics".

The Satterley Property Group and 17 of the state's leading builders are set to combine resources in a partnering arrangement to deliver more affordable housing.

Building products manufacturer Wesbeam posted an improved result in financial year 2009-10, but remains short of being profitable, according to its latest accounts.

A PROMINENT Perth-based lawyer has questioned the need for local governments to remain involved in town planning, after Planning Minister John Day last week moved to smooth the way for mid-rise development on Cottesloe’s beachfront.

OFFICE leasing is the CBD has become increasingly competitive as growing firms absorb record levels of office space, and owners of older buildings mobilise plans to reposition their stock to compete with a raft of new offerings to the market.

WESTERN Australia’s construction and development sector is set for a change in fortune after a lacklustre 2010, according to new research by construction industry analysts Davis Langdon.

PERTH’S residential property market is in a state of oversupply and in the midst of a price correction with industry experts warning the market has been overstimulated.

PERTH’S property markets are proving attractive to overseas investors, with new research showing office, retail and industrial sectors in Western Australia are undervalued amid rising enquiry levels from offshore investors.

PLANS to develop a major ‘city centre’ at Innaloo have been given a boost after Planning Minister John Day took the rare step of intervening in a long-running dispute between Georgiou Capital and the City of Stirling.

PROPERTY investment and funds manager Aspen Group has made a profit after selling an office property in inner Melbourne for $33.3 million.

A RECENT decision by the State Administrative Tribunal will allow nickel miner Panoramic Resources to construct a workers’ accommodation camp at one of its mines sites despite objections from the Shire of Coolgardie.

THE Department of Housing has bought the Broome Motel in an effort to address the shortage of cheap accommodation for workers in Broome.

DEVELOPER Finbar Group has reached a joint venture agreement with Heyspring International to build 190 new residential apartments in East Perth.

THE Master Builders Association has identified industry driven training schemes and employer bond systems as new strategies to address anticipated skills shortages over the next two years at its annual Skills Summit.

Since retiring from the board of Mirvac in June, Adrian Fini is still making an impact on the Perth property scene.

THE firm behind the overarching plan that will help guide Perth’s suburban residential, retail and commercial development over the next 20 years has received a national Planning Institute of Australia Award for planning excellence.

HAZELMERE is emerging as a major site in Perth’s industrial land market, after Coca-Cola Amatil signed a 10-year lease to join blue-chip tenants Toll IPEC and MTU Detroit Diesel at Goodman International’s Stockyards Industrial Estate.

Centro Properties Group, which owns 19 shopping centres in WA, says the competitive market process it's initiated to determine the group's future might result in any of a range of results, ranging from asset sales to change of control of the group.

Marilynne Paspaley's Pinctada Hotels and Resorts has been named the preferred proponent to build a new hotel on Rottnest Island, beating a rival proposal from Karma Resorts.

A SURGE in demand for short stay accommodation in York has given investors the opportunity to buy into heritage property Settlers House, which has recently undergone a $7 million expansion, taking it from 18 to 88 units.

ROBUST economic conditions and pricing opportunities have seen Western Australia’s commercial and industrial property sectors at the forefront of a global property recovery, according to industry research.

OVERSUPPLY in Perth’s residential property market has seen it emerge as the weakest performing in the nation, according to median price analysis.

NATIONAL affordable housing provider Community Housing Limited has pledged to improve the service and maintenance of 273 state-owned dwellings in the East Kimberley, and ultimately provide permanent employment for indigenous locals through the expansion o

Home loan approvals in Western Australia bucked the national trend in September increasing 5.5 per cent compared to the national figure of 1.3 per cent.

JULIAN Walter might be best known in Western Australia for his building empire but his latest commercial initiative is the agriculture sector, where he wants to build a paddock-to-plate empire under the Cherylton brand.