Friday, 4 March, 2022 - 15:44
Westbridge buys $16m Canning Vale warehouse
The property fund manager purchased the 23,177 square metre site from Perron Group, with the property leased to a Wesfarmers subsidiary.
Damian Collins has always had an interest in property development. Since settling in Western Australia, he has developed a substantial business and property investment portfolio.
After recognising that few people in the property industry were working for property buyers, Mr Collins formed Momentum Wealth, to represent the best interests of property buyers. Momentum Wealth is now a full-service property investment consultancy.
Mr Collins has been a councillor of the Real Estate Institute of WA (REIWA) since October 2011. He was vice president from October 2015 until his appointment as president from October 2018 to October 2022.
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The property fund manager purchased the 23,177 square metre site from Perron Group, with the property leased to a Wesfarmers subsidiary.
A spat between coastal residents and the decision-making body which approved the Yelo site development has escalated to the Supreme Court, with a trial planned in May.
In somewhat of a circular argument, WA’s skills shortage is hampering the availability of homes for the workers needed to boost housing stock.
House prices in Perth have risen by one per cent in March, above the national increase of 0.7 per cent, as home values in Melbourne and Sydney dropped.
The suburbs of Salter Point, Bicton and Ascot have recorded the largest median house price growth since the COVID-19 pandemic began in March 2020.
Construction costs for Momentum Wealth’s proposed six-storey apartment block in Shenton Park have gone up by millions of dollars, nearly 40 per cent up from its initial estimate.
Cath Hart reflects on her time at the Housing Industry Association of WA as she prepares for a new challenge.
Home values in the West Australian capital increased at almost twice the national rate in April.
Perth voted the preferred national capital to invest in property in the next 12 months.
Property groups welcome state government investment in housing, but say its infrastructure spend could further stifle private sector development.
Perth house prices have increased last month despite CoreLogic data recording the first national decline in 20 months.
The building giant has stopped making new sales from its Commodore Homes brand while demand exceeds supply.
A Supreme Court trial over an apartment proposal at the Yelo cafe site has come to an end after resident group Too Big for Trigg dropped its application.
Perth’s median home values defied the national trend to increase by 0.4 per cent to $558,000 in June.
Rental demand in Perth continue to rise but with vacancy rates plummeting, experts say more investors are needed to increase supply.
Median house prices in nearly a dozen Perth suburbs have hit the $1 million mark for the first time ever during the 2021/22 financial year.
The Southern River asset, anchored by Dan Murphy’s, forms part of Westbridge’s Diversified Fund No. 4.
Apartment developers are facing increasing costs amid tightening margins and constrained supply.
Investment in residential property as a rental asset has fallen away in recent years, with concerns that trend will continue.
Home values in Perth have decreased for the first time in 10 months, as CoreLogic’s home index dips by 0.2 per cent.
Western Australia was the only state to record house price growth expectations in a recent Property Council report.
Perth’s median house price has dropped for the first time in at least a year, CoreLogic data shows.
Perth has one of the lowest rental vacancy rates in the country with 0.6 per cent compared to a 1.1 per cent rate nationally.
Dunsborough real estate agent Joe White will head up the organisation, after Damian Collins’ exit.
The state government’s efforts to regulate holiday homes drag on while councils take matters into their own hands.
Recent moves in the industrial property sector show the market should continue to outperform this year.
The property fund is planning a $13 million luxury townhouse development across the three adjoining lots.
The West Perth-based property fund has bought a hotel and liquor store for $15 million as part of its first total return fund.
The Damian Collins-led developer hopes to start building the homes early next year.
Property funds are navigating economic headwinds to deliver returns to their investors.
The WA-based fund manager will place the $6 million asset within its total return fund.
Plans to demolish an existing apartment building to make way for luxury townhomes have been approved by council.
The Subiaco-based fund manager has purchased a $23 million retail centre near Ipswich.
Damian Collins says people tend to make more mistakes in a heated property market.
A $78 million, nine-storey apartment project is being lodged with the City of Subiaco today.
The Subiaco-based syndicator has purchased two medical centres from Centuria.
Westbridge Funds Management sold the Baile Road property for $12.3 million.
WA’s Westbridge Funds Management has divested one of its industrial assets in Victoria, pocketing $30 million from the transaction.
The Subiaco-based fund manager has sold an 809sqm block to a local developer for $2.13 million.
Subiaco-based Westbridge Funds Management has acquired a manufacturing facility interstate for slightly more than $30 million.
It’s an uncertain time for investors right now, but commercial property can deliver healthy returns and regular income without a nail-biting ride.If the first few months of 2022 are anything to go by, investors may be in for a bumpy ride this year.
Right now, investors face plenty of unknowns. But amid the uncertainty, commercial property is one investment that can bring welcome predictability to a portfolio.
It’s been talked about. And now it’s finally happened. The Reserve Bank has hiked interest rates by 0.25%, and already it’s impacted the share market. But in these uncertain times, commercial property funds can be a steady, reliable investment.
Residential property can steal the limelight, but new research shows almost three out of five (59%) Australians are keen to get into commercial property, and over one in ten have already invested in the sector.
As Australians embrace low maintenance lifestyles, demand for townhouses is rising amid tight supply. Westbridge is meeting the market – and delivering opportunities to investors, with its new Cottesloe Fund.
The MW Group celebrates 17 years of growth in 2023, and as one of Australia’s leading property consultancies, one core goal has underpinned this success.When it comes to property investment, there’s not much that Damian Collins, Founder of the MW Group, hasn’t seen.
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Damian Collins is linked to 8 organisations which are included in 5 lists - Real Estate - Residential, Associations, Shopping Centre Owners, Property - (Built-form) Developers and Fund Managers.
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