Perth Commercial Property News

Singapore’s GIC Real Estate, AMP Capital and West Australian group Primewest are negotiating a deal that would see the sovereign wealth fund take almost full control of Perth’s Exchange Tower in a play that values the asset at close to $330 million.

The carve-up of late construction tycoon Len Buckeridge’s property empire is accelerating with Singapore’s Hiap Hoe positioning to buy his company’s Aloft Perth hotel, and an office complex, for more $100 million, as attention turns to his business holdings.

Supermarket giant Woolworths has sold a suburban shopping centre in Western Australia for a whopping $27 million.

The carve-up of late construction tycoon Len Buckeridge’s property empire has begun, with a major Asian group swooping on Perth’s newest five-star hotel, The Westin Perth, for about $200 million.

Singapore-listed Chip Eng Seng Corporation has sold the well-known White Sands Tavern site in Scarborough, clearing the way for a new group to undertake a development up to 18 storeys high in the Perth beachside suburb.

The acquisitive Charter Hall Group is forging back into Perth’s hot office market, seeking to buy the city’s Optima Centre for about $130 million.

Sydney-based boutique fund manager Barwon Investment Partners has made its first foray into Western Australia, funding the $20 million development of a healthcare hub north of Perth.

The Future Fund is looking to ­reduce its exposure to Perth’s strongly performing retail market through the offer of its stake in the $1.2 billion Lakeside Joondalup Shopping City.

Western Australia’s first Direct Factory Outlet will open in four weeks.