WA Commercial Property News

One of the Pilbara’s most beloved watering holes is up for grabs.

Improving office leasing markets in the nation’s resources capitals and the rise of co-working tenants in eastern seaboard central business districts are driving expectations that markets will favour landlords.

The under-pressure shopping centre market is about to receive its biggest test in years, with AMP’s funds arm exploring a sale of the $1.2 billion Garden City Shopping Centre south of Perth.

Woolworths has sold a suburban Perth shopping centre for $27.3million, but in a lucrative win for the new owners the supermarket giant could stay on as a tenant for another 60 years.

Shopping centre landlords are again turning to the residential market to bolster returns from their projects with several major companies planning apartment towers above or around their developments.

Singapore-based Redhill Property Partners is heading the field of bidders for Perth’s BGC Centre, which is being sold by the family of late tycoon Len Buckeridge for about $110 million.

Accessible only by air or water, Western Australia’s Wilderness Island and its eco resort are now on the market.

The funds arm of property group Dexus is planning an elevated garden and sky lobby as part of a $200 million plan to transform Perth’s Carillon City shopping centre and create a new lifestyle precinct in the heart of the CBD.

Andrew “Twiggy” Forrest, whose net worth reached $10 billion this week for the first time, has embarke­d on an unprecedented spending spree — on iconic waterfront properties, a new private mansion and countless charitable ventures — that will define his legacy and leave his mark on Perth.