Perth Commercial Property News

Industrial property is in hot demand in Western Australia as investors and businesses seek land and additional warehouse space following a boom in e-commerce and the mining industry.

Property investment group Charter Hall has paid $134.3 million for 21 childcare centres in Melbourne and Western Australia.

WA is paving the way to become a global player in robotic systems testing and research with construction of a major hub in the works north of Perth.

Billions of dollars worth of office towers are on the block and buyers are still coming, while rates are low with a strong bounce back expected.

An iconic Northbridge building, which has been home to Perth’s much-loved Sorrento Restaurant for almost four decades, has been sold for $1.85 million. The property, at 158 James Street, sits in the heart of the busy inner city entertainment precinct and has etched itself in the hearts (and bellies) of many West Australians.

Sellers of Perth CBD’s London Court have been swamped by enquiries after the precinct was listed for sale for the first time in 70 years.

Perth’s CBD office market has remained one of the most robust in Australia, despite COVID-19 transitioning businesses from traditional workplaces to work-from-home set-ups. Industry analysts say it is largely due to the booming resources sector.

Singapore’s sovereign wealth fund GIC has swooped on a quarter stake on the under-construction Chevron headquarters in Perth, with the deal valuing the building at close to $900m.

More than a million commuters will be absent from CBDs across Australia’s capital cities as working from home emerges as one of the biggest social shifts due to the COVID-19 pandemic.