Perth Commercial Property News

For Perth developer Luke Saraceni, the past decade has partly been about putting the events of the last global financial crisis ­behind him.

Perth’s commercial property market is bouncing back from the coronavirus pandemic, with buyers vying for assets across the city.

A major Perth supermarket site has been snapped up for $15.5 million, flagging the local market is improving, agents say.

Industrial property investors are cashing in on the pandemic e-commerce boom with Australia Post among the freight companies signing new leases to expand their operations.

https://www.realestate.com.au/news/wa-announces-rental-relief-for-residential-and-commercial-tenancies/

Listed property investment and funds group GDI is stepping up its push into the Perth market and is in talks to buy the city’s Durack Centre that diversified major Stockland put on the block for about $110 million last year.

Global house Invesco has stamped its authority on Perth’s property market with the purchase of a half-stake in an $800 million skyscraper being developed by Canadian giant Brookfield as the headquarters of oil and gas giant Chevron.

The John Bond-led Primewest has snapped up an office block and a shopping centre in Western Australia in deals worth $65m in total as it buys fresh assets that will add to its $4 billion property funds empire.

The shopping centre industry has been bolstered by the sale of a half-stake in one of Perth’s largest properties, the $1.1bn Garden City, to local Westfield owner, the Scentre Group.