Perth Commercial Property News

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.

Billionaire Queensland businessman Clive Palmer has continued his aggressive real estate acquisition spree and is expanding further into Western Australia, leasing corporate headquarters in an office tower controlled by John Bond, son of the late entrepreneur Alan Bond.

Oil and gas heavyweight Woodside Petroleum is seeking an injunction against its landlord to prevent it from developing two new towers in front of its gleaming Perth headquarters.

Singapore-based Redhill Property Partners is sealing its purchase of Perth’s BGC Centre from the family of late tycoon Len Buckeridge for more than $100 million.

After an absence of nearly two decades, venerable international hotel brand The Ritz-Carlton is poised to return to Australia with the opening of its 100th international hotel.