WA Commercial Property News

Perth’s much-maligned office market is just months away from turning the corner, analysts say, with the vacancy rate expected to peak later this year.

Large format retail is coming to Perth Airport, with Vicinity Centres to develop a Direct Factory Outlets complex on airport land.

The factory that kept Western Australia supplied with Smith’s potato chips for the past three decades is to be sold just months after it shut down.

It’s been years since a Bunnings Warehouse was put up for sale in Western Australia, so it’s no surprise that investors came from the clouds when one hit the market north of Perth.

Perth’s office market is already seeing more action this year than in all of 2015, in a positive sign for the city’s maligned commercial prospects.

The ranks of heavyweight investors pursuing Perth office towers are swelling, with a Singapore fund edging closer to buying a CBD building for about $84 million. This article originally appeared on theaustralian.com.au/property.

Doomsday predictions for Perth’s commercial property market should be a cause for optimism, not panic, one of WA’s senior office market directors says.

The Insurance Commission of Western Australia has accepted an offer of just over $300 million for its retail property assets.

It’s on the mainland but is only accessible by plane or boat. One of Australia’s most unique hotels is up for sale.