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Perth CBD Investment Office Sale



A property between 905 and 919 Hay Street in Perth, which includes a 14 level, 13,360 square metre office building, as well as three heritage listed buildings, has reportedly been sold for $67.8 million to Redhill Partners. The building was leased by Chevron until April last year and since then has been vacant. For more information regarding the office market please contact Gavin Chapman

What is new in the Perth Healthcare Property Sector?



An 80-bed Medihotel is planned as part of the first stage of the
Murdoch Health and Knowledge
Precinct. According to the WA State Government, the Medihotel is due for completion in early 2023.
The facility will provide medical and nursing support for up to 4,500 patients per year who have
been discharged from hospital, but who are not yet ready to return home. For more information on
the Healthcare Property Sector in WA, contact Paul McLaren

Tourism Council of WA - Latest Industry Survey




The survey has found that ‘One in five WA tourism businesses face closure or major job losses due to border uncertainty if JobKeeper expires at the end of March’; and that there have been ‘mass cancellations from interstate guests since Christmas due to border uncertainty, and forward bookings are down 35 per cent’. For more information regarding the tourism and tourism accommodation market please contact Blake Smith

What is the current housing value in Perth?



Perth home values remained stable in the month of August 2020 (month-on-month), according to CoreLogic’s Home Value Index. The index fell 0.4% nationally. The median value for houses in Perth was $461,891, and for units* $350,394. (*residential properties which are on a strata title).For more information on residential property values, contact Richard Hagon

Extension to the Federal Government’s Homebuilder Scheme in WA


The national HomeBuilder scheme has been extended by a further three months in WA from the date of signing a contract to commencement of building. Premier Mark McGowan has used the WA State Government’s discretionary authority to give homebuyers six months to start work rather than the original three months. For more information on regarding the residential housing market, contact Richard Hagon

Slide

Perth CBD Investment Office Sale


A property between 905 and 919 Hay Street in Perth, which includes a 14 level, 13,360 square metre office building, as well as three heritage listed buildings, has reportedly been sold for $67.8 million to Redhill Partners. The building was leased by Chevron until April last year and since then has been vacant. For more information regarding the office market please contact Gavin Chapman

Slide

Tourism Council of WA - Latest Industry Survey


The survey has found that ‘One in five WA tourism businesses face closure or major job losses due to border uncertainty if JobKeeper expires at the end of March’; and that there have been ‘mass cancellations from interstate guests since Christmas due to border uncertainty, and forward bookings are down 35 per cent’. For more information regarding the tourism and tourism accommodation market please contact Blake Smith

Slide

Extension to the Federal Government’s Homebuilder Scheme in WA


The national HomeBuilder scheme has been extended by a further three months in WA from the date of signing a contract to commencement of building. Premier Mark McGowan has used the WA State Government’s discretionary authority to give homebuyers six months to start work rather than the original three months. For more information on regarding the residential housing market, contact contact Richard Hagon

Perth CBD Investment Office Sale



A property between 905 and 919 Hay Street in Perth, which includes a 14 level, 13,360 square metre office building, as well as three heritage listed buildings, has reportedly been sold for $67.8 million to Redhill Partners. The building was leased by Chevron until April last year and since then has been vacant. For more information regarding the office market please contact Gavin Chapman

Perth CBD Investment Office Sale



A property between 905 and 919 Hay Street in Perth, which includes a 14 level, 13,360 square metre office building, as well as three heritage listed buildings, has reportedly been sold for $67.8 million to Redhill Partners. The building was leased by Chevron until April last year and since then has been vacant. For more information regarding the office market please contact Gavin Chapman

Tourism Council of WA - Latest Industry Survey



The survey has found that ‘One in five WA tourism businesses face closure or major job losses due to border uncertainty if JobKeeper expires at the end of March’; and that there have been ’mass cancellations from interstate guests since Christmas due to border uncertainty, and forward bookings are down 35 per cent’. For more information regarding the tourism and tourism accommodation market please contact Blake Smith

Tourism Council of WA - Latest Industry Survey



The survey has found that ‘One in five WA tourism businesses face closure or major job losses due to border uncertainty if JobKeeper expires at the end of March’; and that there have been ’mass cancellations from interstate guests since Christmas due to border uncertainty, and forward bookings are down 35 per cent’. For more information regarding the tourism and tourism accommodation market please contact Blake Smith

Extension to the Federal Government’s Homebuilder Scheme in WA


The national HomeBuilder scheme has been extended by a further three months in WA from the date of signing a contract to commencement of building. Premier Mark McGowan has used the WA State Government’s discretionary authority to give homebuyers six months to start work rather than the original three months. For more information on regarding the residential housing market, contact contact Richard Hagon

Slide

Perth CBD Investment Office Sale


A property between 905 and 919 Hay Street in Perth, which includes a 14 level, 13,360 square metre office building, as well as three heritage listed buildings, has reportedly been sold for $67.8 million to Redhill Partners. The building was leased by Chevron until April last year and since then has been vacant. For more information regarding the office market please contact Gavin Chapman

Slide

Tourism Council of WA - Latest Industry Survey


The survey has found that ‘One in five WA tourism businesses face closure or major job losses due to border uncertainty if JobKeeper expires at the end of March’; and that there have been ’mass cancellations from interstate guests since Christmas due to border uncertainty, and forward bookings are down 35 per cent’. For more information regarding the tourism and tourism accommodation market please contact Blake Smith

Slide

Extension to the Federal Government’s Homebuilder Scheme in WA


The national HomeBuilder scheme has been extended by a further three months in WA from the date of signing a contract to commencement of building. Premier Mark McGowan has used the WA State Government’s discretionary authority to give homebuyers six months to start work rather than the original three months. For more information on regarding the residential housing market, contact contact Richard Hagon

NEWS AND RESEARCH

Annual Rating & Land Tax Assessment July 2020 - PVA WA
It’s that time of year again! As a property owner, you would have recently received your annual rating and taxing notice for 2020/2021.It is worth reviewing the determined value of your property (either Gross Rental Value (GRV) or Unimproved Value (UV)) to ensure you’re not overpaying relative to other property owners in the same area.

Superannuation Audit Alert - August 2020 - PVAWA
According to a recent media release, Self Managed Superannuation Fund (SMSF) auditors will need to check closely that assets in SMSF portfolios are held at market value for the 2020 tax year. Due to the effects of COVID-19, property asset classes either have been affected or could expect to be affected by the pandemic, while others will be more resilient.

While the Perth CBD market in general remains subdued, Premium grade buildings continue to perform well, with positive demand and fewer vacancies. The longer term impacts of COVID-19 on the Perth CBD office market are, as yet, unclear, and will depend on the effectiveness of Government stimulus packages and containment of the virus.

DIRECTOR IN FOCUS

Gavin Chapman

Managing Director
Licensed Valuer Number 435
gavin.chapman@pvawa.com.au

Gavin has over 35 years of experience in the property industry as a valuer and property consultant, with a broad range of experience across most market sectors. He specialises in the commercial, industrial and compensation markets, and provides valuation, advisory and transactional advice to a range of clients including financiers, accountants, developers, property trusts, private corporations and government agencies. Gavin has held positions as a director and national board member of related companies over the past 20 years.

Significant Assignments

  • Jandakot City Industrial Estate and Jandakot Airport
  • Blackwoods Canning Vale
  • Downer EDI Canning Vale
  • Treasury Office Tower Perth
  • 190 St Georges Terrace Perth
  • 45 St Georges Terrace Perth
  • ATO Northbridge
  • Perth Darwin National Highway compensation matters