Arson charge for Perth property developer

A Perth property developer has been released on bail after facing court over allegations he helped torch an industrial building in the city's southeast, causing $10 million worth of damage.

Hossean Pourzand, 63, was charged with criminal damage by fire on Tuesday over the March 14 blaze at the Welshpool warehouse and factory, a week after a 31-year-old man was accused of the same offence.

Pourzand, who once jointly owned Raine Square with high-profile property developer Luke Saraceni before it was seized by receivers, will appear in the Stirling Gardens Magistrates Court next week.