August 2014
$164 million expansion
QUEENSLAND Investment Corporation’s $164 million application for stage 1 alterations and additions at Castle Towers has DA approval from council but awaits determination by the Joint Regional Planning Panel.
Private tenant leases site
AIR conditioner supplier Holyoak Industries has leased out a 1937-square-metre industrial property, in Bessemer Street, Blacktown, to a private tenant for a gross rental of $90 per square metre.
Centre sold for $50 million
FORT Street Real Estate Capital’s Property Opportunities Fund has acquired the 7923-square-metre Windsor Riverview Shopping Centre for $50 million. The centre, anchored by Coles, has 29 specialty shops, plus a278-square-metre development site.
Department sells 10,150sm
THE Department of Planning has sold 10,150 square metres of freehold vacant industrial land, in Lamb Street, Glendenning, to AGGN Investment, for $1.69 million.
Hotel to get $4m upgrade
ROUSE Hill’s Mean Fiddler Hotel is set to get a $4 million revamp in a bid to improve its image and appeal to a more mature clientele. The project is expected to be completed in time for the NRL Grand Final on the October long weekend.
Three outlets merge
BUILDING supplies company, Texo, has consolidated its Smeaton Grange, Kingsgrove and Punchbowl outlets into one warehouse at Prestons. The company employs 20 staff.
Boom in apartments
BANKSTOWN City Council is assessing residential developments valued at more than $120 million. The population is expected to increase by 11,000 by 2022, with mainly young adults and families attracted to the medium and high density housing in the city.
Company secures warehouse
PROCTOR Glass Industries has secured a 1023-square-metre warehouse, in Edgar Street, Condell Park, at a gross annual rental of $131.43 a square metre for four years..
No funding for job
THE federal government has axed funding for the local employment co-ordinator in the highly jobless hotspot of Bankstown. A Department of Employment spokesman said the previous government funded a national program only until June 30 this year. The spokesman said New Job Services Australia employment services contracts from July 1 next year would “improve employment outcomes” for job seekers.
UWS considering options
LIVERPOOL City Council’s Economic Development Committee has been advised that the University of Western Sydney was progressing with UWS senior management discussing options to lease a site in the city.
Stockland outlays $72.5 m
STOCKLAND has acquired a 28-hectare industrial property adjacent to the Southern Sydney Freight Line at Ingleburn, for $722.5 million, which is expected to benefit from future infrastructure development in the area including the Moorebank Intermodal Terminal and the Badgerys’s Creek airport.
Construction in last quarter
THE anticipated construction of 1PSQ Parramatta, an A-Grade, 14-level, 26,000-square-metre commercial tower, is expected to commence in the last quarter 2014, with an anticipated completion date in the last quarter 2016. The building is part of Parramatta City Council’s $1.6 billion Parramatta Square project
First stage opened
AMP Capital Shopping Centres has opened the first stage of a $440 million revamp on the Macquarie Centre, in North Ryde. It includes more than 37 food and specialty retailers, 29 of which are new to Macquarie Centre. The second stage ie expected to be completed in time for Christmas.
New faculty at university
MACQUARIE University has established the Faculty of Medicine and Health Sciences. The university already boasts Australia’s only high-technology private hospital owned and operated by a university and a postgraduate medical research and teaching school.
2,300 new homes
WENTWORTH Point’s re-zoning from an underutilised industrial area into a new residential hub will deliver 2300 new homes in Sydney.The precinct’s revitalisation includes upgrades to Bennelong Parkway and Hill Road including direct access to the M4 Motorway and Westconnex and improved connection to the Parramatta River ferry services by upgrading the Sydney Olympic Park Ferry Wharf.
$10.4m cash donation
PROFESSOR of obstetrics and gynecology, Brian Trudinger, at the University of Sydney, has given the institution a $10.4 million cash donation, plus ownership of his private business, the Westmead Fertility Centre, one of Sydney’s major fertilely clinics
Portfolio totals $6 billion
THE City of Parramatta has a property and development portfolio totaling $6 billion od existing assets and future development projects, centred around the $1.6 billion activities of Parramatta Square.
