Mission to Thailand
The Asia Business Connection, part of the Parramatta-based Western Sydney Business Connection, has called for expressions of interest (EOI) in a mission to Thailand to attend the 2012 BOI Fair Bangkok, from 16-22 January. The BOI Fair is dedicated to developing business opportunities between Thailand and other countries. The event is the opportunity to explore serious business opportunities in the country recognised as the hub of Asia. EOIs close on December 2.
Another Young Tall Poppy
Associate Professor Hilary Bambrick, from the University of Western Sydney's School of Medicine, has been named a 2011 Young Tall Poppy. She specialises in the health implications of climate change and has been recognised for her outstanding research and her ability to communicate the complexities of science to a broad audience. UWS is now home to four Young Tall Poppies. The Young Tall Poppies campaign, run by the Australian Institute of Policy and Science, recognises young researchers, in the early stages of their careers, already making discoveries.
New operations centre
Parramatta City Council has approved a business case for the construction of a new operations centre, at Rydalmere, subject to approval of the Department of Local Government. Council resolved to approve the preparation for disposal of 1A Morton Street, Parramatta, and 42 Bridge Road, Rydalmere.
12 storey project
Parramatta City Council is considering an application, lodged by Vince Bilotta, for the construction of a 12 storey mixed use development with 88 dwellings, at 184 George Street, Parramatta. Estimated cost of work: $18.6 million.
DA for 19-storey tower
Developer, Eureka 2 Project 10 Pty Ltd, has lodged an application with Parramatta City Council for the construction of a 19-storey mixed use development comprising retail commercial space at ground level and 265 residential apartments above over basement carparking and strata subdivision, at 109-113 George Street, Parramatta. The estimated cost of the work: $76.8 million. The initial DA, lodged in September 2008, was for a 14 storey commercial office tower comprising 2 basement carparking levels, ground floor cafe and up to 6 retail tenancies. Council is considering an application directly opposite, at 184 George Street, for the construction of a 12-storey mixed use development with 88 dwellings.
Centre of education
Developing Parramatta as a centre of education excellence in health sciences, and the re-engineering of Parramatta River to link employment precincts via water transport, were just some ideas that flourished at an IBM Innovation Discovery Workshop held in Parramatta recently. Parramatta City Council, in partnership with IBM, hosted the two-day workshop, which offered over 100 key stakeholders from business, health, technology and education sectors to explore ideas for digital and social innovation in the city.
Economic pay-off
Parramatta City Council put $500,000 – matched by the state government – into the 10-day Sydney Festival activities, in Parramatta, in January. Lord Mayor Lorraine Warne expects a good economic pay-off for the city and hopes it will help build its nascent events calendar that includes the south east Asian arts festival, Parramasala, currently underway, New Year's Eve and Australia Day festivities and a winter ice festival called Winterlight.
EOI called for
Sydney Ports has called for expressions of interest for businesses to register their interest in five warehouse sites in the 60-hectare state-of-the-art facilities in Western Sydney, the Enfield Intermodal Logistics Centre. The facility will cater for buildings from 5000 square meters to 20,000 square meters. Upon completion the centre will provide dedicated rail freight for Port Botany. Hutchison Port Holdings will operate the centre.
Distribution centre
Woolworths plans a new distribution centre in Western Sydney which will employ 350 people, part of the 10,000 new jobs to be created this financial year in Australia and New Zealand. The group plans to grow its total number of stores by 117, compared to 73 in financial year 2011.
Top economist at forum
Economist Chris Richardson, director, of Deloitte Access Economics, was guest speaker at the Parramasala Business Forum, in Parramatta, today. He spoke on the Rise of South Asia and the implications for Western Sydney. A panel comprised Patricia Forysthe, executive director, of the Sydney Business Chamber, Neville Roach, advisory board chairman, of Tata Consultancy Services and Professor Peter Shergold, Chancellor, of Western Sydney University. Deloitte presented the forum.
Deals done
Reflex Equip has leased 1840 square metres of industrial space, at 47 Frank Street, Wetherill Park, from Hultex Holdings for a 3-year term at an approximate rent of $95 per square metre. An undisclosed private investor has purchased a 2534 square metre office/warehouse, at 6-7 Bushells Road, Wetherill Park from Altendorf for $3.75 million.
Funding for research
Over $6 million in funding has been given to Macquarie University research projects in the latest round of grants from the Australian Research Council (ARC). A total of 29 projects will receive ARC funding from 2012, encompassing areas such as astronomy, Indigenous education and climate reconstructions.
First for Sydney
Macquarie University is planning to become the first Sydney university to adopt the controversial ‘‘Bologna model’’ and restructure its degrees, it announced yesterday. One element of the model is to replace the one-year honours degree with a two-year masters degree which the university said was more in line with institutions in North America, Europe and China.
Opposition to disposal
Penrith City Council will write to Premier Barry O’Farrell stating its unanimous opposition to the dumping of any hazardous waste at Kemps Creek, “We have also sought an urgent report on the terminology used to ensure there is no confusion or semantics about the terms ‘hazardous’ versus ‘radioactive’,” Mayor Greg Davies said.
Funds needed for projects
A CBRE report on the impact of transport infrastructure on industrial property has identified a number of major projects in Western Sydney, which require approval in readiness for funding through the proposed infrastructure bonds: the Southern Sydney Rail Freight line, the Intermodal Logistics Centre, at Enfield, the Moorebank Intermodal Freight, the Eastern Park Link Road, the widening of the M5 and the links from the M4 to the City Westlink The NSW Government has decided to offer bonds to raise capital specifically for infrastructure.
$610m purchase completed
The Brisbane-based Super Retail Group has finalised its $610 million purchase of sports good retailer Rebel Group, at Silverwater, and appointed a former Rebel manager, Erica Berchtold, to drive growth in the business. Ms Berchtold, currently a manager at Specialty Fashion Group, and will join Super Retail on November 7, has over 15 years of experience in the retail industry, and was general manager of merchandise with Rebel between 2003 and 2007.
Industrial stock and vacancy
The highest level of industrial vacancy is in the Outer West, however, the pending commencement of several leases is forecast to see the vacancy in this precinct contract as at January 2012,according to Knight Frank’s Quarterly Industrial Market report Outer West, vacancy 285,430 square metres, vacancy rate 42 per cent, average A-grade net rental $110 per square metre; South West 153,117 square metres, vacancy rate 22 per cent, average A-grade net rental $96 per square metre, Central West 206,383 square metres, vacancy rate 30 per cent, average A-grade net rental $113 per square metre.
Stock and vacancy rate
Colliers Sydney Metropolitan Office report for the second half 2011 has identified to the office stock and vacancy rate in Western Sydney’s five major office markets: North Ryde/Macquarie Park, 807,527 square meters, 9.8 per cent; Parramatta, 685,171 square meters, 9.3 per cent; Norwest, 323,864 square meters, 15.3 per cent; Rhodes, 141,467 square meters, 2.0 per cent; Sydney Olympic Park/Homebush Bay, 101,261 square meters, 0.7 per cent.