Major approval by the DOP
Major developments approved by the Department of Planning in August include: a $182 million employment site on the former Hoxton Park Aerodrome delivering 1400 construction jobs and up to 1135 ongoing positions; a $60 million regional distribution park of warehouses, distribution centres and logistics facilities, to be located in the Western Sydney Employment Area near the junction of the M4 and M7.
Property sold for $12.75 million
A private Western Australia-based investor has purchased at auction an office and warehouse facility, on a 2.9-hectare site at Wetherill Park, for $12.75 million. The property, formerly owned by Stateland Developments, now in external administration The property containing the head office of Thorn Lighting is leased until until October 2017.
Macquarie University plans to sell at least $200 million worth of 10-year notes in its inaugural bond sale. The ANZ and Commonwealth banks are managing the sale of notes for the university. The bond sale will be the first by a university in Australia since the University of Wollongong issued $42.5 million of inflation-linked notes in 2008.
Major approvals by the DOP
Major developments approved by the Department of Planning in August include: a $182 million employment site on the former Hoxton Park Aerodrome delivering 1400 construction jobs and up to 1135 ongoing positions; a $60 million regional distribution park of warehouses, distribution centres and logistics facilities, to be located in the Western Sydney Employment Area near the junction of the M4 and M7;
The rejuvenation of the former Channel 7 site at Epping to begin with approval given for site preparation works for the construction of a childcare facility and communal residential facilities; and the continuing revitalisation of Homebush Bay, with a new $129 million residential project to deliver up to 573 new dwellings at Wentworth Point (Homebush Bay).
RDA Sydney seeks manager
RDA Sydney is seeking applications for a marketing, communications and project manager. RDA Sydney, based in Parramatta, is a partnership between the Australian and NSW Governments with the aim of providing advice to government on the strategic approach to development across the metropolitan area and to help guide its economic growth.
$7 million refurbishment
Charter Hall has completed a $7 million warehouse expansion and refurbishment of a 21,000-square-metre facility, at Chullora, in Sydney’s central west, including the latest technology required by logistics operators.
Industrial market picking up
The south-western Sydney industrial market has shown signs of picking up, with demand for premises to buy and lease increasing, and owners able to reduce incentives needed to lure tenants. Prime-grade rents ranged from $95 per square metre to $110 per square metre, whereas in Botany rents were around $135 per square metre.
Tourism gold
Gold awards were made to the following in the Greater Sydney Tourism Awards: Penrith Valley Visitor Information Centre in the tourism services category; Featherdale Wildlife Park, at Doonside, for best tourist attraction in Sydney; Hawkesbury Harvest won the Greater Sydney Champion Award; the Golden Slipper Festival 2010 won the festivals and events category; Hawkesbury Regional Museum for heritage and culture; Travel 2153, TAFE Western Sydney Institute for tourism training and education; Graeme Dube of Connex West and the Sydney Visitor Guide the outstanding contribution by an individual category, and the Golden Slipper Festival 2010 as the people’s choice. These winners become finalists in the NSW Tourism Awards to be held at Rosehill Gardens Racecourse on November 19.
Boost for Acer Arena
The Acer Arena, at Sydney Olympic Park, would be the beneficiary should the Sydney Business Chamber succeed in its call for the demolition of the Sydney Entertainment Centre to allow for an expansion of the exhibition and convention space, at Darling Harbour. Demolition of the Entertainment Centre would leave the 15,000-seat Acer Arena as Sydney's only large indoor concert venue.
New CEO for TVS
Rachel Bentley, UWS media lecturer and associate head of the school of communication arts, has been appointed the new CEO of TVS, a not for profit community television channel broadcasting from the university’s Penrith campus. Harold Mitchell, head of Mitchell Communication Group, is the new chairman of TVS. Mr Mitchell has been a non-executive director on the board of TVS. Geoffrey Roberson, of Champion Legal, in Parramatta, was the former chairman.
Question over LOOP service
Parramatta City Council will review the operation of its free LOOP bus service around the CBD at the end of the current contract with the view to continuing it only if substantial sponsorship or NSW government suppoprt can be obtained through grants of an infrastructure rate change.
Focus on commercial investment
A major project in Parramatta City Council’s economic development activities in the 2009/10 financial year was the completion of the $521,335 discoverparramatta.com website. This is now being managed and updated by the marketing and communications team, with the economic development team to refocus more closely on commercial investment attraction and monitoring the growth of the city. Council will also consider the reinstatement of an economic development board in 2010/11.
Query over future
One billion dollars worth of development projects have been completed at Sydney Olympic Park since 2000 but private sector developers are still uncertain about the precinct’s future. In spite of the significant development which has taken place, and more in the pipeline, the park has failed to shake its white elephant image according to several developers.
Councils and liabilities
Liverpool and Penrith councils have been named in a Department of Local Government report as having insufficient funds readily available to pay for the goods and services they use.
Fall in tourist numbers
Tourism Research Australia figures show the number of trips to the Blue Mountains is down by almost half since 1999, when 1.1 million were recorded. Between 2008 and 2009, the number of trips, including an overnight stay, fell from 687,000 to 563,000 - an 18 per cent drop.
Consul general at centre opening
Kumho Tyres has officially opened its $10 million distribution centre at Glendenning after relocating from Girraween. The 5000-square-metre purpose-built centre will hold up to 100,000 tyres and dispatch more than five truckloads a day to retailers around Australia. Jin Soo Kim, Consul-General for the Korean Republic, attended the opening.
Company expands at airport
Bankstown Airport Limited (BAL) has finalised discussions with Aeromil Pacific Pty Ltd to expand its activities at the airport. The expansion of Aeromil Pacific’s aviation operations will provide significantly increased capacity with hangar space of 3000 square metres a dedicated apron area for aircraft parking. The company is expected to commence expanded operations in the last quarter of 2010.
Dexus buys $23.5m property
Dexus Wholesale Property Fund has bought a property tenanted by Colgate Palmolive, at Ingleburn, for $23.5 million. The property, which includes a 25,807-square-metre warehouse used by the company as a storage and distribution centre, was bought off-market.
Custom Coaches win tender
Custom Coaches, at Villawood, and Bus and Coach International, in Western Australia, have been awarded the tender to build and trial fuel-efficient prototype EcoBusesfor use on Sydney’s bus network. A twelve-month trial in Sydney will commence in early 2011, said the Minister for Transport, John Robertson.
New CIO for Sydney Water
Sydney Water, headquarted in Parramatta, has appointed Chris Ford as its new chief information officer (CIO). Mr Ford was previously information technology director and CIO for Nottingham City Council in the UK, and prior to that he spent 12 years with Severn Trent Water in a number of IT roles. He commences his new role in mid September 2010.
New GM for council
Robert Greenwood, who has worked at the Blue Mountains City Council since 1986, has been appointed general manager of the local government authority
Hotel sold for $24 million
The six-storey Courtyard by Marriot, in Anderson Street in the Parramatta CBD, has been sold to an offshore group for a little more than $24 million. Bridgecorp, a failed New Zealand company, previously owned the 151-room hotel. Jones Lang La Salle Hotels sold it on behalf of liquidators, Deloitte.
New team at council
Parramatta City Council is establishing a new property development team to roll out projects worth over $2.5 billion on a “large pipeline of development sites … and working to build a growing investment portfolio for the city”. The first project is the $1.5 billion Civic Place redevelopment. Council has advertised for a development manager, assistant development manager and a development analyst.
Company saved from closure
Intercast & Forge's automotive foundry, at Seven Hills, has commenced trading as Broens Autocast & Forge, after having been acquired by the Broens Group, at Ingleburn. The acquisition prevented the closure of Australia's only privately owned high-volume automotive products foundry, with 140 employees
300 applications for project
Over 300 applications have been received for Meriton’s latest release, the Epping Park project on the former Seven Network site, with the majority looking to purchase apartments under the $600,000 threshold.
Church as licensed premises
The former St Peter’s Uniting Church, on the corner of Church and Palmer streets, in the Parramatta CBD, is for lease, with a total licensed area of approximately 800 square metres. Southern Cross Enterprises Group had proposed, a two-stage DA in 2008, to refurbish the heritage-listed church as a bar and restaurant and build a 4.5-star, 50-room hotel, on a hall at the rear of the church. Parramatta City Council refused stage 2 for the 13-level project.
Hotel to be rebranded
The Singapore-based Pan Pacific Hotels Group, owner of the 196-room Crowne Plaza Parramatta, in the Parramatta CBD, will rebrand the hotel as the Parkroyal Parramatta, in November. Pan Pacific owns and/or manages more than 30 hotels, resorts and serviced suites with over 10,000 rooms in Asia and North America under the Pan Pacific and Parkroyal brands.
New UWS teaching hospital
The Bankstown-Lidcombe Hospital has become a teaching hospital of University of Western Sydney medical students, who will join UWS nursing students who are already receiving clinical experience at the hospital
Company for sale
KordaMentha has been appointed as receivers to the largest national contract cleaning and security business, the Melbourne-based Reflections Group, which has its NSW office in Castle Hill. Its clients include Centro, Westfield, Mirvac Stockland and GPT Group. The business has annual revenues of $150 million and approximately 3000 employees.
34 hectares for sale at airport
Receiver KordaMentha, through Colliers International, has moved to sell 34 hectares, at Bankstown Airport, that was held in a venture between Mirvac Group, Leighton Holdings and Perth-based superannuation fund, Westscheme.
ResMed reports results
ResMed Ltd, at Bella Vista in Norwest, founded in Sydney in 1989 with theprimary purpose to commercialise a device for treating obstructive sleep apnea, and now headquartered in San Diego, California, reported revenue of $US1.1 billion for the year ended June 30, 2010. Income from operations was $US240.4 million and net income was $US190.1 million, an increase of 26 per cent and 30 per cent respectively, compared to the year ended June 30, 2009.
Upgrade of The Octagon
PFA Diversified Property Trust and Westlawn Property Trust, co-owners of The Octagon building in the Parramatta CBD, have completed a $7.8 million major refurbishment of the office building, opened in 1990.
WSMN visit to FIP Brakes
FIP Brakes, at Wetherill Park, hosted a site visit by members of the Parramatta-based Western Sydney Manufacturers Network (WSMN). Members recently visited and reviewed logistics and operations at the News Limited’s $400 million-plus Chullora facility. The visit and roundtable was supported by Cumberland Courier Newspapers, a sponsor and member of the Western Sydney Business Connection. WSMN aims to be an effective network and voice for manufacturers in Western Sydney, to promote the region as a manufacturing centre and preferred place for investment.
More rooms for UWS students
Students’ residences at the UWS Campbelltown campus have more than doubled to 320 rooms. At the Penrith campus, the upgrade to the Penrith Residential College has allowed for the creation of 109 additional rooms. UWS Residential Colleges provides a total of 1179 rooms across five UWS campuses at Campbelltown, Bankstown, Hawkesbury, Penrith and Nirimba Education Precinct at Blacktown. In the past 10 years over 6000 UWS students have lived on-campus at UWS.
North Ryde. Mirvac completes acquisition
The Mirvac Group has completed the acquisition of the remaining half interest in the North Ryde Office Trust, which owns the Westpac Data Centre, in Macquarie Park. Mirvac acquired the initial stake in the fund through its recent acquisition of the Westpac Office Trust, according The Australian Financial Review.
No direct ferry service
Parramatta City Council’s campaign for a direct ferry service for inner-west commuters to Parramatta has received token acknowledgement from State Ferries, with one service, in a proposed timetable, arriving at the Charles Street wharf at 6.55am. No direct evening service is scheduled.
North Ryde. First in Australia
Macquarie University’s Applied Finance Centre, which will deliver training courses for members of the global Certified Financial Analyst Institute, will be the first in Australia to provide continuing education for certified analysts.
Office vacancy rate increases
The office vacancy rate in the Parramatta CBD increased to 10.7 per cent for the six months to July, up from 9.8 per cent in January and 9.5 per cent in July 2009. The July figure was the highest in four years, according to the Property Council of Australia.
$24.5m for 43,000sqm site
Australia’s largest automotive retailer, the West Perth-based Automotive Holdings Group, has bought a 43,000-square-metre property, at the intersection of Victoria Avenue and Windsor Road, Castle Hill, for $24.5 million, to be developed into a multiple dealership site, similar to those Western Australia.
$950,000 for a CBD penthouse
The Besgate Group’s 28-level residential project, to be built at 114-124 Church Street, includes six three-bedroom penthouses in a price range up to $950,000. The 80-unit project, promoted as “the tallest residential building in Parramatta”, is centrally located the CBD’s Chinatown precinct and close to Westfields.
Uni wins Green Globe award
Macquarie University’s commitment to the environment has been recognised when it received a NSW Government Green Globe Award, which are the leading environmental awards in NSW. They showcase outstanding achievement in the sustainable use of natural resources in NSW and leadership in tackling climate change issues. The university won the Public Sector Award for 2010.
Ark Corporation wins export award
Ark Corporation, supplier of a wide range of products including tow and hitch supplies, lights and lamps, and power battery boxes, based in Arndell Park, won the award for Best Marine Industry Export Performance in 2009 (Small Exporter).NSW, in the 2010 Australian Marine Industry Export Awards.