Norwest purchase
ALTIS Property Partners has purchased the Norwest Quay building in Norwest Business Park at Bella Vista for $32.5 million. The 10,780-square-metre office building has been purchased on yield reflecting 10.7 per cent.
Planning documents lodged
NSW Transport Minister, Gladys Berejiklian, said planning documents have been lodged for an expanded train stabling and maintenance facility located at the end of the North West Rail Link. The expanded facility will be housed between Tallawong Road, Schofields Road and First Ponds Creek and is expected support more than 300 new jobs, including mechanics, technicians, cleaners, electrical engineers, fitters and administration staff.
Forum on health issues
A HEALTH Industry Forum was held in Penrith to discuss practical ways to ensure the city has people with the right skills over the coming decade in order to position Penrith as one of Sydney’s future health and education hubs. To address the challenge, the Penrith Business Alliance in partnership with the Penrith Schools Industry Partnership, TAFE WSI Nepean, Penrith City Council and the Australian Government Department of Education, Employment and Workplace Relations sponsored the forum.
Funds for at-risk youth
THE Property Industry Foundation (PIF) charity hopes to raise more than$300,000 from businesses to put towards a new PIF House in Western Sydney to help provide training and accommodation for homeless and at-risk youth.
Delegation to China
THE Penrith Business Alliance (PBA) is organising a business delegation to attend the second China International Import Expo, in Kunshan, in mid-May. PBA CEO, Bijai Kumar, said the delegation would promote developments currently underway and planned for Penrith, and attracting capital. Another objective was to investigate opportunities for intergovernmental projects between Penrith and the Kunshan government to further strengthen the business relationship between the two cities.
Heart of strategy
"WESTERN Sydney is at the heart of our economic strategy to drive growth and prosperity for the city," Planning Minister Brad Hazzard said. The state government wants 50 per cent of new jobs to be created in the west by 2031, with minimum targets of 20,000 new jobs in Parramatta, Penrith and Liverpool by 2021, 4,000 jobs in Blacktown and Bankstown, 2,000 in Castle Hill and 5,000 jobs in Campbelltown/Macarthur.
Companies seek tender
THE contract to operate the Moorebank Intermodal Terminal is being sought by major Australian companies and international transport operations. The terminal is expected to generate as much as $10 billion in economic benefits. Major targets in LEP MAJOR targets for the next 20 years included in the government-gazette 2013 Holroyd Local Environment Plan (LEP are: 14,700 additional new dwellings, 85 per cent of new dwellings in strategic growth centres, 5,000 new jobs in Merrylands, 80 per cent of residential zones/areas remain low density, environmental protections zones increased to 55 hectares, public recreation areas increased to 340 hectares, 8 expanded business centre zones and increased bulky goods retail lands.
Facility sold for $3.8m
RIVERWOOD Investment Holdings has purchased a 4700-square-metre industrial facility at 12 Larkin Street, Riverwood for $3.8 million.
Most available space
THE market with the most available industrial space is the outer west with 394,720 square metres of vacancies; according to the Knight Frank Sydney Industrial Vacancy April 2013 report. However it is noted that a quarter of this amount consists of secondary space at Yennora Distribution Centre. With the vast majority of speculative activity concentrated in the outer west, 61 per cent of outer west prime vacancies consist of either completed speculative stock or speculative stock under construction.
Largest fall in vacancies
IN the south west, prime vacancies remain dominated by a large 37,564 square-metre sub-lease, which accounts for 70 per cent of prime vacancies The region recorded the largest fall in vacancies during the April quarter with a 17,430 square metres fall in vacant stock, according to the Knight Frank Sydney Industrial Vacancy April 2013 report.
Leased for $2 million
CARPET maker, Interface Australia, has leased 24,000 square metres at Airds Road, Minto, to consolidate activities previously performed at Picton and Eastern Creek. Interface has leased the space for 15 years at $2 million annually. More jobs by 2026 COUNCIL’S own research “conservatively” estimates that the Parramatta CBD will need to accommodate approximately an extra 50,000 jobs and Westmead, at least another 11,000 jobs by 2036.
Economic modelling figures
PARRAMATTA City Council’s economic modelling shows, the 13 Wanderers home-games held between October 2012 and March 2013 generated a $7.4 million dollar increase in Parramatta’s GRP. Of the majority of local businesses surveyed, an “astounding” 89 per cent reported an increase in business during Wanderers home-games, council said. ABC to open an office ABC News will open a bureau in Parramatta and is seeking a video journalist and a producer/researcher.
$170m project starts soon
WORK is expected to start soon on the demolition of the former David Jones store, in Church Street, for Meriton Apartments’ $170 million project, which includes four levels of basement car parking accommodating 597 car spaces; a 3-storey podium comprised of residential and commercial lobby areas; 8 retail tenancies; a 1928-square-metre supermarket; a 705-square-metrem childcare centre; 9 maisonette apartments fronting the Parramatta River; resident recreational facilities; a 22-storey tower containing 170 serviced apartments and a 32-storey tower containing 211 residential apartments.
Funding for program
THE NSW government has announced funding of $40,000 for the Riverside Theatres’ Beyond the Square Program, a dedicated performing arts initiative for people with a disability.
DA for wine bar
COUNCIL is assessing a DA, lodged by the Aysha Family Trust, for internal alterations to an existing tenancy, at 70 Macquarie Street, in the CBD, to create two tenancies including their use as a coffee roasting facility and wine bar. Estimated cost: $77,000.
Green ban on heritage site
THE building union, CFMEU, has placed a green ban on Parramatta’s historic Female Factory until the state government, which will decide the future of the site, has undertaken a master plan on a heritage/cultural precinct in, and including, the heritage-listed site.
