Life expectancy increasing but super won't last the distance
CLUB Plus Super is urging Australians to budget for their retirement in light of modelling that suggests the average retiree may be forced to rely on the Age Pension after only six years of retirement.
Mayor calls on PM to end airport frustration
HILLS Mayor, Dr Michelle Byrne has called on Prime Minister Tony Abbott to make a decision about a second Sydney airport and “get Sydney moving.”
Regional Round-up February 2014
Soudis buys site
SOUDIS Australia has bought a vacant 1038-square-metre industrial site, in Prince William Drive, Seven Hills, for $1.7 million
Stockland buys centre
STOCKLAND has bought the 60,000-square-metre Forrester Distribution Centre in St Marys, for $72.85 million from Goodman Australia Industrial Fund. The property has three warehouses on a 12-hectare site leased to ACI.
River a catalyst
THE Nepean River will be used as a catalyst to revitalise the Penrith CBD and the life of the city over a 20-year period. An initiative will be the creation of a “gateway” from the CBD to the river – Penrith station is some 700 metres and a brisk walk away with no visible connection to the river.
$500 million to economy
THE $120 million Wet ‘n’ Wild Sydney, which opened in December, has created hundreds of jobs. The water park is expected to generate in excess of $500 million in economic activity over the next 10 years for the local economy.
Property sold for $2 million
ETHERN Holdings has sold a 1643-square-metre industrial property, in Dupas Street, Smithfield, for $2 million to a private investor.
Sokol Furniture lease space
Design Furniture
SOKOL Design Furniture has leased a 1682-square-metre showroom, at 59Steane Street, Fairfield at an approximate net rent of $64 per square metre
Council commitment
LIVERPOOL City Council is committed to working with the business community in its endeavours to attract investment to the city. As part of the process, council is revising its planning instruments and process to better respond to current market trends and expectations, according to a council report.
$1 million grant
QUICKSTEP Holdings Limited, manufacturer of high-grade carbon-fibre composite components, at Bankstown Airport has been awarded a $1 million grant, through the Department of Defence’s New Air Combat Capability Industry Support Program, to finance qualification of the Quickstep Process for manufacturing F-35Lightning II Joint Strike Fighter vertical tail spars, which provide stabilisation for aircraft in flight.
Aveo sells industrial land
AVEO Group, the renamed FKP Property, has sold 7.8 hectares of industrial land, at Hepher Road, Campbelltown, for $6.5 million.
11-storey hotel
LIVERPOOL City Council is considering submissions regarding the construction of an 11-storey hotel and alterations to the existing hotel, at the Liverpool Catholic Club, on Hoxton Park Road, Prestons. The Sydney West Joint Regional Planning Panel is the determining authority.
Chinese deal worth $58m
CHINESE developer, Fuxing Huiya Real Estate Co has bought a 49,240-square-mertre site, in Morton Street, Parramatta, for $58 million, from Frasers Australia. A masterplan has approval for 774 apartments. Frasers bought the former business park for $21.5 million in 2006.
Shopping centre sold
FEDERATION Centres has bought Carlingford CVourt shopping centre for about $175 million from GPT Group/
Sold for $15.8 million
FORTIUS Funds Management has purchased a 5635-square-metre office building, at 91 Phillip Street, Parramatta, for $15.8 million from the Reserve Bank OfficesSuperannuation Fund.
$19m Masters store
PARRAMATTA City Council has approved the construction of a Masters outlet, in Redbank Road, Northmead. Estimated cost of construction: $19 million.
Church becomes bridal shop
TOLISH Pty Ltd has Parramatta City Council approval to occupy a former church, on the corner of Church and Palmer streets, in the CBD, as a bridal shop
River strategy
PARRAMATTA City Council is considering quotations for the development of a Parramatta City River Strategy, for the public domain and the Parramatta River in the CBD, between Rings Bridge, in O’Connell Street, and Gasworks Bridge, in Harris Street
DHA project wins
DEFENCE Housing Australia’s (DHA) AE2 residential development on a 21.3-hectare site on the Parramatta River, at Ermington, has won Urban Development Institute Australia’s EnviroDevelopment certification. The development will house 700 residents.