Riverbank draft strategy on exhibition

Parramatta City Council has on exhibition the draft urban design strategy for the future development of the Riverbank block, bounded by the Parramatta River and Church, Phillip and Smith streets, in the CBD. Council, which has been approached by property owners with development options, owns property valued at $71.2 million within the block. According to the City Centre LEP the Riverbank block is Zone B3 Mixed Use. Buildings up to 80 metres are permitted; the FSR is 6:1

Granville industrial site sold for $12.1 million

ING Industrial Fund has sol a 3.8-hectare site, at Granville, to a private owner-occupier, for $12.1 million. ING bought the site from Australand in April 2003 doe $8.8 million plus costs, and leased it back to Australand for five years

$200 million data centre at Norwest

Thakral Holdings subsidiary, Technical Real Estate, has a DA approval to build a $200 million data centre, at Norwest Business Park, on a property which it bought for $17.4 million in October. The facility will comprise three buildings. Construction is expected to commence this month with completion in the first quarter of 2009.

CBRE buys two mortgage valuation firms

Real estate agency, CB Rickard Ellis has acquired Russell & Fairfax, of Telopea, and E F Hoskin & Associates, of Campbelltown, as the first two Sydney mortgage valuation companies as part of a nationwide expansion into the industry. The 25 staff in the two offices will be retained.