Region. Strata units flood the market

Strata industrial units, usually between 200 and 250 square metres, have flooded the market in areas such as Bankstown, Regents Park, Revesby Auburn, Granville and Kingsgrove, according to The Australian Financial Review. The areas are among the more than $250 million worth of such units in south-west and western Sydney where price growth has stalled. “It’s a horrible market at the moment,” said LJ Hooker’s Paul Byron.

Bankstown. $211 million investment

Sydney Water and Landcom propose to redevelop the 76-hectare site at Potts Hill Reservoirs, consisting of 15.3 hectares for employment land /business park for Sydney Water, NSW Police and energy providers; residential development for up to 450 dwellings; and open space/parkland and conservation area. The proposal represents a $211 million capital investment value. Landcom is also seeking State significant site listing for part of the site.

Bankstown. Sydney Water proposal

The NSW Department has on exhibition from Sydney Water a proposal for the construction of anew facility, including a combination of office, warehouse and storage buildings, with an indicative gross floor area of about 11,000 square metres, at its Potts Hill Reservoirs site.

Sydney Olympic Park. OK for Supercars study

The NSW Government has given the go-ahead for the final feasibility study for a three-day V8 Supercars race, on a 3.48-kilometre street circuit, at Sydney Olympic Park, from 2009 for an initial period of five years. It would add an estimated $100 million to $110 million to the NSW economy and create up to 110 full-time jobs. The Sydney Olympic Park Authority is believed to be concerned with the ambience of the park being destroyed by the event, according to “The Daily Telegraph”.