Wednesday, 17 September 2008

Region. Bulk of new supply goes west

CBRE’s recent Sydney Industrial Market View reports 384,000 square metres of industrial construction was completed in the first half of the year, with a further 740,000 square metres under construction and due to be completed by year-end. Some 70 per cent of the new supply is slated for the areas such as Eastern Creek and Erskine Park. Over the past five years, floor space in this precinct has increased by a factor of nine as the M7 and other surrounding infrastructure has taken shape, according to CBRE’s research manager, Luke Nixon.


Region. Submissions on new freight line

The Australian Rail Track Corporation (ARTC) has called for public submissions on its Community Amenity Offset Plan, as required by the Australian Government’s approval of the Southern Sydney Freight Line (SSFL), which involves building a 36 kilometre dedicated freight line from Macarthur to Sefton. The ARTC is presently undertaking works to improve the efficiency and cost-effectiveness of rail freight services along the North-South Rail Corridor between Melbourne, Sydney and Brisbane. A major bottleneck in the network exists in southern Sydney, where freight trains share existing rail lines with the Sydney metropolitan passenger services operated by RailCorp. Submissions close on October 10.


Homebush. Major competitor for Macquarie Park

Homebush is likely to be one of Macquarie Park/North Ryde’s major competitors for tenants seeking campus-style accommodation over the medium to long-term, given that geographically constrained Rhodes market has limited scope for further development, and Norwest, which has development capacity for approximately a further 200,000 square metres of commercial space and is anticipated to be fully developed over the next five to eight years, according to Knight Frank.