Region. Housing market picks up

After five years the housing market in Western Sydney is showing signs of life. Ray White Real Estate had a record January, in NSW, backed by a surge of sales in the region, according to The Weekend Australia Financial Review. Figures supplied by the Office of State revenue and Australian Property Monitors showed that of the top 20 postcodes, for first-homeowner’s grants, 14 were in Western Sydney,

Parramatta. Commercial auction in the CBD

Receivers and managers have been appointed for two freehold commercial buildings, at 22-24 Hunter Street, in the Parramatta CBD, which will be auctioned on March 5. .
One has approximately 998 square metres of lettable space and is fully leased except for one suite. The passing rent is $205,695 per year. The other has 1335 square metres of lettable space, with a passing rent of $87,755; potential rent is $400,000.

Blue Mountains. EOI for Skyway's business

Taylor Woodings, receivers and managers, is seeking expressions of interest for the purchase of the leasehold interest, business and assets of Pelsake Pty Ltd, trading as Skyway Restaurants, in Katoomba. The long-established restaurant and café business trades exclusively within the iconic Scenic World site on the edge of the escarpment overlooking the Jamison Valley and offers a range of experiences including the world's steepest railway, a spectacular cableway, a glass-floored skyway and a boardwalk through an ancient rain forest. EOI close on March 6.

Penrith. Sports academy relocates

The Western Sydney Academy of Sport, formerly at Parramatta Stadium, has relocated its administration premises to a new facility at Penrith CUA Stadium, where it intends growing its program and athlete numbers to provide even more quality development opportunities for local youngsters. “Penrith is identified as one of the regional centres in the State Government’s economic development plans (so) you want to be somewhere where business is pretty pro-active and when you look at Penrith, it is just made sense to come out here and capitalise on the opportunities,” Martin Bullock, CEO, of the academy, told the media

North Ryde. Economic climate affects Novogen

Australian pharmaceutical R&D company, Novogen, at North Ryde, has announced it would focus on its activities on its oncology program because raising capital for extended programs was difficult in the current economic climate. Novogen would rely on its internal resources to concentrate on the expanding oncology portfolio. Along with this decision, Novogen has taken several steps to reduce costs so that existing cash reserves are devoted to maintaining the significant potential on the oncology program. As it proceeds closer to commercialisation of its oncology R&D, and when financial market conditions become more favourable, Novogen would be in a better position to fund work on the remainder of its intellectual property.