Parramatta. Council's loss in the High Court

Property owners, R&R Fazzolari Pty Ltd and Mac's Pty Ltd, have won their appeal in High Court, stopping Parramatta City Council’s compulsory acquisition of properties, in Darcy Street, for its $1.4 billion Civic Place redevelopment. Council, which regarded the projects as the city’s number one challenge, will now seek NSW Government legislation to acquire the properties. Council CEO, Dr Robert Lang, said on ABC radio that it would be difficult to proceed without obtaining the properties.

Parramatta. Firm back in business

The Parramatta-based, family-owned, Wincrest Homes, has resumed construction after five weeks in voluntary liquidation, owning an estimated $12 million. Creditors approved a deed of company arrangement last month allowing more than 200 tradespeople and contractors to start work again. Wincrest CEO, Michael Caruana, said construction was underway on 103 homes while 90 were in pre-construction phase. The company was established in 1986.

Baulkham Hills. Administrators called in

A meeting of creditors of the failed Baulkham Hills building company, Westminster Homes, will be held today, after the 44-year-old company was placed in voluntary liquidation last month. The company has more than 100 homes under construction and a further 150 in the planning stage. The company’s website said Westminster Group began as Westminster Homes, in 1965, as a family orientated building company.

Rooty Hill. Production reduced again

OneSteel Limited, Australia’s second-largest steelmaker has announced a further reduction in production at its Rooty Hill and Laverton, Victoria, electric arc furnaces, by 15 per cent to 725.000 tonnes. In February, the company announced that it would reduce the level of EAF steel over the remainder of the 2009 financial year, leading to estimated steel made at the two facilities to 850,000 tonnes for the year. The company said the lower figure reflected its primary focus to bring inventory levels in line with demand under its “back to basics” response to the global financial crisis. The Sydney Morning Herald reported that 200 jobs would be axed.

Westmead. Rapidly growing job destination

Westmead, one of Australia’s largest health and medical precincts, is emerging as a world-class health, bio-technological and R&D centre, and is forecast to accommodate up to 25,000 jobs by 2031, according to a government-funded report. “The growth of health and medical facilities at Westmead may encourage spin-offs to the Parramatta CBD itself in such areas as health insurance and health administration’, The North-West and West-Central Sydney Employment Strategies, prepared by the Parramatta-based UWS Urban Research Centre for WSROC, and funded by the Department of Planning

Camden. AGL acquires Sydney Gas

AGL Energy Limited has completed the compulsory acquisition of the remaining shares in Sydney Gas Limited, a coal seam gas explorer at Camden, AGL’s $170 million offer went unconditional at the end of January.The Notice of Compulsory Acquisition was lodged with the Australian Securities and Investments Commission, February 25.