Thursday, 8 October 2009

Parramatta. Study overlooked the city

The Minister for Planning, Kristina Keneally, said a study of prime office space in Sydney and Melbourne was not a fair comparison of the two cities because other business centres in Sydney, such as North Sydney, Macquarie Park or Parramatta, were not measured. The CB Richard Ellis study said opportunities existed, and were cheaper, for prime office space development in the Melbourne CBD, which would pass 2.25 million square metres by January, marginally exceeding that in the Sydney CBD. ''To compare Sydney's CBD to Melbourne's CBD is like comparing apples and sultanas,'' Kristina Keneally said in the Sydney Morning Herald. The City of Sydney's Central Sydney Capacity Study says there is enough capacity to accommodate commercial development for up to 15 years.


Richmond. Hotel on the market

The freehold of the Royal Hotel, in Richmond, is for sale by auction on November 5, with vacant possession. Situated on a 1780-square-metre site, opposite the railway station and shops, the property has 19 poker machines. The sale is through KnighFrank.