Epping. $55 million for Seven Network site

Meriton Apartments has paid $55 million for the Seven Network site, at Epping, with plans to build at least 650 units in a joint venture with the Rebel Property Group. Meriton has also previously investigated the acquisition of the residential component of John Beville's $1.1 billion Top Ryde mixed-use development. The project is expected to be bought by Crown International Holdings, according to The Australian.

Region. Crown's interest in the region

Crown International Group has begun marketing its $110 million Sanctum development, at Rhodes, which includes 149 apartments in two buildings, on Homebush Bay, with apartments priced between $480,000 and $1.3m to be completed within 16 months. Chief executive, Iwan Sunito, said he expected demand to be stronger, at Rhodes, than for the Gallery twin-tower, $125 million, 246-apartment complex, in the Parramatta CBD. Crown has sold half of its $130 million Eko, 213-apartment project. in Newington. The group has also recently announced it had purchased a site on the corners of Hunter, Marsden and Macquarie streets, in the Parramatta CBD, for a $200 million development. Crown is believed to be buying the residential component of the $1.1 billion Top Ryde City Shopping Centre project, which includes 425 apartments, in five buildings, with an end value estimated to be about $300 million, according to The Australian. Crown recently sold a 173-square-metre penthouse with three bedrooms, two bathrooms and two car spaces, for $805,000, in its Gallery development. The penthouse is one of 12 in the complex.

Region. Event for young entreprenuers

The Minister for Small Business, Peter Primrose, is inviting young business owners, under 35, to attend a Young Entrepreneurs Round Table, at the University of Western Sydney’s Werrington campus. The half-day event on April 14, will be a forum for enthusiastic young business owners to share ideas and issues about setting up and running a business in NSW. The MC will be Jack Delosa, recognised as one of the top young entrepreneurs in Australia, at 'Anthills 30 under 30' Awards. The event, hosted by Industry & Investment NSW, is free. Contact: Caroline Allen. Email: youngbiz@business.nsw.gov.au

Campbelltown. No consultation on gas plant

AGL has proposed to build a gas plant, in Varroville, as part of the Northern Expansion of the Camden Gas Project. The state government could independently approve the gas plant under part 3A of the Environmental Planning and Assessment Act 1979 without consulting Campbelltown City Council, which has prepared a report rejecting the proposal and outlining the negative impact it would have on health. Former Planning minister, Kristina Keneally, independently approved Leafs Gully's gas-fired power station, in Appin Road, Gilead. Campbelltown, Camden and Wollondilly councils and local residents opposed the $200 million plant, concerned that the air emissions would omit carbon monoxide, carbon dioxide and nitrogen oxides into the region which is already under significant pressure from air pollution.

Parramatta. Sustainable business program

Businesses Camellia, Rosehill, Clyde, Granville, Rydalmere, Silverwater, Auburn and Lidcombe, within the Duck River Catchment, are invited to join the Streamline sustainable business program, a joint initiative between Parramatta and Auburn City Councils to empower local businesses to become environmentally and socially responsible. Businesses participating in the program will receive a free electricity walkthrough assessment, a tailored action plan; and the opportunity to apply for a rebate of up to $5000 for energy efficiency improvements.

Parramatta. Population increases.

Department of Planning (DOP) statistics show the inner Parramatta statistical area (SLA), including the CBD, to be fastest growing area in the city, with a population increasing from 42,400 in 2006 to a projected 64,100 people, up 51.2 per cent, in the 30-year period, 2006-2036. With regard to the CBD, Parramatta City Council, in its Integrated Transport Plan for the Parramatta City Centre, has estimated the CBD population to be 7000, in 2009, with the planned growth to 20,000, by 2031, up some 186 per cent. The DOP’s projection for Parramatta’s north-east SLA is an increase from 43,800 to 57,900, up 32.2 per cent, in the 2006-2036 period. For the north-west SLA, the projection is an increase from 35,000 to 41,500, up 18.6 per cent, and an increase from 32,800 to 37,900 people, up 15.5 per cent, in the south SLA, over the same 30-year period.

The Hills. Alive with sales and jobs

Total sales by local companies in the Sydney Hills has grown from $9.8 billion to $17.1 billion in three years, according to economic modelling figures compiled by Compelling Economics. Jobs have increased from 44,000 in 2007 to 51,000 local jobs in January 2010 and wages have increased from $2.4 billion to $4 billion. The largest contributors to the economy in the last three years have been property and business, and construction – with construction growing by a massive 230 per cent in that time. "Council's economic development team has this modelling and forecasting information available for local businesses to use, and can drill this data down to 109 sectors of the local economy," said Mayor Peter Dimbrowsky. The Hills has a GRP of $7.1 billion compared to Parramatta’s $14.2 billion.

Auburn. Objections to $59.7million project

The Westfield Group, AMP and the Shopping Centre Council of Australia have objected to the discount retail giant Costco’s proposed $59.7 million, 14,000-square-metre warehouse and retail store, on Parramatta Road, Auburn. The outlet would service an area which had a population of 1.31 million last year and would expand to 1.43 million by 2021. An economic impact report prepared by Essential Economics for Costco showed the store was likely to result in a 1.2 per cent reduction in turnover for stores within Costco’s trading area. Costco MD, Patrick Noone said in The Australian Financial Review the store would employ about 250 people and 75 regional office staff. He said a Department of Planning decision was expected within weeks. Costco initially proposed its first Sydney outlet along James Ruse Drive in the Parramatta local government area.