Parramatta. Hotel sold for $24 million

The six-storey Courtyard by Marriot, in Anderson Street in the Parramatta CBD, has been sold to an offshore group for a little more than $24 million. Bridgecorp, a failed New Zealand company, previously owned the 151-room hotel. Jones Lang La Salle Hotels sold it on behalf of liquidators, Deloitte.

Parramatta. New team at council

Parramatta City Council is establishing a new property development team to roll out projects worth over $2.5 billion on a “large pipeline of development sites … and working to build a growing investment portfolio for the city”. The first project is the $1.5 billion Civic Place redevelopment. Council has advertised for a development manager, assistant development manager and a development analyst.

Seven Hills. Company saved from closure

Intercast & Forge's automotive foundry, at Seven Hills, has commenced trading as Broens Autocast & Forge, after having been acquired by the Broens Group, at Ingleburn. The acquisition prevented the closure of Australia's only privately owned high-volume automotive products foundry, with 140 employees.

Kings Park. Noni-B's $3.9 million profit

The women's fashion retailer Noni-B, at Kings Park, has posted a better-than-expected full-year net profit of $3.9 million, without the aggressive discounting that sank the earnings of many in the retail sector last year. MD, David Kindl, said the result, which was against earlier guidance of $3.4 million to $3.8 million, reflected success in trimming costs while maintaining customer loyalty

Epping. 300 applications for residential project

Over 300 applications have been received for Meriton’s latest release, the Epping Park project on the former Seven Network site, with the majority looking to purchase apartments under the $600,000 threshold, said sales manager, James Sialepis. The Australian understands Meriton has lodged an application with the NSW Department of Planning to amend the original development approval for 650 apartments to 800.