Ryde. Valad negotiating ownership

Valad Property Group is negotiating with the banking syndicate and owner of Top Ryde Shopping Centre about the future financing and ownership of the property, which will include 280 speciality retail spaces, 11,500 square metres of commercial space and up to 450 apartments when complete. Valad has invested $60 million into the centre through a second mortgage. One potential buyer, the GPT Group, is no longer interested said The Australian Financial Review.

Region. RDA Sydney seeks manager

RDA Sydney is seeking applications for a marketing, communications and project manager. RDA Sydney, based in Parramatta, is a partnership between the Australian and NSW Governments with the aim of providing advice to government on the strategic approach to development across the metropolitan area and to help guide its economic growth.

North Ryde. Supply low, demand good

LandMark White expects little supply to enter the North Ryde office market over the next five years “Those supply projects which will come into the market are likely to be fully committed or at least 80 per cent leased by the completion of the project … speculative supply additions are a thing of the past,” according to the company’s latest report. Demand prospects are good with the opportunity for expansion by existing businesses and the flow into North Ryde by supporting businesses, the report said.

Chullora. $7 million refurbishment

Charter Hall has completed a $7 million warehouse expansion and refurbishment of a 21,000-square-metre facility, at Chullora, in Sydney’s central west, including the latest technology required by logistics operators. Paul Ford, fund manager for Charter Hall’s wholesale fund, Core Plus Industrial Fund said there had been an increase in demand for large, highly-efficient, generic warehouse accommodation in the region, with very little corresponding supply.

South-West. Industrial market picking up

The south-western Sydney industrial market has shown signs of picking up, with demand for premises to buy and lease increasing, and owners able to reduce incentives needed to lure tenants, according to the Sydney Morning Herald. Prime-grade rents ranged from $95 per square metre to $110 per square metre, whereas in Botany rents were around $135 per square metre. Jeff Pond, of Link Property Services, said the region, a traditional manufacturing location, was changing to warehousing and distribution. “There will be a push in the south-west from companies competing in south Sydney who are being pushed out of that location because of high land values,” he said.

Newington. Expansion overseas

Australian poker machine manufacturer, Ainsworth Game Technology, at Newington, intends to continue expansion of activities in the Americas to capitalise on its product initiatives while progressing necessary product approvals in newly licensed markets. Particular focus will be given to the establishment of an operating presence within Nevada, the foremost gaming market of North America, following the granting of a licence in this key jurisdiction. The company has offices around the world.

Region. Tourism gold

Gold awards were made to the following in the Greater Sydney Tourism Awards: Penrith Valley Visitor Information Centre in the tourism services category; Featherdale Wildlife Park, at Doonside, for best tourist attraction in Sydney; Hawkesbury Harvest won the Greater Sydney Champion Award; the Golden Slipper Festival 2010 won the festivals and events category; Hawkesbury Regional Museum for heritage and culture; Travel 2153, TAFE Western Sydney Institute for tourism training and education; Graeme Dube of Connex West and the Sydney Visitor Guide the outstanding contribution by an individual category, and the Golden Slipper Festival 2010 as the people’s choice. These winners become finalists in the NSW Tourism Awards to be held at Rosehill Gardens Racecourse on November 19.