Wednesday, 2 March 2011

Region. Stores to close

The collapsed REDGroup – parent of Borders and Angus and Robertson book stores, both of which have outlets across Western Sydney – has debts of $118 million. It has stock worth $119.9 million and $6.4 million in cash. However staff are owed $7.8 million. Ferrier Hodgson's, Steve Sherman, said the first round of store closures would be decided upon early this week.


Top Ryde. Rights bought for $4.3 million

Crown Group Holdings has outlaid $4.3 million to purchase the rights to build 12,000 square metres of commercial office space above the Top Ryde shopping centre. The purchase brings the group’s development realisation in the precinct to about $500 million, according to The Australian Financial Review.


Region. Properties expected to fetch $100m

Jones Lang LaSalle is marketing a 59,828 square-metre industrial property, in Fairfield, and another 33,198-square metre industrial property, at Yennora. Which are expected to fetch around $100 million combined. Mark Griese, through the failed PacLib Group, is the vendor.