Rhodes. Nestle to stay

Global food and beverage group, Nestle, has signed a 10-year lease beginning in 2013, to keep its Oceania Regional headquarters at the Australand Property Group’s Rhodes Business Park. The deal, covering about 17,000 square metres, is one the largest new suburban leases in the country. The rent would be about $330 to $370 a square metre, according to The Australian Financial Review.

Camellia. API to recruit more franchises

Australian Pharmaceutical Industries (API), based at Camellia, expects to recruit more than 100 new franchises to join the company’s Priceline pharmacy network this year. Since 2004, the Priceline and Priceline Pharmacy network has grown to more than 300 stores.

Bankstown. More tha half affordable homes

Potential home buyers looking to avoid Sydney’s crippling property prices should start looking in the Bankstown local government Area, according to research by PRDnationwide, which found, based on homes worth $500,000 or less, that more than half of Sydney’s top 10 most affordable suburbs within a 20-kilometre radius of the Sydney CBD were situated in the Bankstown LGA, with Yagoona, Auburn and Chester Hill the cheapest. “The top 10 suburbs which recorded the highest house activity below $500,000 are supported by road transport links to the growing business centres of Parramatta and Bankstown,” said Oded Reuveni Etzioni, PRDnationwide NSW Research Analyst

Region. Top seven transport priorities

The Property Council of Australia nominates the following as the top seven transport priorities: Sydney Port Intermodal Freight Link developments, North West Rail Link – Epping to Rouse Hill, Light Rail extensions, Parramatta to Epping Rail Link, M4 East and supporting tunnel for a Botany connection, Western Express, City Relief Line and Harbour Rail Link and the F3 Freeway to Sydney Orbital (M2) connection

North Ryde. DOP considering $1 billion project

Minister for Planning, Tony Kelly said that plans for a $1 billion residential and commercial redevelopment around North Ryde station would be considered by the Department of Planning. If approved, the development would deliver more than 3000 new dwellings and over 50,000 square metres of retail/commercial floor space. The 14-hectare precinct is within the Macquarie Park Specialised Centre, which is designated in the Metropolitan Plan as a key centre for jobs and housing growth over the next 25 years. The plans include development of a number of buildings up to 30 storeys in height.

Parramatta. $24.6 million upgrade

The historic Old Kings School site in the Parramatta CBD, dating back to 1836, will undergo a $24.6 million makeover – preparing it to become a major arts and education precinct for Western Sydney. The Land and Property Management Authority has negotiated the sale of a part of the site to the adjoining owners, the Parramatta Diocese of the Catholic Church. The land sold to the church represents 12 per cent of the total site – a market value of $5.5 million – as determined by the independent Valuer-General. Proceeds from the sale will be directed to funding the arts precinct. The remainder of the site will be placed in the public reserve system and managed in accordance with the Crown Lands Act 1989. The redevelopment project will create 215 new construction jobs. Parramatta Lord Mayor, John Chedid, welcomed the state government’s decision.

Parramatta. New Metrobus services to CBD

Following the introduction of the Metrobus M91 service connecting Parramatta and Hurstville, in February, the Metrobus M60 service will commence between Parramatta and Hornsby, on March 7, and the Metrobus M92 service between Parramatta and Sutherland, on March 14