Wednesday, 22 June 2011

Region. Speculative projects

A CB Richard Ellis review highlights that close to 29,000 square metres of Western Sydney industrial space has been leased in two separate transactions which are expected to bring forward speculative development projects. The larger of the recent lease deals involves specialist furniture importer, Matt Blatt, which has relocated its Australian headquarters from Marrickville to Regents Park Estate after striking a 14,567 square metre lease agreement. Mail and logistics services business, Quantium Solutions, at Riverwood, has committed to five-year lease at Smithfield. CBRE’s Shaun Timbrell said the deals highlighted a growing trend for South Sydney tenants to make the shift west.


Castle Hill. Property hotspot

Castle Hill is set to be a property hotspot following the NSW government’s green light for the North West Rail Link. Raine & Horne Castle Hill principal, Damien Hickey, said proximity to the North West Rail Link was set to become a major consideration for homebuyers who commute daily to the Sydney CBD. Mr Hickey warned that proper planning was essential, and urged the state government to continue to consider parking and carriage capacity for commuters intending to use the new rail service.


Parramatta. Hovercraft on the river

Gary Aston, MD, of Melbourne-based, Maria Hovercraft, said hovercraft vessels would be ideal on Sydney Harbour and up the Parramatta River. “Parramatta River is the best venue for a hovercraft – you don’t have to any dredging,” he said. Sydney entrepreneur, Ian Brookfield, claimed he could have more than six hovercraft on the water by Christmas, according to a Daily Telegraph report. The state government is moving to privatise Sydney Ferries.