Thursday, 28 July 2011

Moorebank. Invetsa buys out partner

Investa Property Group has bought out its joint venture partner, Urbex, in the 1000-lot Georges Fair residential development, on the former Boral Brick quarry, at Moorebank. The project has an end value of $600 million.


Top Ryde. Unsecured creditors do a deal

Unsecured creditors to the collapsed company behind the $800 million Top Ryde City shopping centre, Bevillesta, have agreed to a deal giving them access to a pool of $2.5 million. The extent of unsecured claims is not yet known. Total claims run to around $900 million, according to minutes of the creditors’ meeting lodged with ASIC, the Australian Financial review reported.

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Region. Deals done

A private investor has bought the retail and medical Eastbrooke Centre building, at 286-290 Church Street, Parramatta, for $8.5 million from SDC Commercial. An undisclosed buyer has purchased a 7-Eleven outlet, on the corner of Cowpasture Road & Elizabeth Road, Edensor Park, for $3.35 million. Digital Realty Trust has purchased a 3.48-hectare site at Erskine Park, for approximately $10.7 million. The development site is earmarked for an 18,600-square-metre data centre. Sydney Water Corp has purchased 32 Bernera Road, Prestons, for $3 million. The 9036-square-metre site was purchased from Dosarp Pty Ltd. A private investor, Qstar, has paid $2.2 million for a service station, at Quakers Hill, from private investor, Wonosobo.


Bankstown. Study of robots

The University of Western Sydney has announced the opening of a state-of-the-art Robotics Lab to help researchers learn more about the emotional connection between Australians and interactive robots. The facility, based at the MARCS Auditory Laboratories, on the UWS Bankstown campus, combines academic rigour with the latest technology to investigate the future role of robots in our day-to-day lives.


Clyde. Refinery to close

Royal Dutch plans to convert its relatively small the Clyde Refinery and Gore Bay Terminal Clyde into a fuel import terminal by mid-2013, in an expected decision in lines with plans announced April. The final decision followed consultation with employees and their representatives, Shell said. The move will cut the number of local refineries from nine eight years ago to seven, with Shell saying the ageing Clyde refinery that supplies 40 per cent of NSW's petrol could not compete with giant, new Asian refineries. The refinery produces 75,000 barrel per day. Including contractors, up to 500 jobs are at risk, unions said. The company said between 30 and 50 people would be required to continue working at the site once it had been transformed into a fuel-importing terminal


North Ryde. Researchers in key role

Macquarie University researchers Professor Nicki Packer and Associate Professor Mark Molloy are among the researchers who will be playing key roles in a new $30 million dollar cancer care program announced by the NSW government. The researchers will partner with researchers from Sydney University's Kolling Institute of Medical Research, based at the Royal North Shore Hospital, to form the Northern Translational Cancer Research Unit. The researchers will share in around $1.7 million in funding over the next three years. Researchers within the unit are eligible to seek additional CINSW competitive funds to expand their research projects.