South West. Development activity

Sydney’s south west is preparing for an onslaught of development activity estimated to be worth more than $1 billion on completion. Two sites at Potts Hill Business Park and East Leppington are undergoing significant redevelopment. Investors are working on financing packages to be part of the projects. Sydney Water's 116-hectare Potts Hill Business Park is attracting attention for industrial property investors. Stockland is in the first stage of a master-planned community of more than 3000 affordable homes within the East Leppington precinct, according to The Sydney Morning Herald.

North Ryde. Fast growing precinct

Macquarie Park continues to be one of Sydney’s fastest growing commercial precincts according to CBRE’s latest Sydney Metropolitan MarketView report, which. anticipates Macquarie Park could potentially witness the construction of approximately 500,000sqm of office stock over the next ten years. However, CBRE global research and consulting analyst, Alex Bedrossian, said project timelines would be heavily influenced by tenant pre-commitments and economic factors.

Eastern Creek. Approval for extension

The Department of Planning has approved an application by the Australian Racing Drivers Club to construct an extension to the existing race track at Eastern Creek, creating two linked but potentially independent circuits, associated second pit lane and a building incorporating six off pit garages, public amenities and race control room. Estimated cost:$8.1 million

Parramatta. Continuing partnership

Parramatta Lord Mayor, Lorraine Wearne, is looking forward to a continuing partnership with the state government following positive talks with the NSW Premier, Barry O’Farrell. The pair met to discuss the future role of Parramatta and how it could best serve the wider growth of Sydney as part of the government’s long-term NSW 2021 strategy. “Key to the future growth of our state is Sydney’s west - and Parramatta as the gateway to this wider region will play a vital role in the provision of employment, social and recreational options,” Mr O’Farrell said.