Monday, 30 January 2012

Region. Best rental returns

Homes in Sydney’s outer west are delivering the best rental returns to investors. Suburbs in the Blacktown and Penrith regions are among those in big demand, with vacancy rates lower than the Sydney average, according to RP Data figures. Convenience and affordability were pulling young renters to Penrith and Blacktown, said Douglas Driscol, of Starr Partners, in the Sun Herald.


Parramatta. Proposal to sell site

Parramatta City Council has put out a request for proposal for the sale and development of the council-owned 0.5-hectare Lennox Bridge Carpark, behind Church Street, between Phillip Street and the Parramatta River.

The development opportunity, facing the Parramatta River, consists of a premier residential development on the site expected to exceed 24,000 square metres GFA, and the design and construction of public infrastructure (council works) in the form of a 3500-square-metre “discovery centre”, multi-function spaces, associated retail and public domain together with related infrastructure associated with such works and works all to be owned by council.

“This opportunity, is unique and one of kind, which will set new urban benchmarks for residential development,” council said.


Moorebank. Proposal to Canberra

SIMTA – consisting of Stockland, QR National and Qube Logistics – lodge an environmental referral of its proposed fright hub, at Moorebank, to the federal government. The general manager of Stockland, Stephen Bull said SIMTA would also lodge its environmental assessment to the NSW government before the end of this month to be placed on public exhibition.


Parramatta.Project withdrawn

The application to construct a 21-storey residential development containing 49 apartments and four levels of underground parking, at 64 Phillip Street, in the Parramatta CBD, has been withdrawn by Wallaroo Properties Pty Ltd The property comprises Barnaby’s restaurant.


Region. Tomatoes in parkland

The NSW Government has granted a lease for a $24 million glasshouse project to Bennelong Holdings Pty Ltd, on 16 hectares of Western Sydney Parklands, to grow tomatoes. The project would create 110 full time jobs and 6.5 million kilograms of truss tomatoes. Bennelong Holdings executive director, James Hamilton, said the project was the first in a series of national large-scale urban glasshouse developments being planned by the company.


Parramatta. New Landcom chairman

Former NSW Liberal leader, John Brogden, has been named chairman of the state land development body, Landcom, based in the Parramatta CBD. Hi appointment follows the resignation of incumbent, William Kirky-Jones, after 15 years as chairman. Landcom deputy chairman, Neil Bird, is retiring also.

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Region. EOI on board position

The NSW Government has called for expression of interest for a non-executive director on the Western Sydney Parklands Trust Board and its audit and risk committee. The parklands run is a 27-kilometre corridor along the M4 and M7 motorways and between the north- and south-west land release areas and the Western Sydney Employment Hub through Blacktown, Fairfield and Liverpool.