Thursday, 2 February 2012

Parramatta. Office vacancy rate

The vacancy rate in Parramatta decreased from 9.3 percent to 9.1 percent in the six months to January 2012, its lowest level since July 2008. The decrease was due solely to positive demand, with net absorption of 1,063 square metres in the past six months, according to the Property Council of Australia Market Report.

NSW executive director, Glenn Byres, said 25,050 square metres of space is scheduled to enter the Parramatta market in 2012, nothing is scheduled to come online in 2013, 3000 square metres of projects are planned to be completed from 2014 onwards, and 61,905 square metres of space is mooted.


Regioon. Hotels for sale

Half of the NLG Hotel Group’s hotel up for sale, through CBRE, are in Western Sydney: Eastwood Hotel, Mt Annan Club Hotel, Royal Hotel Granville, Campbelltown Club hotel, Doonside Hotel, El Cortez Hotel Canley Vale, Keighery Hotel Auburn, Leumeah Club Hotel, Oasis Hotel Bankstown and St Marys Hotel.

Six of a further 11 hotels leased from independent landlords in Western Sydney are for sale: Cabramatta Hotel, Wattle Grove Club Hotel, Royal Hotel Ryde, Cedars Tavern Mt Druitt, Lidcombe Hotel and Brewhouse Lalor Park.

Ermington. 190 jobs to go

Reckitt Benckiser, which has been making the products since 1963, will axe 190 manufacturing jobs at its Ermington factory. Its products, fly spray Mortein and disinfectant Dettol, will be made offshore from July. A sales force of 300 people will be retained. "Australia's geographical distance from other markets and our relatively small domestic market has made it increasingly difficult to embed our operations into these global arrangements," said. CEO, Lindsay Forrest.


Norwest. Relocation to business park

Holcim (Australia) Pty Ltd, a leading supplier of aggregates, concrete (readymix) and concrete pipe and products, will relocate its Parramatta and Penrith offices to Norwest Business Park. The company, which has leased 1500 square metres in the Vintage building, an A-grade building of 12,278 square metres, has taken a seven-lease at $260 a square metre. The company, which has its Australian head office at Chatswood, has a quarry at Marulan and a distribution centre at Rooty Hill.