Tuesday, 14 February 2012

Epping. Town centre works

Parramatta City Council has committed about $900k to the rejuvenation works to the Epping Town Centre, which will commence this week aimed at improving accessibility and public amenity. The work expected to be completed by the end of September 2012.


Macquarie Park Optus switches printers

Optus, based at Macquarie Park, is believed to be on the verge of signing with Stream Solutions for its $10 million print management contract, previously held by Blue Star IQ. Details remain scarce, with Optus refusing to comment, and Stream Solutions general manager Clive Steele saying he was unable to comment due to a confidentiality agreement.

However, credible industry sources have told ProPrint that Stream has won all of the telco giant's consumer graphic design and print work in a deal valued at almost $10 million per year – though contracts are yet to be signed. The contract would consolidate the telecom company's print at Stream,


Wetherill Park. Into administration

Bedding chain Sleep City, at Wetherill Park, has been placed in administration amid a continuing downturn in the retail market. PricewaterhouseCoopers (PwC) has been appointed voluntary administrator of parent company Furniture and Bedding Concepts Ltd and four other related entities. PwC partners Michael Fung, Greg Hall and Guy Edwards say they had taken control of the 64-store chain, which has about 450 employees.

In its most recent accounts, for the year ending June 30, 2010, Sleep City declared a loss of $25 million, a net asset deficiency of more than $55 million and a debt to a related party of more than $52 million. The company said it was economically dependent on its parent, Chinese company Sunbridge Industrial Group, which had provided it with a letter promising continued financial support.


North Ryde,. Hunt fore site

Stamford Land Corporation, Australasia’s largest independent owner-operator of hotels, and property developer, is on the hunt in North Ryde as it advances plans to redevelop its existing hotel, the Stamford North Ryde, into a 625-apartment complex.