Region. Centres on the market

Centro has launched and off-market process to dispose of half stakes in its Roselands (61,471 square metres) and Bankstown (85,738 square metres) centres in a $450 million play, according to The Australian Financial Review. The two centres hold dominant-trading positions in densely populated Western Sydney markets, with keen tenant support and each has further development potential. The total book value of Bankstown is $557 million and $329 million for Roselands.

Bankstown. 'Big piece of real estate'

A development project exists for Centro’s Bankstown shopping centre, according to the company’s CEO, Steven Sewell. “The property is a very big piece of real estate in a fantastic location. It’s got an extraordinary high spend for speciality retailers. It has enormous traffic – about 16 million people each year go through the property,” he said.

Region. Car parks and lifts

The Transport Minister, Gladys Berejiklian, said construction will start on nine new car parks and transport interchanges at CityRail stations in the next two years. Part of the $170 million project will include car parks and other infrastructure such as lifts and toilets at Granville, Padstow and Canley Vale.

Region. 47 per cent of the region

The gross regional product (GRP) of the West Central subregion, which encompasses Parramatta.Auburn, Bankstown, Fairfield and Holroyd, is estimated at around $40 million, according to a document commissioned by Parramatta City Council. This represents approximately 47 per cent of the Western Sydney GRP of $85 million.