Tuesday, 19 June 2012

Blue Mountains. Zig Zag railway to close

The historic Zig Zag railway near Lithgow has closed after failing to address a large number of safety deficiencies. The Transport Minister, Gladys Berejiklian, announced that the tourist attraction would ''cease passenger operations until further notice''. It followed an earlier probe by the Independent Transport Safety Regulator which found more than 150 safety management problems and that the Zig Zag had struggled to maintain its rolling stock


Region. Nationals call for airport

The NSW Nationals will consider whether to back a second Sydney airport at the party's annual conference this weekend, potentially placing it at odds with the state government over the issue. Two branches, Dubbo and Parkes, have put up a motion calling on the federal Nationals to ''support the immediate commencement of planning for the building of a second airport in the Cumberland Basin''. The motion also calls on the federal party to support construction of ''an integrated high speed transport system linking [Kingsford Smith Airport] with the new international airport''.


Chullora. Printing facility to close

Fairfax Media said it would close printing facilities at Chullora in Sydney and Tullamarine in Melbourne by June 2014, as part of its restructuring, saving $44 million annually.. Fairfax said the plants "have significant surplus capacity which is no longer required". The company bought the property in 17 years ago when the Herald printed 400 pages on a Saturday, whereas today the number of pages in half that. Approximately 210 people work at Chullora.


Sydney Olympic Park. Half stake in complex

A fund run by Colonial First State Global Asset Management is to offer a half stake in a $160 million office complex in Sydney Olympic Park. The property comprises two adjoining seven-storey buildings of 32,318 square metres of office space and 1838 square metres of retail space, almost entirely occupied by the Commonwealth Bank of Australia.

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Erskine Park. Property sold for $28 million.

DEXUS Property Group has sold a 21,000-square-metre warehouse, at Erskine Park. to Singapore’s GIC Real Estate for $28 million.