Thursday, 2 August 2012

Region. Office vacancy rates

Vacancy rates in Parramatta and North Ryde are the lowest in four years, according to the Property Council of Australia’s report for the six months to July. Parramatta’s vacancy rate declined to 8.7 per cent from 9.1 per cent. A- and B- grade offices in Parramatta were tightly held by tenants, but C- and D- grade had vacancy rates above 15 per cent. Office vacancy rates in North Ryde fell to 6.7 per cent from 8.2 per cent. “Macquarie Park, Sydney’s next major CBD, was a surprise. Solid take-up, with tenants moving in from the north shore, Frenchs Forest and Gladesville, has almost halved the vacancy rate in three years,” The Australian Financial Review said.


Penrith. Council wins top award

Penrith City Council has won the Sydney Water sponsored, Keep Australia Beautiful NSW Overall Sustainable Council Award for 2012 for its environmental plan, Sustainable Penrith – Working Towards a Sustainable City. “I am extremely pleased to be recognising the work of Penrith City Council, which is home to more than 180,000 people, with significant population growth expected in the future Penrith City Council actively promotes the local economy, implements a range of environmental protection and waste management initiatives and encourages a sense of personal responsibility among residents and their efforts have achieved whole-community results, said the Minister for Environment & Heritage, Robyn Parker.


Sydney Olympic Park. Carnival atmosphere

More than two kilometres of temporary fencing will be erected around ANZ Stadium to create a carnival precinct during the NRL grand final week The project is being created through a partnership between the NRL, ANZ Stadium and the NSW Government “This carnival precinct will give fans attending the Grand Final a game-day experience unlike anything ever before,” said ARL Commission Interim Chief Executive, Mr Shane Mattiske. The 2012 NRL Telstra Premiership Grand Final will kick-off at 5pm on Sunday, September 30, at ANZ Stadium, Sydney Olympic Park.

Labels: ,

Region. Witchery sold for $172 million

Country Road will pay $172 million for Witchery, its subsequent retail brands, and Mimco. There are five Witchery stores and one Mimco outlet in Western Sydney. Ian Moir, chairman of Country Road, said the acquisition creates one of Australia's largest speciality fashion retailers.


Parramatta. Premier at Rosehill

Premier, Barry O’Farrell, is expected to outline the timetable for the government’s projects critical to Western Sydney, at the Parramatta-based Western Sydney Business Connection’s (WSBC) State of the Region address at Rosehill Gardens, on Friday, August 17. The Western Sydney business community faces challenges in a growing market in need of clear and decisive leadership in directing investment in key infrastructure and services”,” said WSBC president, Whitney Rousham.


Liverpool. Survey of retail space

A floorspace survey indicates that the Liverpool local government area (LGA) currently supplies some 377,000 square metres (GLA) of shop front retail and commercial floorspace, according to a retail study prepared for council by Hill PDA. The Liverpool City Centre accounts for over 161,000 square metres (or 43 per cent) of shop front floorspace. The three bulky goods clusters at Crossroads, Orange Grove and Warwick Farm account for 123,000 square metres (or 33 per cent) of floorspace. Around 120,600 square metres of additional retail space is proposed in the LGA over the next 30 years. Around 29 per cent of this (35,000 square metres) would be accommodated within the city centre.


Epping. Objection to plan

Parramatta Lord Mayor, Lorraine Wearne, has accused the NSW government of “steathly” going about drafting a development plan for the Epping town centre as part of the North West Rail Link. With no community consultation, no proper planning or urban design, the yet to be publicly released plan proposes building heights up to 27 storeys and capacity for over 4300 new homes along the Epping rail corridor, she said.