Region. $400 million land bank

Diversified property group GPT aims to lift the weighting of business park and logistics property in its portfolio from 11 per cent to 15 percent. The portfolio would be expanded by acquiring individual properties and completing $400 million worth of developments on existing land banks at Erskine Park, Sydney Olympic Park and Somerston in Victoria.

North West. Six firms express interest

Six local and international companies have expressed interest in building 15.5 kilometres of tunnelling for the $8.5 billion North West Rail Link. China Rail 15th Bureau Group Australia, a company controlled by the state-owned China Railway Construction Corporation, is among the contenders. The official calling of tenders will be called in October. The contract will be awarded in the second half of 2013, according to The Australian Financial Review.

Region. Leadership required

The Daily Telegraph says leadership is required to save what remains of manufacturing jobs in Western Sydney. “If we don’t pay attention to our manufacturing base in Western Sydney, we face watching it fade away … with real commitment from industry and government, Sydney’s west can be a smart and skilled manufacturing centre in the competitive global economy,” said Tim Ayres. He said good, skilled trades jobs in manufacturing industries with a future are critical to the economic success of the region.

North Ryde. Shopping centre loses sales

Macquarie Centre, at North Ryde, jointly owned by Westfield and AMP, has lost 16 per cent of its trade in the past four years, and is among the worst performing shopping centres in Australia, according to Shopping Centre News. The Australian Financial Review said the owners have “no binding arrangements” regarding resolution of the issue. Earlier reports indicated that Westfield may become the sole owner.

Region. Decentralisation of offices

An Urban Taskforce Australia report proposed that an audit be conducted of state government staff who work in the Sydney CBD to determine how many come from Western Sydney. To further the decentralisation of offices, the report proposed the federal government should examine decentralisation options to the region

Region. Special Economic Zone

An Urban Taskforce Australia report noted that Western Sydney has perceived disadvantages as a business location due to its distance from the Sydney CBB and its lack of critical infrastructure. The region is also seen as being the location for industrial activities and back-of-house jobs to the higher order jobs. The report proposed that the region be declared as a Special Economic Zone, where special initiatives are offered to businesses located in the area, and that the federal government’s Suburban Jobs program be expanded to support jobs in the region.

Region. Positive brand needed

A Future Directions Western Sydney 2030 prepared by ARUP for the Wetsern Sydney Regional Organisation of Councils (WSROC) said the negative identity of the region remained a barrier to economic investment and community development. The report suggested a more positive brand identity was required to attract investment and to address inequity and the bias toward lower paid and lower skilled jobs.