Blacktown. $140 million investment

The Department of Planning has issued its requirements for the environmental assessment to be prepared for the redevelopment of the 17-hectare Parklea Markets site, to include a 12 storey, 336 room, 4.5 star hotel, an exhibition/convention centre and a growers market. The proposed development will have a capital investment value of around $140 million dollars and provide up to 1500 full-time employees to operate the development in any one year. The project,to be completed, in two stages, could take 3-5 years to complete. The applicant is Almona Pty Ltd, owned by Con Constantine. The Parklea Markets building is the largest indoor market in the southern hemisphere.

North-West. $140 million investment

The NSW government will hold a series of information sessions, in February, to discuss plans for a $140 million investment in new water, recycled water and wastewater infrastructure in Sydney’s North West. “Sydney Water will display an environmental assessment later this year and will give residents the opportunity to provide feedback on plans before construction begins in 2012,” said the Minister for Water, Phil Costa. The North West Growth Centre is expected to provide about 70,000 new homes over the next 30 years.

Region. Asian investors buy properties

CBRE associate director, Harry Bui, said its biggest auction result for 2010 was the acquisition of the Cabramatta City Centre for $18.1 million, at a tight initial yield of 5.7 per cent, by a private Asian syndicate in October. Another Asian investment syndicate acquired the Cecil Hills Shopping Centre for $10.8 million.

Region. NZ bid for Crane Group

New Zealand building products supplier, Fletcher Building has made an unsolicited takeover bid of $740 million for the Crane Group, which has facilities in Western Sydney Fletcher had indicated its interest in Crane earlier this year but had been rebuffed before launching yesterday's surprise offer. Crane has appointed UBS and Blake Dawson as its advisers and released a statement saying its board ''will meet as soon as possible to consider the offer'' and advised shareholders to ''take no action''. The deal is subject to regulatory approvals, including those of the Foreign Investment Review Board and Australian Competition and Consumer Commission.

Region. Local investors buy properties

A local private investor has acquired a fast food complex in Bonnyrigg for $1.8 million The complex totals 401 square metres over three fast food tenancies and is located at 749-751 Smithfield Road. A local private investor has acquired a prime commercial building in Fairfield for $1.425 million + GST. The two storey, freestanding building has a total site area of approximately 500 square metres and is located at 20-26 Ware Street.

Parramatta. DA for 20-storey building

Hassall Street Pty Ltd has lodge a DA with Parramatta City Council for the construction of a 20-storey commercial building containing ground floor retail tenancies over 2 levels of basement carparking, at 1a-3 Hassall Street, in the Parramatta CBD Estimated cost of work: $70 million.

Old Toongabbie. A $12 million investment

Baxter Healthcare, at Old Toongabbie, has launched it’s $12 million compounding facility, which replaces the current plant ensuring supply for the growing demand for compounded medications over the next decade. It will accommodate up to 150 pharmacy staff when at full capacity. The investment, which provides aseptic compounded drug therapy to 200 public and private hospitals across Australia produces over 650,000 patient specific doses per annum. Parramatta City Council has approved a DA for the construction of a 3 storey office building and landscaping works, provision of an additional 139 at-grade car parking spaces and land consolidation. The estimated cost of the work: $9.9 million.

Parramatta. CBD building sold for $1.45 million

An owner-occupier has bought a two-storey, free-standing building, with a net lettable area of 428 square metres, at 15 hunter Street, in the Parramatta CBD, for $1.45 million, from Graeber Properties.

Parramatta. DA for 10-storey building

The Hunt Group Pty Ltd has lodged a DA with Parramatta City Council for a 10-storey mixed use project, at 5 Hunter Street, in the Parramatta CBD. The estimated cost of the work:$9.9 million

Blacktown. $135 million expansion of markets

The owner of Parklea Markets, Almona Pty Ltd, proposes to redevelop the site as a special uses precinct. The existing markets will be retained. Development plans include a 19,200 square-metre, 336-room hotel, an exhibition/convention centre of approximately 21,000 square metres, a 17,000-square-metre growers market and parking for more than 3800 cars. The expected capital investment value is about $135 million