Cabramatta. Centre sold for $18.1 million

CBRE has sold the Cabramatta City Centre, on behalf of Ferrier Hodgson, for $18.1 million to a group of five local investors. The two-level freehold arcade has 37 specialty shops, a 57-basement car spaces and is fully leased. Net passing income is approximately $1.05 million.

Villawood. Property sold for $775,000

Lamyong Vegetarian Health Food, at Guildford, which supplies 100 per cent pure vegetarian and vegan products, has bought an industrial property from Moside Pty Ltd, for $775,000. The Woodville Road property includes 623 square metres of space and represents $1243 per square metre. Frank Knight Parramatta negotiated the sale.

Blacktown. Councillors query $80m investment

Blacktown councillors were at odds over the merits of the $80 million Wet 'n' Wild theme park proposed for Prospect. While some welcomed it as an important investment for Blacktown, others raised concerns about its location, its use of water and its economic viability. The fact the council has yet to be consulted over the project was also a major concern for many councillors. Councillors noted that the land proposed for the theme park was owned by the state government and that it would ultimately have no say over any decision.

Quakers Hill. $19 million expansion

Minister for Transport, John Robertson, opened the Quakers Hill carpark with more than 200 spaces. Over the coming weeks, new CCTV surveillance cameras will be installed in line with construction activities currently underway for the upgrade of Quakers Hill Station. The carpark and the station upgrade represents an investment of more than $19 million, Mr Robertson said. “In addition, the NSW Government’s $230 million duplication of the Richmond Line between Quakers Hill and Schofields, currently underway, will mean extra train services for Quakers Hill commuters,” he said.

Merrylands. South Australian investor

A South Australian investor has bought a 939 square-metre property tenanted by Primary Health Care subsidiary, Idameneo, in Pitt Street, Merrylands, for $3.65 million. Ray White Commercial Parramatta brokered the deal.

Region. WSROC welcomes $80m investment

“This is the kind of large-scale investment that Western Sydney needs,” said the Western Sydney Regional Organisation of Councils’ president, Clr Alison McLaren, on the announcement of the $80 million Wet ‘n’ Wild theme park to be established at Prospect. She said it would bring huge economic, employment and tourism benefits to the area. The venture would join other recreational attractions in the region including the Penrith Whitewater Stadium at Penrith, Eastern Creek Raceway and the Sydney International Equestrian Centre at Horsley Park.
.

Investment tour of Parramatta

Representatives of 40 businesses accepted an invitation of Parramatta Lord Mayor, Paul Barber, for a free half-day investment tour of the city. The companies included Chess Engineering, ComfortDelGro Cabcharge, Telstra, Investec Bank, Veolia Transport, James Hardie Australia, Waterco, Downer EDI Works, Bendigo Bank, A V Jennings Developments and Singapore Airlines. The tour concluded with a luncheon, with guest speaker, David Gonski, chairman, of Coca-Cola Amatil, at the Crowne Plaza. About 300 guests attended the function organised by the Western Sydney Business Connection.