Top Ryde. Centre valued at $350 million

The 78,215-square-metre Top Ryde shopping centre has been valued at $350 million. “The centre has left a $600 million hole in [five] banks’ collective pockets, so a $350 million sale would hardly touch the sides,” The Australian Financial Review said. The centre, redeveloped at a cost of $800 million by Bevillesta, was placed in receivership in February 2011.

Top Ryde. Shopping centre on the market

The Top Ryde shopping centre is expected to be on the market within weeks. The centre has been in the hands of receivers McGrathNicol since the company behind the property, Bevillesta, entered voluntary administration in February 2011 after being unable to repay debts. The centre covers 78,215 square metres of retail space. Crown International Holdings is working on a $500 million development of 500 apartments above the centre.

Top Ryde. Unsecured creditors do a deal

Unsecured creditors to the collapsed company behind the $800 million Top Ryde City shopping centre, Bevillesta, have agreed to a deal giving them access to a pool of $2.5 million. The extent of unsecured claims is not yet known. Total claims run to around $900 million, according to minutes of the creditors’ meeting lodged with ASIC, the Australian Financial review reported.

Top Ryde. 30 tonnes of concrete collapses

Engineers have been called in to investigate the collapse of 30 tonnes of concrete at a shopping centre construction site at Top Ryde. The construction union said workers were lucky to escape injury in a formwork collapse at one of Sydney's largest building sites. A safety expert from the Construction, Forestry, Mining and Energy Union, Rick Rech, said the incident could have been disastrous for the workers