Tuesday, 13 July 2010

Region. Hospitals to operate within budgets

The Special Taskforce report into the Sydney West Area Health Service examined ways to make hospitals such as Westmead, Nepean and Blacktown operate within budget. The report has revealed a state government plan to slash 117 beds from hospitals in Western Sydney, cut 291 staff and reduce surgery.


Hawkesbury. Boost to tourism

The decision by Hawkesbury Council to grant a long-term lease for the management of the Australian Pioneer Village, at Wilberforce, will boost tourism in the Hawkesbury area. The village, which has been closed to the public for years, was set up in the 1960’s with re-located buildings that are all historic, as well as from bequeaths from families who have old family pieces they donated to the village.


Rosehill. Twenty-three metre tower approved

Parramatta City Council has approved an application by James Hardie Industries Limited for an addition of a tower to the flat panel fibrous cement plant building, in Devon Street, Rosehill, with an overall height of 23 metres above ground level. The tower will contain an inorganic mineral processing plant. The estimated cost of development is $425,000.


Sydney Olympic Park. Proposal to list cauldron

Public comment is being sought by the Department of Planning on a proposal to list the Sydney Olympic cauldron on the State Heritage Register. “The cauldron is a reminder of this iconic event [in 2000] in the State’s history and its lighting by Cathy Freeman was one of the most enduring images of the 2000 Olympics, the Minister for Planning, Tony Kelly, said. Australian Winch & Haulage Company, at Smithfield, provided the hydraulic lifting gear that transported the Olympic flame to the cauldron

Parramatta. Vacancy rate 'least volatile'

The Parramatta office vacancy rate has historically been the least volatile of all NSW markets and has held relatively steady over the past few years, according to Knight Frank’s Parramatta Office Market report. The vacancy rate has peaked and with no new supply to enter the market in the short-term, coupled with improving demand the vacancy rate is expected to trend below 8 per cent by mid 2011 and continue on this downward trajectory in 2012. With vacancy in the A-grade segment to remain negligible and no new space coming on line in the short term, face rents will rise and as incentives begin to wind back. The Parramatta office market is returning to its traditional place in the Sydney investment spectrum being a strong yielding market known predominantly for its return characteristics. Although there have only been a handful of sales over the past year, the recent transactions highlight the disparity between what the market will pay for quality buildings with long leases compared with secondary assets with short WALEs and capex requirements, where double digit yields have become the norm, the report said.