Friday, 22 July 2011

Region. Property values increase

Sydney's western suburbs have emerged as the powerhouse areas of the harbour city for increases in property values over the last year. Data from Australian Property Monitors reveals that in the 12 months to the end of May, the top five increases in median housing values occurred in the more affordable parts of the NSW capital: Auburn, $580,000, up 10.5 per cent; Parramatta, $522,000, 8.7 per cent; Fairfield, $434,000, 8.5 per cent; Canterbury, $650,000, 5.8 per cent; and Bankstown, $515,888, 5.3 per cent.


North Ryde. New contract at univetrsity

Premier Barry O'Farrell has announced a new contract between Huawei Australia and Macquarie University to establish a scholarship program for electronic engineering students. The contract follows Huawei joining Macquarie University's Engineering Industry Partnership Program (EIPP), alongside other industry partners including Optus, CSIRO, Cochlear and the Commonwealth Bank. The agreement marks Huawei's third university partnership in Australia and will allow students to gain real-world experience working with Huawei on a range of major infrastructure projects, and will also offer scholarships to two students in their final year of the degree.


Epping. Property sold for $6.5 million

Wintern property Group has sold a five-level office building, at Epping, for $6.5 million, to private investors, Jadan Property Group. Tenants include the Nursery and Garden Industry of Australia, Craig Rhodes Surveyors and Tien Wah Press Australia.


Granville. Industry reputation affected

Paper merchants expect the collapse of Australian Envelopes, which has a facility at Granville, to hurt the industry's reputation with insurers, as unsecured debts exceed $10 million, including $6.5 million owed to Australian Paper. According to PPB, the administrator is working through a number of expressions of interests from potential buyers and the fate of Australian Envelopes could be revealed at the next creditors meeting on 26 July.

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Region. Rents tipped to rise

Rents in Sydney’s metropolitan office markets, including North Sydney, Parramatta and Macquarie Park, are tipped to rise during the second half of 2011, according to CB Richard Ellis. Total returns in excess of 120 per cent are expected for A-grade and prime stock in these and other Sydney suburban markets.


Regents Park. New corporate brand

Packaging company, Colorpak, at Regents Park, has unveiled a new corporate brand to unify its operations with the folding-carton businesses acquired earlier this year from Carter Holt Harvey.