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Friday, 29 June 2012 00:37 |
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 PLANS for a $56 million rebuild of British American Tobacco’s Australasian plant in Pagewood, Sydney, have been approved.
Much of the existing plant will be demolished and replaced with a smaller facility, according to the AFR.
Some 60 per cent of the 16.5 hectare site will be sold for residential and commercial redevelopment.
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Monday, 25 June 2012 00:00 |
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CHANGES to the media landscape announced this week will result in a shake-out of commercial assets all over Melbourne.
Fairfax, publisher of The Age, is expected to make between $20 - $25 million for its high-tech printing and distribution facility near the Melbourne Airport in Tullamarine, abutting the Tullamarine Freeway (pictured, below).
Fairfax paid $5.6 million for the six hectare piece of former farmland in 1999 – then spent another $220 million building the existing printer which included machinery from Germany and Switzerland.
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Tuesday, 26 June 2012 05:20 |
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 THE federal Labor government’s carbon tax has been blamed for a spike in rates, to be passed on by Australia’s largest council next financial year.
Brisbane Lord Mayor Graham Quirk said the average ratepayer will face an increase of $54.62 per annum – reflecting a 4.5 per cent jump.
Mr Quirk said this rate could have limited to $31.48 a year (representing 2.6 per cent) if the carbon tax was removed.
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Tuesday, 26 June 2012 16:00 |
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 LEND Lease has secured the $315 million contract to widen the M5 West Motorway in Sydney.
It will design and construct the upgrade which include interlink roads. Two lanes will be extended to three in each direction from Camden Valley Way, Prestons to King Georges Road, Beverly Hills.
Lend Lease's construction business, Abigroup, has been working on the proposal since February 2010. Completion of the project is expected in December 2014.
Lend Lease announced the contract to the ASX this afternoon (June 26):
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Tuesday, 26 June 2012 12:55 |
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 A SECOND work stoppage in three months has plagued the much hyped development of Lend Lease Group’s $6 billion Barangaroo project, on a waterfront piece of the Sydney CBD.
Crumbled asbestos, believed to have been disturbed by trucks or other heavy vehicles accessing the site, are believed to have caused the concern this time. About 40 staff downed tools due to fear about toxic materials.
The Construction, Forestry, Mining and Energy Union (CFMEU) will meet today (June 26) to determine whether it was safe to resume work.
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Tuesday, 26 June 2012 05:10 |
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 PRAMERICA, US-based global real estate investor, is reported to be paying about $75 million for a 16-level office building in Melbourne’s CBD.
The 16,200 square metre office at 575 Bourke Street was offloaded by the Valad Property Group’s V Fund. The fund manager acquired the asset for $50.87 million in 2005.
Pramerica’s acquisition, reported in The Australian’s Primespace section, is the latest in a string of national commercial assets.
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Tuesday, 26 June 2012 05:16 |
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 SYDNEY will get a second harbor crossing under plans for a multibillion rail vision announced by Infrastructure NSW on June 20.
The crossing – with conservative cost estimates of $10 billion – will join the $8.5 billion North West Rail Link, set to be open in about 2019-20. The harbour crossing is not expected to start before then.
The crossing is needed for Sydney to use metro-style trains similar to those in London and Paris.
Coalition government advisers have speculated the tunnel cost would be considerably more than $10 billion – but Transport Minister Gladys Berejikian assured the AFR the infrastructure project will be built. The newspaper also included a map of the project.
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