Westfield, AMP to Extend North Ryde’s Macquarie Centre, Sydney

AMP Capital Investors, with the Westfield Group, are set to redevelop the Macquarie Centre which they co-own in Sydney’s north.

The shopping centre upgrade will be the biggest undertaken in New South Wales for about ten years.

It will add a new David Jones store, a national supermarket chain and about 150 specialty stores – in a 30,000 square metre extension. Macquarie Centre is currently 96,500 square metres.

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Out With The Old at Phillip Island

THE owners of a 26-hectare Phillip Island farm, until three years ago owned by AMP Capital Investors and earmarked to become a retirement village, have applied to Bass Coast Shire Council to remove the entire aged-care component of the proposal.

The owner of the site paid AMP a reported $8 million for the Ventnor Road block and a permit for a 184-lot residential subdivision.

A major aged-care complex and community facilities were required to be developed as part of that permit. However, the council will now decide on whether to issue a new permit resulting in the entire farm, about three kilometres south-west of the centre of Cowes, being subdivided into 304 standard residential lots.

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JG King, Massi, Buy Into $80 Million Clifton Hill Housing Estate

FOLKESTONE and AMP Capital Investors have sold part of a major $80 million residential development in Clifton Hill.

A joint venture consortium including major suburban home builder JG King Homes, and Massi Property Solutions, have paid an undisclosed sum for a major piece of the Clifton Hill site, at the corner of Noone and East Grey streets, near the northern fence of the Eastern Freeway.

The site, formerly occupied by Spicers and used as a clothing dye factory, was part of a much larger property acquired by Folkestone and AMP for a speculated $14 million in June 2007.

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