sydney cbd – realestatesource https://www.realestatesource.com.au Commercial and residential property news Mon, 25 Jun 2012 09:16:02 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.2 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png sydney cbd – realestatesource https://www.realestatesource.com.au 32 32 Rail Infrastructure Worth More Than $18 Billion Announced For Metropolitan Sydney https://www.realestatesource.com.au/rail-infrastructure-worth-more-than-18-billion-announced-for-metropolitan-sydney/ Mon, 25 Jun 2012 09:16:02 +0000 http://realestatesource.com.au/wordpress/rail-infrastructure-worth-more-than-18-billion-announced-for-metropolitan-sydney.html 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.
]]> NSW premier Barry O’Farrell said the project “stands in stark contrast to what Labor did time and time again, where projects were listed, where start and finish dates were included. What we’re trying to do is proper planning.”

A privately operated metro service will initially extend from Chatswood to the inner-north. Single deck trains will run every five minutes on the expanded 37 kilometre stretch which also includes the North West Rail Link currently commencing construction.

]]> Six Vie to Build Park at Barangaroo Redevelopment, Sydney https://www.realestatesource.com.au/six-vie-to-build-park-at-barangaroo-redevelopment-sydney/ Sat, 16 Oct 2010 04:29:09 +0000 http://realestatesource.com.au/wordpress/six-vie-to-build-park-at-barangaroo-redevelopment-sydney.html SIX developers have been selected out of 17 applications to redevelop the first stage of Sydney's Barangaroo.

The developers are: Baulderstone; Bovis Lend Lease; Hansen Yuncken; John Holland; Laing O'Rourke Australia and Theiss.

]]> A decision about who will develop the first stage of the 22 hectare waterfront site – a six hectare park – is expected to be made in December.

Lend Lease is developing the commercial and residential precinct known as Barangaroo south.

]]> Sydney Metro Spends $120 Million Acquiring Sites https://www.realestatesource.com.au/sydney-metro-spends-120-million-acquiring-sites/ Fri, 22 Jan 2010 01:01:29 +0000 http://realestatesource.com.au/wordpress/sydney-metro-spends-120-million-acquiring-sites.html Kristina KeneallySYDNEY Metro, the government arm which will commandeer the construction of the city’s new metro rail system, has paid $120 million for offices in the city centre.

NSW Premier Kristina Keneally said Sydney Metro had now stopped buying sites, until the government makes its final decision about the project “shortly” – but a further  $180 million on property acquisitions is put away to be spent, to fund the project, the AFR reports.

Sydney Metro confirmed it has purchased 30 and 36 Clarence Street and 131 Bathurst Street, in the Sydney CBD, and two smaller offices in Rozelle, in the city’s inner west.

 

]]> Two more properties, one in Pyrmont and another on Castlereagh Street have also been purchased, the AFR reports.

In the case of 30 Clarence Street, Sydney Metro paid approximately $30 million for the site, returning tis owner – who paid $19 million in 2006 – a nifty profit.

The first stage of the project is estimated to be worth some $4.8 billion, and would link Central Station with new stations next to Town Hall, Martin Place, Wynyard, Barangaroo, Pyrmont and Rozelle.

The government told the AFR it is trying to minimise its compulsory acquisition powers, instead choosing to negotiate directly with occupiers, including in one case, education group Navitas.

Ms Keneally expects an announcement about the metro rail system to be made in late February, 2010.

 

]]> Frasers Property Gets Moving to Redevelop Sydney’s Former CUB Site https://www.realestatesource.com.au/frasers-property-gets-moving-to-redevelop-sydneys-former-cub-site/ Mon, 08 Jun 2009 12:44:17 +0000 http://realestatesource.com.au/wordpress/frasers-property-gets-moving-to-redevelop-sydneys-former-cub-site.html SINGAPORE-based developer Frasers Property is preparing to redevelop Foster's former Sydney CUB Brewery into a $500 million mixed use project.

The new proposal will include two office towers, two apartment buildings and will be flanked by ground floor retail. Frasers has appointed an architect to design the proposal, and has started lodging applications with the NSW Department of Planning.

]]> “We will be right on time for the upswing,” Frasers Property chief executive Dr Stanley Quek said. “In Singapore there is a good take up of apartments, and in England an uptake”. 

He said funding would not be a problem, describing Frasers as “a fairly strong company”.

The first development application is for an office and retail building on the corner of Broadway and Abercrombie Street, however a building on some other part of the site may be developed first, Dr Quek said.

Frasers outmuscled Australand to buy the central Sydney site, agreeing to pay $208 million in June 2007. Frasers is a branch of the Singapore-listed Fraser and Neave. That company ownws food, beverage, publishing and printing businesses, as well as property development.

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