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Vol 11. No.133

Landsburys Independent Accreditation Reports

Economic Overview

	Current	+/-	Movement
$AUS/$US	87.85	-0.30
Cash Rate	4.50	Steady
90 Day Bill	4.87	Steady
10 Year Bond	5.100	-0.002
ASX 200	4442.6	-19.8

NSW Property

Harold Park update (AFR Pg.51, SMH Pg.5)

• The City of Sydney has released the final draft rezoning plans for the redevelopment of the Harold Park Paceway in Glebe.
• Under the plans 1,200 new dwellings in buildings up to 8 storeys high will be developed. At least 50% of the apartments would be affordable housing.
• Open space will represent 3.9 ha of the 10.5 ha site.
• The NSW Harness Racing Club believes the amount of open space is “excessive” as there is an adjacent 14.3 ha park . A draft urban design study commissioned by the council previously recommended 2.7 ha of public space.
• If the council and the club do not agree on the controls the state government may take control.
• The heritage tram sheds will be utilised for a mix of retail, commercial and community uses.

Ultimo sale (AFR Pg.51)

• FKP Core Plus Fund has sold the refurbished 579 Harris Street in Ultimo for $14.5 million.

National Property

Salta industrial portfolio update (AFR Pg.51)

• GIC is believed to be finalising the deal to purchase an industrial portfolio from Salta Properties for about $220 million on a yield above 8%.
• The portfolio includes 8 separate logistics facilities in NSW, Queensland and Victoria.
• Tenants include Coles and Westgate Logistics.