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Vol 11. No.179

NSW Property

Harold Park Paceway site on the market (AFR Pg.53)

• The NSW Harness Racing Club has placed their 10.6 ha Harold Park Paceway site on the market.
• The property is expected to sell for a price in excess of $150 million.
• The site is connected to the light rail system and opens onto a 14 ha harbourside park.
• Sydney City Council has granted preliminary approval for a mixed-use development which will include 1,200 dwellings in buildings up to 8 storeys.

Eastern Creek facility gains approved (AFR Pg.53)

• Australand Property Group has received development approval from the NSW government for a 50,000m²+ office/warehouse facility in Eastern Creek.
• The facility will be occupied by Kmart and completion is due in 2011.

Samurai beach resort on the market (AFR Pg.53)

• Port Stephens Council has placed the 4-star Samurai beach resort at One Mile Beach on the market.
• There is approval to expand the resort.

Victoria Property

570 Bourke Street, Melbourne sale (AFR Pg.52) 

• Charter Hall’s Core Plus Office Fund has purchased the remaining 50% share in 570 Bourke Street, Melbourne for $76.5 million on a passing yield of 8.86%.
• The vendor of the share in the 31 storey building was the Peron Group.

Swanston Academic Building update (AFR Pg.55)

• Brookfield Multiplex has been appointed as the builder for RMIT University’s $200 million Swanston Academic Building in Melbourne.
• The 11 storey building will comprise 35,000m² of space and wrap around the Oxford Scholar Hotel.
• The building is anticipated to be completed in early 2013.

National Property

Aevum update (AFR Pg.52)

• The board of Aevum has recommended shareholders with a “short to medium-term investment horizon” accept Stockland’s $1.80 per share offer.
• However, the board has also suggested to the shareholders with a long-term horizon that they “may consider rejecting” the offer.