Vol 11. No.24
Friday 05 February 2010
Economic Overview
|
Current |
+/- |
Movement |
| $AUS/$US |
88.13 |
-0.58 |
 |
| Cash Rate |
3.75 |
Steady |
 |
| 90 Day Bill |
4.13 |
+0.01 |
 |
| 10 Year Bond |
5.450 |
Steady |
|
| ASX 200 |
4621.6 |
-26.3 |
|
NSW Property
Woolworths Hoxton Park facility (AFR Pg.55)
- Mirvac is set to construct a $200 million distribution centre for Woolworths on the former Hoxton Airport site in Hoxton Park.
- The 60 ha site adjoins the M7 and was originally purchased in 2003 by Leighton Holdings and Mirvac.
- Mirvac will now buy the site and develop a 9 ha Big W facility and 5 ha Dick Smith distribution centre
- The leases are 20+ years and the initial return on the investment is in excess of 8%.
- The deal will be Mirvac’s first commercial property development since the onset of the financial crisis.
- The project is subject to final approval from the NSW Minister for Planning.
National Property
Buckland Park development update (AFR Pg.55)
- The South Australian Government has approved the first stage of Walker Corporation's $2 billion residential project in Adelaide’s north.
- Permission has been granted for the construction of 614 houses, a display village and town centre as part of the Buckland Park development.
- The 1,340 ha estate is anticipated to have 12,000 lots by 2036.
Sources: As above
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