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Australand PRESS RELEASE: 18/12/2000 AUSTRALAND ACQUIRES PRIME ST LEONARDS SITE FOR RESIDENTIAL DEVELOPMENT Leading property developer, Australand Holdings Ltd has acquired a prime St Leonards site for a development combining residential, retail and commercial components. The development-approved site, located at 2-4 Atchison St and just 100 metres from St Leonards Railway Station, was acquired for $6.2 million from the owner of Huxley Homes, Mr Graham Huxley. Australand plans to develop 100 apartments on the site from early next year, with strong buyer interest expected following the sales success of other luxury apartments in the area - including The Forum. Mr Peter Dransfield, Executive General Manager of Australand's Apartments Division, said "This acquisition is part of our continuing program of buying prime positions in the Lower North Shore and elsewhere in Sydney, which show continuing strong capital and rental growth". The group has been responsible for some of the North Shore's most successful apartment developments in recent years, with success at residential towers, The Harvard at Miller St in North Sydney, Portofino and North Harbour at Alfred St in Milson's Point, The Bentley at William St, North Sydney, and The Regency Chatswood at Victoria St in Chatswood. Mr Dransfield added, "Our latest purchase reflects our philosophy in developing popular residential towers, where they are located in central areas of a suburb, close to public transport and other amenities". The purchase also signifies the success of St Leonards residential and commercial property sectors, which are capitalising on the construction of better infrastructure for the residents and workers. For Further Information Call: Peter Dransfield/David Edelstein: Australand Ltd: Ph: (02) 8218 1500
PRESS RELEASE: Jan 2000 KING STREET WHARF SUCCESS PROMPTS SECOND STAGE RELEASE A successful pre-Christmas leasing campaign has encouraged Australand and Multiplex to offer further restaurants and retail spaces for lease in a Second Stage at their King Street Wharf development on the city side of Darling Harbour. The joint venture has commenced leasing the last five restaurants and cafes, which range from 200 square metres up to 390 square metres. Rentals start from $1000 per square metre. Restaurants in this new release will include Asian, modern Australian and traditional European cuisine and each restaurant or café will have sweeping views over Darling Harbour to the casino and the Balmain Peninsula. Also on offer are two waterfrontage kiosks, one of which will suit an established ice cream and take away desserts vendor. The second kiosk is intended for tourism purposes, to complement the charter boat activities, which will be a feature of King Street Wharf. Retail Leasing Director for King Street Wharf, Mr Douglas Stewart of Colliers Jardine, said "King Street Wharf is set to rival Cockle Bay as a harbourside dining and leisure destination. Being only 250 metres from Wynward, it will also open the harbour foreshores to thousands of people who work in the main CBD. "Stage One of the leasing campaign has already seen the waterside tavern, Italian and seafood restaurants and cafes leased, plus an exciting but currently secret family entertainment complex being developed ready for launch prior to the Olympics," he added. Meanwhile, only 11 of the first 95 residential apartments in Stage One are left for sale at prices ranging from $500,000. Stage Two, which will add another 108 apartments is due to be released in February. An unusual offering at King Street Wharf is a range of strata commercial water frontage office suites, of which more than 30 have been sold at prices ranging from $700,000 up to over $1,6 million. When completed in August 2000, the $160 million Stage One of the project will bring new life to Sydney's most universally attractive waterside attraction, Darling Harbour.During the summer holidays, millions of tourists, holidaymakers and Sydneysiders have flocked to the foreshores, restaurants and attractions. Access for residents, visitors, tourists and diners will be via Erskine and King Streets or by ferries to the wharf form all points of Sydney Harbour. For Further Information Call: Geoff Davey: King St Wharf: Ph: (02) 9299 0611
ADVERTORIAL: Feb 2000 BIG DEMAND FOR APARTMENTS AT CRONULLA'S EXCITING SUR-MER Time is running out for buyers to capitalise on the successful transformation of Cronulla's best known landmark, North Cronulla Hotel, to the new "Sur-Mer" luxury apartment complex. The new Northies hotel will be opened before this year's Olympic Games, while the apartments will open in early 2001. Just fourteen of Sur-Mer's 40 exciting studio, one and two bedroom tourist apartments are left for sale, with starting prices ranging from $230,000 to $485,000. Meanwhile, there are just two magnificent penthouses out of the 89 apartments in the development left for sale, where buyers can live in the lap of luxury. Penthouses with panoramic ocean views featuring four bedrooms and three bedrooms with study are priced from $1.25 million. Both the penthouses and apartments form important components of the $80 million Sur-Mer development, which will see the famous Northies once again become the centre of Cronulla's beach-side life. All the tourist apartments and penthouses will have stunning views of beautiful Cronulla Beach and Dunningham Park and feature 24 hour service, separate entrance and lobby and car-park facilities. SUR-MER APARTMENTS WILL BE POPULAR WITH SHIRE VISITORS The tourist apartments will cater perfectly for holiday-makers and business travellers, who will have access to all of Sur-Mer's exciting features, including its magnificent new tavern catering for the whole family, retail outlets and its three restaurants, as well as a resort-style pool and gym. Sur-Mer will also feature a huge new 1,800 square metre tavern, which will capitalise on an open outdoor setting and street frontage to Dunningham Park and the beach. There will be an expansive alfresco, family style brasserie facing the park, while part of the open bar area will be sheltered by a glass roof - allowing year round enjoyment and entertainment. The tavern will also feature a Sports Bar, Lounge Bar, Garden Bar, Brasserie and Bottle Shop. The complex will employ 200 local people, which is good news for the Shire's young people, who want to join the service and hospitality sector - the world's largest and fastest growing employer. APARTMENTS TO PROVIDE STRONG CAPITAL AND RENTAL RETURNS Mr Les Boardman, a director of "Sur-Mer's" selling agent Chris Burke and Co, says "Sur-Mer's apartments and penthouses will be very popular with local owner-occupiers and investors, as they provide the opportunity to enjoy a fantastic lifestyle, as well as potentially strong capital and rental returns. "The Sutherland Shire Council's development of a beachfront mall and park regeneration, as well as the Sur-Mer complex itself, create a fantastic environment for living and investment opportunities", he added. He said the penthouses will be the perfect place for people whose kids have left home, sold their houses and are looking to change their lifestyle. "We believe empty-nesters or retirees will thrive in the Sur-Mer penthouses, in the heart of Cronulla's CBD - being close to retailers, the beach and public transport, while also investing in a property which will show very strong capital and rental returns", concluded Mr Boardman. JOBS FOR LOCALS The Sur-Mer development has also proven to be a great success for the Sutherland Shire's workforce, with the majority of the development's contractors based locally.The development's management team are also predominately from the Shire. Development Co-ordinator, Alec Wallace, said "Once the development is complete, over 200 local people will be employed to run the operation, which is great news for the Shire's young people wanting to join the service and hospitality sector". He concluded that a large number of the workers will be former employees of the old Northies, who are excited to have the opportunity of being part of the huge new complex. Apartment buyers should call either Les Boardman on 0414 280 125 or Jan Casaceli 0414 658 999 of Chris Burke and Co Project Marketing.
PRESS RELEASE: 19/11/99 WALKER LAUNCHES MAJOR LAND RELEASE Australia's largest industrial property developer, Walker Corporation
Ltd, has The stage 2 land release covers 25,000 square metres and is capable of accommodating a building area of 13,000 square metres. It will be suited to companies looking to establish new corporate headquarters and warehousing operations, which require quick access to interstate road transport routes. The estate, purchased by Heine Funds Management in 1999, has Hellmann International as its first tenant. This 7,000 square metre facility was completed in August 1999. The Brooks Rd site is located in the vibrant industrial precinct of Ingleburn, with neighbours including Franklins, Colgate Palmolive, CSR and Kimberley-Clark Australia. NSW Business Manager of Walker Industrial, Mr John Marsh, said "The estate, zoned 4(a), is tailor-made for companies which require convenient transport links, large warehouse space, individually designed office and warehouse spaces with up to 10 metres clearance". He added, "We have already prepared the site for design and construction, with tenants having the ability of moving into the new facility by the end of 2000". Leasing of the site is being handled by Peter Dale at Colliers Jardine and Ray Gent at Knight Frank. Ingleburn continues to enjoy cost-effective rentals, estimated to average between $75 and $85 a square metre per annum. Mr Marsh concluded, "With the completion of the M5 extension, companies at Brooks Road Ingleburn will have direct road links to Sydney Airport, and quick access to the freeways to the southern states". For Further Information Call: John Marsh Tim
Allerton
WALKER CORPORATION LAUNCHES EXCITING BUSINESS PARK IN CHULLORA Australia's largest industrial property developer, Walker Corporation Ltd, has launched plans to develop one of Sydney's largest business parks, Chullora Business Park. The commercial park covers 5.2 hectares and is best suited to tenants looking to combine their head offices with warehousing operations from 5,000 to 35,000 square metres in size. Chullora Business Park is located at Worth St in a vibrant commercial and industrial precinct of Chullora, which includes the printing operations of Fairfax Printers, News Ltd and Australian Consolidated Press, as well as warehouses for Franklins and Sony. NSW Business Manager of Walker Industrial, Mr John Marsh, said "The industrial-zoned Chullora Business Park will follow Walker's successful formula of providing custom-made designs for the needs of tenants". The flexible designs can include the provision of modern corporate offices, research and development areas, extensive car parks, 10 metre high clearance in warehouses and loading docks. Chullora Business Park is also located next to a rail line, linking Strathfield and Bankstown train stations. Walker Corporation can gain approval for the construction of an exclusive rail link directly into the business park. Mr Marsh added, "One of the main attractions of the park is its excellent location, with links nearby to the Hume Highway, M4 Motorway and Parramatta Road". The development is being undertaken on behalf of owner AMP Asset Management, which acquired the old State Rail Authority site from Walker Corporation in 1999 for $10 million. The leasing project is being handled by Peter Dale at Colliers Jardine and Ray Gent at Knight Frank. Chullora has shown strong capital and rental growth in recent years as blue-chip companies have moved into the area, with annual rents averaging about $100 a square metre, while reaching as high as $123 a square metre. Walker Industrial's turnover in 1999 of $180 million represented 40 per cent of Walker Corporation's turnover, with major successes in recent years being new facilities for Coles Myer Ltd, K Mart, Vodafone and Country Road in Victoria; DHL, Selleys Chemicals, Hellmann International, Tech Pacific, AEI, 3PP and Hermes Precisa in NSW. The division has an ongoing policy of selective land acquisition in key business areas, with good exposure and access to major transport links. Walker Industrial has an in-house team of architects, engineers, town planners and construction managers who can put together the whole project, within budget and deadline. Mr Marsh claimed a major facility at the Chullora Business Park could
be completed as soon as Sydney Olympics 2000, subject to council approval,
if a tenant was signed during November. John Marsh Tim Allerton
SERVICED APARTMENTS LAUNCH AT CRONULLA'S The developers of Cronulla's best known landmark, North Cronulla Hotel
(Northies), The apartments will cater for holiday-makers and business travellers visiting the Shire for a few days to several months, and are expected to be operated by one of the Quest Group's experienced franchisees. A combination of studio, one and two bedroom serviced apartments are now for sale, with starting prices ranging from $225,000 to $320,000, with views of beautiful Cronulla Beach and Dunningham Park, 24 hour service, separate entrance and lobby, as well as car-parking facilities. All the apartments have kitchen facilities and superb fixtures and fittings, with easy access to conference and function rooms for up to 250 people. The Quest Group is Australia's leading and most experienced apartment accommodation group, offering the best in business or tourist accommodation. Quest apartments are located in most major city and resort locations throughout Australia. People staying in the serviced apartments will have access to Sur-Mer's many features, including the superb tavern, three restaurants, as well as resort-style pool and gym. Mr Les Boardman, a director of Sur-Mer's selling agent Chris Burke and Co, "Sur-Mer's serviced apartments will be very popular with local people and other investors, as they provide the opportunity to attract very strong capital and rental returns. There is little short stay accommodation in the shire, which makes short stay apartments a good investment". He added, "The Sutherland Shire Council's development of a beachfront
mall and park regeneration, as well as the Sur-Mer complex itself, offers
a very solid investment opportunity for local people, while also being
available for owners' own use for extended periods each year - either
for accommodating their families seeking a break or visiting friends and
relatives". The $80 million Sur-Mer will feature a new tavern, convention centre, three retail boutiques facing The Kingsway and a public car-park for 100 cars. Well-known hotel owner and operator, Fernwood Management Ltd, has teamed up with Walker Corporation and Multiplex Constructions for the development and operation of the complex. Located at 143-145 Elouera Rd opposite Cronulla Beach, the North Cronulla Hotel will be replaced with a 1,800 square metre tavern, which will capitalise on an open outdoor setting and street frontage, with views through Dunningham Park to the beach. There will be expansive alfresco, family style brasserie facing the park, while part of the open bar area will be sheltered by a glass roof - allowing year round enjoyment and entertainment. A themed gaming room will be opened, while a huge new bottle shop will operate at the corner of the Kingsway and Elouera Rd. There will also be an extensive lounge and public bar in the complex, featuring huge open spaces and ocean vistas. He added, "We plan to employ 200 local people in the operation of
the new complex, which is good news for the Shire's young people, who
want to join the service and hospitality sector - the world's largest
and fastest growing employer". For Further Information Call: Les Boardman Tim
Allerton
REGENCY CHATSWOOD BEGINS CONSTRUCTION OF TWIN TOWERS Walker Corporation has commenced construction of its twin tower residential apartment project at the old Wallaceway site, bordering Orchard and Anderson Sts on the eastern side of Chatswood Railway Station. Following a competitive tender, Walker Corporation has selected Australia's largest and best known private construction company, Grocon, to build the exciting $250 million complex, with completion expected in mid-2001. Grocon is linked to some of the best residential and commercial developments in Sydney and Melbourne. The firm's major projects in Sydney include the Sydney GPO development in Martin Place, Governor Phillip and Governor Macquarie Towers and the Peak and Horizon luxury apartment projects. Development manager of the project, Mr Peter Saba, said "We have chosen one of Australia's best builders to construct Sydney's most sophisticated and beautiful twin tower apartment buildings". He added that Grocon had commenced its building works this week, with extensive excavation works and foundation work already underway. Regency Chatswood last month reached a milestone, with $110 million worth of sales of 300 apartments, representing almost three-quarters of the development's first two releases of 446 apartments. The twin tower Regency Chatswood, which will have a total of 544 luxury apartments, has been especially popular with older owner-occupiers and investors who are looking for two bedroom apartments around $400,000, complete with great views and large living areas. Many buyers are interested in securing their apartments in Regency Chatswood while they remain free of the upcoming Goods and Services Tax. Buyers can secure an apartment by simply supplying deposit bonds for only 1 per cent of the purchase price. The construction project follows an extensive six month demolition and excavation phase, which has cleared the former eyesore. Regency Chatswood's apartments range in price from $208,000 to $1.65 million in the two towers, with a wide range of one, two and three bedroom apartments still available for sale. A new display suite is located at Shop 1, 29 Anderson St, Chatswood - opposite the site. For Further Information Call: Peter Saba Tim
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