THE Leichhardt Municipal Council has given Desane planning approval to expand its flagship Multimedia Centre located in the Sydney suburb of Rozelle.
The approved additional 3,000 sqm building when combined with the existing 7,000 sqm Multimedia Centre will form a flagship 10,000 sqm high tech commercial and multimedia facility.
The facilities will also include 190 security car parking spaces, a childcare centre for 86 children, an indoor/outdoor café and open air gardens.
The property is located three kilometres from the Sydney CBD.
Desane’s managing director Phil Montrone said the company can now commence leasing negotiations.
He added that when leased, the combined facilities could have a value of up to $35 million. The current value for the existing facilities is $20 million.
Construction is scheduled to commence in March 2008 and expected to be completed by March 2009. Desane expects the cost of construction for the new facilities will not exceed $8 million.
Australian Property Journal
