The New South Wales Government has given the building company Reed Construction nine days to prove it can finish more than $240 million worth of road works.

The Reed Construction Group holds contracts to upgrade roads and highways at Bankstown, in Sydney’s west, as well as in the Blue Mountains, the central coast and Newcastle.

But the company reportedly owes subcontractors millions of dollars, and in February told the State Government it has cashflow problems.

The Construction, Forestry and Mining Union (CFMEU) has said Reed is owed $10 million for completed work.

But the government says it paid several months in advance.

The CFMEU’s Brian Parker says that if Reed Construction collapses, the ripple effect could cost thousands of jobs.

“What we need now is to establish that there is substantial amounts of money outstanding to contractors,” he said.

“They must be paid, so in turn workers can have their pay and continuity of employment. And these small Australian businesses don’t go to the wall.”

An expert panel set up by the government is examining Reed Group’s financial situation.

Greg Pearce says he wants the matter resolved as soon as possible.

Article source: http://au.news.yahoo.com/latest/a/-/latest/13658646/struggling-contractor-given-road-projects-deadline/

Incoming search terms:

• the reed group

A firmer euro, up 0.2 per cent on the day, also helped pull risk assets higher, giving high-beta currencies and commodities a much needed reprieve.

The Aussie fetched 99.45 US cents in late local trade, up 0.4 per cent on the day, rising from a trough of 98.70 US cents overnight, its lowest since December 15.

The modest bounce came as investors booked profits after the US dollar hit its highest since mid-January against a basket of major currencies. That, coupled with stronger Asian bourses, helped lift risk sentiment.

A trader at a European bank in Singapore said AUD/USD could correct higher, but expected only limited upside partly because sentiment was still negative.

“Perhaps we’ll see a squeeze of around 50 pips, if it does come…The market is short but not short-enough to see a significant bounce,” he added.

The Aussie broke below parity on Monday for the first time since December 20, ending the longest stretch above $US1.00 in its post-float history. Key support was seen at the mid-December low of 98.60 US cents, with resistance at 99.85 US cents.

But risk assets remained vulnerable as the political turmoil in Athens is far from over. A Greek departure from the euro area would have a potentially damaging knock-on effect on other ailing economies such as Italy and Spain, whose bond yields have climbed back towards the crucial 6 percent mark this week.

Australian bond futures suffered the same fate, with the three-year bond futures contract 0.06 points lower at 97.380, down from a 20-year peak of 97.470 set on Tuesday.

The 10-year contract eased 0.05 points to 96.770, retreating from a record high of 96.850.

Australian bonds have made huge gains recently, aided by the nation’s stable triple A-ratings from all three major ratings agencies, a status enjoyed by just eight countries.

The prospect of more rate cuts following this month’s deep 50 basis points-cut to 3.75 per cent by the Reserve Bank of Australia (RBA) has also helped.

Markets are pricing more easing with interbank futures 0#YIB: implying a two-in-three chances of a 25 basis point-cut in June and a total of nearly 100 basis points worth of cuts over the next 12 months.

Reuters

Article source: http://www.brisbanetimes.com.au/business/markets/dollar-edges-higher-on-positive-us-housing-data-20120517-1yry0.html

The Australian dollar has moved back above 99 US cents following the release of positive American housing data.

At 0700 AEST on Thursday the Australian dollar was trading at 99.14 US cents, up from 98.93 US cents on Wednesday afternoon.

Bank of New Zealand currency strategist Mike Jones said the Australian dollar rose following the release of US housing data but ongoing concerns about Greece’s political situation continued to weigh on the currency.

US home construction, rose by 2.6 per cent in April, official data showed, suggesting a modest pickup in economic growth.

“Broadly speaking, the positive news offset the negative and markets are probably suffering from a bit of `European headline fatigue’,” Mr Jones said.

“So the Australian dollar has basically traded sideways.”

The currency moved below parity with its US counterpart for the first time on Monday amid concerns about Greece’s political situation.

The country is facing fresh elections next month after its main political parties failed to form a coalition government in the wake of last week’s poll.

The radical left party, Syriza, which wants to abandon European Union imposed austerity measures, is currently leading in the polls, raising fears the country will ultimately leave, or be forced out, of the euro zone.

Mr Jones said the Australian dollar was likely to trade in a narrow range during Thursday as traders wait for further developments out of Europe.

“I think we will just be looking towards Asian equity markets for a steer on risk appetite but I think we will stay in this 99.00 to 99.50 range.

Article source: http://au.news.yahoo.com/thewest/business/a/-/national/13705892/a-higher-on-positive-us-housing-data/

The Australian housing constructing market remains weak because of low consumer sentiment, managing director Steve McCann told an investor briefing on Wednesday.

But engineering construction has a strong growth outlook, he said.

‘There are some early signs that the US economy is starting to improve but conditions are uneven across sectors,’ Mr McCann said.

‘In Chicago and New York, key cities where we have historically performed construction work, are showing early signs of market activity.’

London’s residential sector was also in the early stages of recovery, Mr McCann said.

Lend Lease has operations in Australia, Asia, the Middle East, Europe and north and south America.

Its first half net profit fell 3.8 per cent to $217.8 million in the six months to December 31, and Mr McCann did not offer any specific financial guidance for the full year.

Lend Lease shares lost 17 cents, or 2.3 per cent, to $7.33 on Wednesday.

Article source: http://wap.news.bigpond.com/articles/Finance/2012/05/16/Lend_Lease_cautious_on_outlook_751038.html

Hundreds of workers have walked off the largest construction site in New South Wales over safety concerns.

The Construction, Forestry, Mining and Energy Union says about 500 people are on strike at the Central Park site in Sydney.

CFMEU spokesman Brian Parker says the dispute relates to a sub-contractor hired to pour concrete on the site of the former Kent Brewery on Broadway.

He says scaffolding used by the company does not comply with Australian standards and could collapse.

“We’re asking for them to comply with the law, and the law is very clear. You need things to comply with Australian Standards and certainly this structure of scaffold and screw jacks don’t comply with Australian Standards,” Mr Parker said.

“They need to be because we could have a major collapse on this site, which would a significant amount of deaths, not only to workers but the public as well.”

Mr Parker says work will not recommence until the scaffolding has been dismantled.

“We’re hoping to meet with the employer tomorrow at 7:00am I’ll be there meeting with the employer and we’ll be sitting down and we’ll be asking to dismantle the structure and if he agrees to do that there’ll be a return to work,” he said.

Article source: http://au.news.yahoo.com/latest/a/-/latest/13642170/construction-workers-strike-over-safety-concerns/

The Olsen is a boutique hotel located in the heart of South Yarra on Chapel Street, a minutes’ walk from the entertainment and shopping area of Chapel Street and the train station. This newly built property has only been open since March 2010 and offers a modern and contemporary decor.

The Olsen rooms all feature kitchenettes and a modern decor maximising natural light and cosmopolitan views of the South Yarra/Toorak area. Each suite also features a print from painter John Olsen. The Olsen features a large glass bottom swimming pool, day spa and a contemporary restaurant and bar.

The Olsen has 2 restaurants. High-speed wired and wireless Internet access is available for a surcharge. Business-related amenities at this 5.0-star property consist of a technology helpdesk, secretarial services, and limo/town car service. In addition to a full-service spa, Art Series – The Olsen features an outdoor pool and a fitness facility. Event facilities measuring 40 square feet include conference/meeting rooms and small meeting rooms. A complimentary area shuttle within 5 km is available for guests.

Other Information

• Location :  637-641 Chapel Street South Yarra, VIC 3141
• Country : Australia
• Story : 14
• Room : 229
• Architect : Rothe Lowman Architects

Incoming search terms:

• the olsen hotel builder
• rothe lowman
• 637 chapel street south yarra
• hotel builder
• olsen hotel architect
• The Olsen hotel australia
• who built the olsen hotel

The Centre’s roof height is 188m, and it was the tallest building in Sydney until the MLC Centre was completed in 1977. The architect is Peddle Thorp & Walker.

Other Information

• Location :  50 Bridge Street, Sydney, Australia
• Constructed : 1976
• Use : Office
• Height Roof : 188m
• Floor count : 45
• Architect : Peddle Thorp & Walker

Links

• Emporis.com

Incoming search terms:

• amp centre 50 bridge st construction
• amp centre
• Peddle Thorp & Walker Pty Ltd amp

The building has an unusual geometric shape where not one panel is parallel to any grid. The east façade bulges out slightly from its base, reaching its maximum width at the top floors. The curved and twisted shape of east façade is aimed to correspond spatially with Sydney Opera House and to represent the sublime marine environment of the harbour. The exterior glass curtain-wall extends beyond the main frame, creating an illusion of its independence. The steel spire attached to the north facade is 75 m in length.

The building was built on the site of the former NSW Government Office Block by Bovis Lend Lease. The assumptions of a planned tower were first presented to the Central Sydney Planning Committee in 1996, when three main architects: Mark Carroll, Shunji Ishida and Renzo Piano put forward the innovative project. The building was sold in January 2001 for $485 million. Aurora Place was the winner of prestigious 2002 Property Council of Australia Rider Hunt Award, handled out for technical and financial qualities.

Other Information

• Location : Central Business District, Sydney, Australia
• Status : Built
• Use : Office
• Begun : 1996
• Completed : 2000
• Façade : Glass curtain wall
• Roof : 188.8 m (479 feet)
• Pinnacle/Spire : 219 m (718 feet)
• Floors : 41
• Architects : Renzo Piano Building Workshop in association with Innovarchi Architects, Sydney and Lend Lease Design Group (TSG)
• Developers : Bovis Lend Lease, East Asia Property Group, Mirvac Group (Residential only)
• Project Manager : Bovis Lend Lease
• Structural Engineers : Lend Lease Design Group; Ove Arup and Partners; Taylor, Thompson & Whitting

Links

• SAW, Architect led tours of Aurora Place
• The Australian News

Incoming search terms:

• arup aurora place
• aurora place when built?
• aurora place WHICH ONES OFFICE AND RESIDENTIAL
• aurora place-structure
• auroroa place strcture
• january 2001 for $485 million aurora place
• residential skyscrapers renzo piano
• structural frame of aurora place sydney
• structure aurora place renzo piano sydney
• the aurora building - sydney

The building was designed by Harry Seidler & Associates. Today, it remains a landmark building in Sydney and is regarded as iconic to Australian architecture. It has even been described as the most beautiful building in Australia. The outstanding feature of the Square is the Tower Building which from its completion in 1967 until 1976 was the tallest building in Sydney.

Australia Square is owned by GPT Group. In 1967 the building won the Sir John Sulman Medal for its innovative and appealing design. During the mid 1990s the building was completely refurbished. Another $11 million refurbishment program, which included replacing all paving in public areas with Italian porphyry paving stone, new lighting and outdoor tables was conducted in 2003.

Other Information

• Location : 264 George Street, Sydney, Australia
• Status : Completed
• Groundbreaking : 1961
• Opening : 1967
• Use : office, retail
• Height Roof : 170
• Floor count : 50
• Floor area : 65,000 sq m
• Architect : Harry Seidler
• Structural Engineer : Pier Luigi Nervi
• Contractor : Civil and Civic
• Owner : GPT and DEXUS

Links

• Australia Square Online
• Australia Square Tower in the Structurae database

Incoming search terms:

• australia square building construction
• australia square plan
• pier luigi nervi australia square

Blues Point Tower was the first high-rise strata title apartment building in the world. With strata title was first introduced in 1961 in the state of New South Wales, Australia, the year after the Utah Condominium Act of 1960, this allowed Blues Point Tower to become a landmark in residential property not only architecturally, but also legally and socially. The advent of strata title in New South Wales made property ownership possible for many more people since previously the tenant of a ‘company title’ apartment held shares in an entity which owned the building and was not therefore considered eligible for mortgage. It was for this reason Dick Dusseldorp whose company Civil and Civic developed and constructed Blues Point Tower had championed the development of strata title in New South Wales and later in Canberra.

Other Information

• Location : McMahons Point, Sydney, Australia
• Use : Residential
• Height : 83m
• Floor level : 24
• Architect : Harry Seidler and Associates

Links

• From Track to Tarmac

Incoming search terms:

• blues point tower floor plan
• blues point tower
• blues point tower australia
• blues point tower construction
• blues point tower plan sydney
• blues point tower structure
• dick dusseldorp residence
• height of blues point tower