D. Jones, Grace Plan Centres

Press, Volume CIX, Issue 31923, 26 February 1969, Page 20

D. Jones, Grace Plan Centres

(N.Z. Press Association) SYDNEY, Feb. 25. Two of Sydney's main department retailers now have submissions before the New South Wales State Planning Authority on the development of shopping centres in North Ryde (Sydney). They are David Jones. Ltd, and Grace Bros Holdings, Ltd.

David Jones has announced plans to build an $18.6m combined retail, commercial office and industrial factory complex on 39.2 acres of land to be known as “Garden City.” The company’s sales and profits for tbe six months to January 31 had been at record levels for the 21 stores in its chain, the directors said. Hooker Corporation, Ltd, has been retained as the real estate development adviser on the project. The company would not elaborate on how it was financing the project, but as it will be tbe sole owner, it seems likely that funds will come from internal sources and borrowings, which suggests an issue to shareholders. Grace Bros has plans for a sl2m centre on a 16-acre site within half of a mile of the David Jones centre.

Aluminium Short (N.Z.P.A ..Reuter—Copyright) TOKYO, February 26. Japan will face a shortage of more than 200,000 tons of primary aluminium this year, and will have to make up the deficiency with imports, Japan’s biggest aluminium smelter company, Nippon Light Metal, predicted. Japan imported 170,000 tons of aluminium last year. There is a world-wide shortage of the metal.