Meriton Group buys Sydney development site worth $47 million, Click Frenzy launches third sale event: Midday roundup

Meriton Group has acquired a 17,150 square metre Mascot development site in Sydney’s southern suburbs for $47 million.

It is the second Mascot site the group, headed by Australia’s sixth-richest man Harry Triguboff, has bought this year.

Meriton now owns development sites across Sydney worth $300 million.

The site currently operates as a multi-unit industrial estate housing tenants including chocolate maker Lindt.

Click Frenzy launches third sale event

Click Frenzy, the business that brought Australia the online discount event that crashed spectacularly after failing to handle the huge influx of traffic late last year, is advertising an end-of-financial-year sale.

The site operated a Mother’s Day sale earlier this year and the event went off without a glitch, although a number of retailers opted not to be involved.

Despite this, the online business has managed to convince a number of well-known Aussie brands to participate in its June “mega sale”.

To lure shoppers back, Click Frenzy has introduced “sprint sales” within the main event, so users can see new deals going live during the sale.

Shares up on open

Australian shares have defied world markets this morning, opening slightly higher despite falls around the world.

The S&P/ASX200 was up 16.1 points to 4685.7 this morning, as the healthcare sector was up 90.3 points just after midday.

Overnight the Dow Jones dropped 0.94%, losing 139.84 points to 14,659.56.

The Australian dollar is currently trading at US92.6 cents.