Iconic Parramatta Gateway Development Opportunity

Iconic Parramatta Gateway Development Opportunity

A substantial development site (STCA) at Parramatta in the heart of western Sydney with plans submitted for a residential/commercial tower is being offered for sale by Ray White Commercial NSW in conjunction with Matrix Property Group.

The 1,493 sqm site at 26-30 Parkes Street, Parramatta, is being marketed via Expressions of Interest by Jeff Moxham and Samuel Hadgelias of Ray White Commercial NSW and John Chancellor, Andrew Antonas and Helen Xu of Matrix Property Group.

Jeff Moxham said the property comes with two plans for a residential/commercial tower for up to 22,702 sqm of GFA which have been lodged with Parramatta City Council.

“The plans for this high profile corner location at the entry to the Parramatta CBD have been prepared by the award winning team of Stanisic Architects and JBA,” he said.

“The options submitted to council are for an approximately 35 storey tower featuring 218 residential units and three storeys of commercial space. The other option is for an approximately 45 storey tower. Both options have a three storey commercial podium, two storeys of communal space above the podium and a residential tower that addresses both Parkes Street and Harris Street.

“The site is identified as an ‘Opportunity Site’ as part of the Parramatta CBD Planning Proposal which was endorsed in April, 2016. Such opportunity sites have been earmarked based on their location, to encourage significant development upside above standard controls.”

Mr Chancellor said the site offers uninterrupted views towards the Sydney CBD from the upper levels and overlooks the attractive parkland of James Ruse Reserve.

“Western Sydney has been outlined by successive State Governments as crucial to the growth of the city of Sydney and Parramatta in particular continues to be a highly compelling investment hub for domestic and international developers,” he said.

“High end business and government departments in the area include Deloitte, Suncorp, Commonwealth Bank, GE, Sydney Water, RMS, Colonial First State, Teslstra, QBE, NRMA and the NSW Police Headquarters.”

Expressions of Interest close at 3pm (AEST) on Tuesday 12th July 2016.

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