Developer secures three stages of $2 billion Parramatta Square development

Following an exhaustive selection process, Walker Corporation has been chosen by Parramatta City Council to complete Stage Two, Five and Six of the $2 billion Parramatta Square project. The developer will transform the Parramatta skyline with three landmark buildings worth $1.2 billion.

Stage Two, the centrepiece of the development, will develiver the Aspire residential tower, slated to rival the tallest buildings in Australia. Walker Corporation will also develop Stages Five and Six - twin 53 storey commercial towers.

Development applications for Stage Two, Five and Six of Parramatta Sqaure should be lodged by the end of the year. The sites, owned by the Council, will be handed to Walker Corporation in September. Full demolition of the existing buidlings on site is likely to be completed early next year. A spokesperson for Walker Corporation reported that all three projects could be completed by 2019. Negotiation is still underway with the Federal Civil Aviation Safety Authority to allow Aspire - Sydney's highest residential tower at 68 storeys, to exceed the flight path ceiling and reach a potential 90 storeys. 

PARRAMATTA SQUARE

Parramatta Square is one of the largest urban renewal projects in Australia. It is set to transform Parramatta’s core into a vibrant mixed-use hub, accommodating a substantial new public domain with more than 240,000sqm of mixed-use development and new Council facilities.

Located in the heart of the CBD, the three hectare site is set to reinforce Parramatta’s position as a dual CBD with the same status as the City of Sydney.

STAGE ONE – 26,500M2 - CONSTRUCTION UNDERWAY

• A $220.5 million commercial tower, which will be a new campus for 10,000 University of Western Sydney students

• Leighton Holdings (through its company Leighton Properties) and Charter Hall officially commenced construction on One Parramatta Square (1PSQ) in late February 2015

• 1PSQ, owned by two of Charter Hall’s managed funds, is being developed by Leighton Properties and constructed by John Holland

• Due for completion in late 2016 for the first semester of University in early 2017

STAGE 2 – 70,000M2 - WALKER CORP SELECTED

• An Expression of interest to identify a preferred developer for the mixed-use residential tower, known as Aspire, was issued in September 2014

• There were four shortlisted developers: Centurian Custodians, Dyldam, Leighton Properties and Walker Corp.

• The Aspire Tower is a proposed 90-storey mixed use tower of 700 apartments, 150 key hotel, ground level retail, a sky deck and experience centre

STAGE 3 – 26,000M2

• Current Australia Post site. DA approved to demolish.

• Commercial and Community Facilities – 24,000sqm 5 Green Star office tower, 7,000sqm 5 Green Star Public Facilities including Civic Building, Community Centre and Library

STAGE 4 – 5000M2

• Concept design only at this stage.

• 5 Star Green Star mixed use retail and commercial building central to the Parramatta Square Public Domain

• Vision for this space is still in progress

STAGE 5&6 – 140,000M2 - WALKER CORP SELECTED

• Dual Commercial 5 Green Star Office Towers

• Expression of interest to identify a preferred developer was issued in September 2014

• Walker Corporation announced as preferred developer today