How the small western suburb of Merrylands is undergoing a drastic gentrification
Almost every Sydney suburb, at one time or another, will go through its gentrification phase.
Surry Hills was traditionally a working-class area in the 1980s and 1990s before it gentrified to the point that buying into the suburb has become out of reach for the majority.
The likes of the adjoining Redfern, Newtown and Darlinghurst have all been subject to gentrification over the last few decades, resulting in significant growth in property values.
Now seems to be the turn of Merrylands, the small suburb next door to Parramatta.
Research from property data analytics firm CoreLogic suggests property in Merrylands, and the adjoining Guilford, has been the strongest performing suburb in any Sydney suburb, at the top of the food chain with the southern end of the Eastern Suburbs.
Their data suggests dwelling values, which incorporate both houses and apartments, have risen just shy of 15 per cent in the 12 months to April, significantly higher than the 9.6 per cent growth Sydney-wide over the same period.
Buoyed by their involvement in the growing area is diversified property developer Coronation Property Group, who is well advanced in the construction of their $650 million Merrylands masterplan, Mason & Main.
Mason & Main has been designed to be the leader of gentrification in the area, with not only an influx of well-designed apartments by Woods Bagot, but to create a central precinct that goes beyond the four walls of the home.
The five towers, a mix of build-to-rent and build-to-sell, will sit above a cool 'Eat Street', which is expected to be open later this year, with a string of yet-to-be-announced hospitality venues and retailers set to create an all-round lifestyle hub for both residents of Mason & Main as well as the wider community.
Coronation already announced the tenancy of One Playground, the popular nightclub-like workout venture that has gyms in Newtown and Marrickville.
A big driver in gentrification is how connected a suburb is. The more well-connected the suburb, the more likely population will grow. And with population growth comes investment.
Coronation has long known the importance of developing in a connected suburb. Mason & Main is less than 400 metres from Merrylands Station, which is one stop from Parramatta Station and a short-minute commute into Central Station.
Everything is at the foot of the masterplan. Stockland Merrylands, with 180 retailers and anchored by a Woolworths, Coles, Aldi and a Kmart sits behind the project, while the Merrylands RSL, Billabong Hotel, and Merrylands best restaurants, are all centred around the heritage-listed train station.
North of Mason & Main is Holroyd Gardens Nature Reserve, home to a number of playgrounds, bicycle training track, picnic areas and walking trails, while Merrylands Park and Granville Park give further nature options.
One, two and three-bedroom apartments are selling at Mason & Main, and are catching the attention of every market, from first home buyers and investors to young families and downsizers.
