JQZ secure South Quarter, Church Street, Parramatta site for next apartment development
Sydney developer JQZ has paid $110 million for the South Quarter site in the heart of Parramatta, the former project mooted by now collapsed developer Dyldam.
They've secured the former Auto Alley at 57-83 Church Street, which has plans in place for a mega development with over 750 apartments and around 40,000 sqm of retail and commercial space.
Five towers were part of the original application, one of which was set to home an international branded hotel. No word from JQZ if they'll be pushing on with the $876 million project exactly as Dyldam had intended. The plans had towers ranging from 10 levels to 42 levels.
They'll no doubt stick to Dyldam's application to weave community parks throughout the huge 1.4 hectare block which is just 450 metres from the Parramatta Rail and Bus Interchange and 260 metres from Westfield Parramatta.
CBRE, Colliers International, and Moxham Commercial, sold the site to JQZ recently.
They marketed the project as an "outstanding opportunity for an incoming developer to secure a large scale, approved, mixed use development site at the southern gateway into Parramatta CBD."
Allen Jack + Cottier designed the plans for Dyldam, noting in the submission that the concept design reinforces the “gateway” location and provides a distinct sense of arrival from the south to the Parramatta city centre through the scale, form, and architectural design of the development.
They said the residential component of the development, which is over 64 per cent of the total gross floor area, will support the economic viability of the retail uses and the viability of local businesses beyond the subject sites.
JQZ, who recently completed 88 Christie in St Leonards, are soon to launch stage two of Lidcombe's $560 million Vivacity project which will have nearly 600 apartments.
Their website says they've successfully completed 18 residential projects across Sydney.
