Spring Square by Poly: In the heart of Bankstown's $2 billion CBD redevelopment
Renowned developer Poly Global is nearing completion of its transformative master plan development Spring Square by Poly, an exciting investment opportunity nestled in the lively suburb of Bankstown.
Located on a 46,400 sqm site at 32 Kitchener Parade at the site of an old RSL, the Scott Carver-designed Spring Square comprises 516 apartments across five towers over significant retail and commercial space.
Spring Square is strategically positioned within the evolving health precinct of Bankstown. As the region undergoes significant transformation, the development is poised to become a key player in supporting the growing healthcare needs of the community.
The $2 billion redevelopment of the Bankstown CBD will see it become the hub of the west.
The City of Canterbury Bankstown is committed to a $1.3 billion development of health services in Bankstown, including the construction of a new hospital, with expected completion in 2029. It will become a leading link between other health precincts in the region, connecting areas like Liverpool, Randwick, Westmead, and St George.
The new $340 million high-rise Bankstown City campus of Western Sydney University in Bankstown adds another layer of appeal to Spring Square.
The 18-storey campus comprises 26,000 square meters of state-of-the-art facilities with a focus on technology-rich learning environments.
The Bankstown City campus will offer undergraduate and postgraduate courses in various fields, including teacher education, psychology, arts and humanities, business, accounting, IT, and non-clinical health areas.
The curriculum and facilities are tailored to address the needs of the fast-growing Canterbury-Bankstown and southwest Sydney regions, with a focus on health, advanced manufacturing for small and medium enterprises, and education.
The Bankstown City campus is expected to deliver approximately $140 million a year in additional economic uplift to the Canterbury-Bankstown and Western Sydney region.
Further contributing to the investment proposition is Australia's prominent retail property group Vicinity Centres' $1 billion investment in the Bankstown region.
Vicinity Centres envisions a 30-year redevelopment plan for 11.4 hectares of central Bankstown, aiming to create a mixed-use urban neighbourhood.
The project, known as Bankstown Central, includes the addition of at least 19 towers around the existing central shopping centre.
The early plans for the $1.3-billion redevelopment include 1255 residential apartments, 439 hotel rooms, 694 student accommodation units, about 90 serviced apartments, 120,000 sqm of commercial space, and 15,000 sqm of new retail.
The existing shopping centre, built in 1966, houses anchor tenants such as Myer, Target, Big W, Kmart, Woolworths, Dan Murphy’s, and Coles.
The redevelopment is expected to bring economic benefits, with the potential to generate an additional $88 million in retail spending, supporting existing retailers and new local businesses.
Situated at the northern end of Bankstown's commercial precinct, Spring Square by Poly is also strategically positioned to benefit from the renewed Canterbury-Bankstown to Sydenham corridor and the new Sydney Metro train line, just 300 metres away.
Sydney Metro aims to deliver quick and reliable turn-up-and-go services between Sydenham and Bankstown by late 2025.
Infrastructure spend tends to lead to increased price growth, which is why investors have turned their eye to Spring Square by Poly, which in itself is a mini community with extensive retail and commercial spaces.
The masterplan features retail shops, a 684 sqm health services facility, a childcare centre, and a spacious basement car park with 714 parking spaces.
Residents of Spring Square will enjoy communal spaces, interconnecting walkways, and green parks, fostering a sense of community and well-being. The inclusion of a garden, small cafes, bars, and outdoor al fresco dining options adds to the lifestyle appeal of the development.
