Liverpool

Canterbury Leaguers Club have unveiled their ambitious plans for a new National Rugby League (NRL) precinct in Liverpool.

The precinct at&nbsp;84 Memorial Avenue, Liverpool, spanning over 80,000 sqm, is set to become a world-class facility that will boast a state-of-the-art stadium, training facilities, and community spaces.

In a battle of interests, Liverpool City Council has come to a head with the club over the proposed lifestyle, entertainment and recreational precinct worth a staggering half a billion dollars on the outskirts of the city.

Canterbury Leagues Club has engaged a team of consultants, including&nbsp;Zhinar Architects and&nbsp;GAT &amp; Associates,&nbsp;to prepare a Planning Proposal to create an amendment to Schedule 1 of the Liverpool Local Environmental Plan 2008 to allow for the 10-building project, earmarked to&nbsp;accommodate 1150 apartments, 44 serviced units, 150 hotel rooms, up to 1000 sqm of commercial space and a registered club.

However, the proposal has been met with significant resistance from Liverpool City Council, leading to a potential stalemate, with the council rejecting the plans in March 2022 stating the proposal, "engendered an “out of centre” development that had potential to undermine planned residential and commercial growth in the city centre" along with noting reduced walkability issues.&nbsp;

The project would involve rezoning the area to allow for building heights of up to 77 metres, a significant increase from the current maximum of 21 metres, with the proposed buildings ranging in height from 37 metres to a towering 77 metres.

Canterbury Leagues Club has however made an audacious move in calling for the New South Wales Planning Department to overturn Liverpool Council's refusal of its rezoning application for the major redevelopment, stating&nbsp;"the precinct is not intended or designed to compete with the Liverpool City Centre, but rather be a destination precinct in its own right."

GAT &amp; Associates also noted in their planning proposal on behalf of the club that “the development is conceived as a lifestyle, entertainment and recreational precinct providing entertainment and recreation uses that are not found within the Liverpool City Centre, while also providing residential and limited commercial uses."

The plans also propose upgrades to the existing open spaces around the site, as well as new pedestrian links, which would alleviate some of the council's issues.&nbsp;

<img alt="Artist impression of the proposed precinct. Credit: Tim Throsby" data-entity-type="file" data-entity-uuid="19efa6d2-6d22-4fed-a17c-16e449c5c062" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-02-21%20at%2010.45.14%20am.png?VersionId=KX1H0THDH.e2OCQPM4sIUVF_5x0xyz2j" /> 
Artist impression of the proposed precinct. Credit: Tim Throsby.

<h2>Revolutionary Design</h2>

The site is part of a greater block of land known as Woodward Park with the subject land being directly on the corner of Memorial Avenue and Copeland Street and is positioned as the western gateway for the Liverpool City Centre.

The site is to be broken into three precincts: a club/hotel precinct, a western residential precinct and an eastern residential precinct.

The eastern residential cluster is located on the corner of Memorial Avenue and Copeland Street and will serve to provide a legible built form marker on this prominent corner. This site is the smallest in site area. The intended design is for five separate residential flat buildings with a shared central communal open space, with some buildings to provide rooftop gardens that will receive excellent solar access.

The western residential cluster similarly intends for five residential flat buildings, a central communal area and rooftop gardens.

A boulevard is intended to provide a direct linkage from the City Centre, over a new pedestrian footbridge, through the centre of the site to Hillier Oval and the Whitlam Leisure Centre. This boulevard is supported by limited commercial floor space to provide an active street.

The precinct's design is set to revolutionise the way sporting facilities are constructed in Australia. The state-of-the-art stadium will have a seating capacity of 45,000, making it one of the largest stadiums in the country. The unique bowl design will ensure that every seat in the house provides an unobstructed view of the game.

The stadium will have a retractable roof, allowing games to be played in all weather conditions. The precinct will also have a community sports centre, featuring indoor and outdoor sporting facilities, available to the community for use.

<img alt="Artist impression of the proposed precinct. Credit: Tim Throsby" data-entity-type="file" data-entity-uuid="7e948042-fd89-4df2-9b32-ef1cd3f910ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-02-21%20at%2010.44.04%20am.png?VersionId=3Qvr5QOaF3V7pUYbeMphgBZDMzsuCuRd" />Artist impression of the proposed precinct. Credit: Tim Throsby.

<h2>Economic benefits</h2>

The precinct is expected to generate significant economic benefits for the local community, with an expected $300 million injection into the economy. The project is also expected to create over 2,000 jobs during the construction phase, and over 1,000 ongoing jobs.

The precinct's location in Liverpool has been chosen strategically, with the aim of driving investment and growth in the area. The development is set to become a hub for sports, entertainment, and community activities in the region.

<h2>Environmental sustainability</h2>

The precinct's design incorporates environmental sustainability features, including solar panels, water recycling, and efficient lighting systems.

The project aims to be carbon neutral, with the goal of reducing greenhouse gas emissions and minimising the impact on the environment.

<h2>The 10 year plan to move Liverpool forward</h2>

With the City of Liverpool setting its sights on a prosperous and sustainable future, releasing its long-term Community Strategic Plan, Growing Liverpool 2023, it is believed the two sides will be able to reach a solution, with the Community Strategic Plan outlining a vision for the city, focusing on the promotion of a thriving economy, the creation of a safe, healthy and liveable urban environment, and the development of sustainable infrastructure that protects and enhances the natural environment.

The proposed planning proposal, which is currently under consideration, is seen as a step in the right direction towards achieving these goals. In particular, it is believed that the proposal aligns well with the strategies outlined in the plan, including the promotion of high-quality development, the creation of local employment opportunities, and the establishment of a sustainable development that complements the natural environment.

The precinct will intend to host community events, festivals, and other activities to promote community engagement and involvement.

Furthermore, the development is expected to provide a safe and healthy environment for future residents, pedestrians, and users of the recreational facilities, such as the Whitlam Centre and Hillier Oval, which are located adjacent to the proposed site.

<img alt="Artist impression of the proposed precinct. Credit: Tim Throsby" data-entity-type="file" data-entity-uuid="6701c014-7be3-4d03-9a09-fb5106da6ba1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-02-21%20at%2010.48.00%20am.png?VersionId=DWoRKQ0ikJBDg45M1QS.0teMS05KIupN" /> 
Artist impression of the proposed precinct. Credit: Tim Throsby.

<h2>Transport connections</h2>

The site is in a well connected location in terms of both public transportation and road infrastructure. For public transportation, the Liverpool Railway Station is 800 metres to the east of the site, with three separate rail lines servicing the station.&nbsp;

The rail network provides direct services to the Sydney CBD and other major centres including Parramatta, Blacktown, Bankstown and Strathfield. The Liverpool-Parramatta Transitway is to the west of the site, with a bus stop within 400 metres, which provides access to key local and regional centres via Sydney’s bus network. A bus stop is located along the Memorial Avenue frontage that provides direct access to the Liverpool Railway Station and Westfield Liverpool and western suburbs.

[smartcode_project_cta:default project_id=138759]

Liverpool City Council has come to a head with the club over the proposed lifestyle, entertainment and recreational precinct worth half a billion dollars on the outskirts of the city.

alisonwarters@gmail.com

Canterbury Leagues Club seek to skip Liverpool Council refusal for $500 million precinct development

Developer&nbsp;Australasian Property Group has submitted plans for a&nbsp;31-story residential tower on one of Liverpool's most sought-after streets.

Located in Sydney’s growth corridor in the west, near the new airport, the $133 million development at 402 Macquarie Street which will have a mix of apartments and hotel rooms.

Designed by Olsson Architecture, there will be 168 apartments and a 198-room hotel, as well as a range of communal spaces, a gym, and ground-floor retail space.&nbsp;

Taking advantage of a regulatory loophole that will allow it to sidestep building height restrictions in the area, the mixed-use tower will be a welcome addition to the suburb, which has experienced a lack of housing supply in recent times.&nbsp;

<img alt="Render of the proposed Liverpool tower " data-entity-type="file" data-entity-uuid="f5c7936d-659f-414f-95b6-1bce84944ea0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-02-03%20at%205.27.55%20pm.png?VersionId=M_62fUR5ctdNfD4esJEENBCY_QuWaEsK" />

The group were able to navigate around planning restrictions by including the space for the hotel, under a bonus scheme plan that states if 20 per cent or more of the gross floor area serves as a hotel, existing height restrictions may be exceeded. &nbsp;

Future residents will not only benefit from the in-house residential amenities proposed, but also from the features planned for the hotel, which include conference facilities, offices, a restaurant, dining rooms, and a bar.&nbsp;

The hotel will span from level two through to seven, with the apartments from level nine through to level 29.

A mix of floorplans will be on offer in the tower, with one, two and three-bedroom apartments planned.&nbsp;

A communal rooftop space will crown the tower, complete with resident's lounges and alfresco dining space, with extensive landscaping also planned for the space.&nbsp;&nbsp;

Designed by Olsson Architecture, there will be 168 apartments and a 198-room hotel

Plans lodged for 32-storey Liverpool apartment tower 

Marking the fourth and final release in Coronation Property’s urban renewal project The Paper Mill Precinct, The Foundry reimagines riverfront living at the revered Liverpool address.

Offering a variety of designer high-rise residences and ground floor laneway apartments, the residences are set amongst lush landscaping, complete with a fully equipped Techno-Gym gymnasium and rooftop terrace featuring an infinity pool and exclusive resident gardens.

[smartcode_project:default project_id=5847 project_image_fid=200460]

Designed by an award-winning architecture team in SJB, The Foundry is home to a collection of one, two and three-bedroom apartments.

Starting from $497,000, the one-bedroom apartments are perfect for first home buyers or investors. Spanning from 53 sqm to 58 sqm of internal and external space, and offering a variety of floorplans that include either an additional study space or a media room, these apartments offer buyers that little extra needed space.

Each of the apartments are equipped with an entertainer’s balcony, along with engineered floorboards, spacious built-in wardrobes, internal laundries, quality DeLonghi appliances and premium joinery and finishes.&nbsp;

[smartcode_project:default project_id=5847 project_image_fid=200500]

Following an open-plan design, each of the residences are intentionally designed to celebrate the natural surroundings, be it overlooking the river or, views towards the city and the mountains.

With a contemporary facade that pays homage to the site’s rich history, The Foundry is constructed from a mix of masonry and forecast elements in a nod to the heritage and original brick buildings from the site.&nbsp;

Expressed as three separate elements, the building is structured around a predicated void and landscaped ground floor atrium that soars up through the centre of its 17 storeys.&nbsp;

[smartcode_project:default project_id=5847 project_image_fid=206087]

Opening out on top of the building is the 1200 sqm rooftop deck, offering views to the neighbouring Georges River and beyond.&nbsp;&nbsp;

Residents of The Foundry can also enjoy living on the doorstep of one of Western Sydney’s most treasured culinary destinations, The Paper Mill Food which boasts four unique eateries and a selection of private dining and event spaces.

[smartcode_project_cta:default project_id=5847]

Designed by an award-winning architecture team in SJB, The Foundry is home to a collection of one, two and three-bedroom apartments.

Inside The Foundry's one-bedroom apartments 

Emerging Sydney-based property developer, FYVE, has released its vision for Liverpool&rsquo;s tallest DA-approved development, as the company prepares to launch sales on the project.

Branded The Liverpool by FYVE, the project is located at 26 Elizabeth Street, in the heart of the Liverpool CBD, soaring 34-storeys into the sky.

The project will feature 193 apartments, a 93-room hotel, 6,500 sqm of commercial space, and a range of ground-floor retail tenancies, establishing a new benchmark for mixed-use residential projects in the region.

<a href="https://www.urban.com.au/new-apartments/22-26-elizabeth-street-liverpool"><img alt="" height="3200" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the_liverpool_hero_0.jpg" width="2829" /></a> 
Render of The Liverpool&#39;s facade. Credit Rothelowman

According to Amen Zoabi, Founder and Managing Director of Fyve, The Liverpool by FYVE will be a defining project for the people and the city of Liverpool.

&ldquo;We&rsquo;re incredibly proud to bring this project to market, and we&rsquo;re very much looking forward to delivering The Liverpool as an unparalleled example of design and lifestyle excellence in south-west Sydney,&rdquo; said Zoabi.

&ldquo;The Liverpool by FYVE is unlike other developments, due to its mix of high-quality residential, boutique hotel accommodation, premium commercial and unique food and beverage-oriented retail spaces &ndash; with this kind of product mix unheard of in this area.

The Liverpool will be delivered with an experienced team backing the project, including one of Australia&rsquo;s leading architecture firms, Rothelowman, as well as renowned construction company, Binah.

<a href="https://www.urban.com.au/new-apartments/22-26-elizabeth-street-liverpool"><img alt="" height="880" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the_liverpool_living_1_0.jpg" width="1200" /></a> 
Render inside one of the proposed apartments at The Liverpool. Credit: Rothelowman.

&ldquo;With the city of Liverpool positioned at the gateway to the $5.3 billion Western Sydney International (Nancy-Bird Walton) Airport, due to open to passengers in 2026, the future is bright for Sydney&rsquo;s south-western capital,&rdquo; added Zoabi.

&ldquo;We&rsquo;re situated at the epicentre of the Western Sydney Aerotropolis precinct, which will become a thriving economic zone surrounding the future airport, that is set to generate tens of thousands of new jobs in the region,&rdquo; he said.

As the city of Liverpool matures into a premier destination within Sydney&rsquo;s booming Western Parkland City, homebuyers of The Liverpool will be confident knowing their purchase is underpinned by sound economic fundamentals, creating a successful long-term investment.

The prooject by FYVE will also sit on the intersection of a significant network of planned cycleways to be delivered by Liverpool City Council, both along Elizabeth Street and neighbouring streets.

<a href="https://www.urban.com.au/new-apartments/22-26-elizabeth-street-liverpool"><img alt="" height="609" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the_liverpool_living_2_0.jpg" width="1200" /></a> 
Render inside one of the proposed apartments at The Liverpool. Credit: Rothelowman.

Meanwhile, the project is located within minutes of Westfield Liverpool, Liverpool Hospital, and key local education hubs including Western Sydney University, University of Wollongong (SW Sydney campus), Liverpool TAFE, Liverpool Boys High School and Liverpool Public School.

&ldquo;We&rsquo;re expecting a wide range of purchasers to be interested in The Liverpool by FYVE, from first home buyers, local families and owner-occupiers, to savvy investors and local healthcare and education workers,&rdquo; said Zoabi

&ldquo;We know our purchasers will appreciate the amenity and quality on offer, and we can&rsquo;t wait to create this vibrant new community for them.&rdquo;

[smartcode_project_cta: project_id=24289]

The project will feature 193 apartments, a 93-room hotel, 6,500 sqm of commercial space, and a range of ground-floor retail tenancies, establishing a new benchmark for mixed-use residential projects in the region.



Fyve unveils approved plans for Liverpool’s tallest apartment tower

The Sydney developer ALAND has seen a flurry of sales at two of their Greater Western Sydney developments, as investors continue to&nbsp;look away from the regional areas and invest closer to the city.

ALAND&#39;s Greater Western Sydney projects Schofield Gardens in Schofields, near Kellyville,&nbsp;and their Liverpool development Hoxton, have seen a sharp increase in investor demand.

Data from My Housing Market found that area&#39;s such as Wollongong to the south of Sydney and Newcastle and Central Coast to the north see rental yields in the mid three percent range, when calculating the area&#39;s median property price and median rental price.

ALAND&#39;s Schofield Gardens development has investors seeing gross rental yields topping 4.7 per cent.

[smartcode_project:default project_id=29042 project_image_fid=165529]

&ldquo;What Sydney property investors don&rsquo;t realise is that they can make much more money in their own backyard than they can in regional areas, while taking advantage of what will probably be much higher capital gains,&rdquo; ALAND sales director Mark Bernberg said.

&ldquo;Sydney&rsquo;s western suburbs are ripe with investment opportunities and no shortage of rental demand.

&quot;Investing in a freshly-built apartment saves many headaches as well, with next to no maintenance required for the first few years of its life.&rdquo;

Schofield Gardens will home one-, two- and three-bedroom apartments on Grima Street, opposite Schofield&#39;s Woolworths and train station.

[smartcode_project:default project_id=29042 project_image_fid=165522]

Prices at Schofield Gardens start from $450,000 for a one-bedroom apartment with parking. Two beds are priced from $550,000 and three-bedroom apartments from $699,000. Completion is slated for mid-2022.

The Schofields Precinct was rezoned by the NSW government in 2012 and new planning controls were put in place to allow for urban development, which the government said at the time would include nearly 3,000 new homes.

ALAND are also seeing investor demand creep back in to their Liverpool apartment tower The Hoxton.

The 32-level tower in the heart of Liverpool, again a short walk from the closest train station, will home 331 apartments.

[smartcode_project:default project_id=9198 project_image_fid=164866]

One bedders in The Hoxton start from $480,000, two-bedroom apartments from $523,000 and three bedroom apartments from $677,000. ALAND also have a mid-2022 completion for The Hoxton.

In 2019, the NSW Government said that population growth for the Liverpool area was expected to increase 26 per cent over the next decade.&nbsp;

The increase in investors in Greater Sydney comes after Knight Frank Research Australian residential development review 2021 found that the&nbsp;Greater Sydney apartment pipeline is tipped to plunge by 2024 by nearly 50 per cent.

The 36,275 new apartment developments to be completed over the next three years are set to be well below the 67,925 recorded in the prior 2018-20 period.

ALAND's Greater Western Sydney projects Schofield Gardens in Schofields, near Kellyville, and their Liverpool development Hoxton, have seen a sharp increase in investor demand

Joel Robinson

ALAND see investor demand spike in Greater Sydney apartment projects

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Liverpool’s innovation credentials have been recognised on the world stage as it joins a select group of 20 global innovation precincts through the Global Institute on Innovation Districts.  
“The Liverpool Innovation Precinct was established in partnership between Council and local health, education and research institutions to harness the city’s strengths,” Liverpool Mayor Wendy Waller said.  
“By accepting an invitation to join this global network, Liverpool is now among fantastic company. Member cities include Toronto and Pittsburgh, known for their cutting-edge technology and creative industries.” 
The news comes off the back of the NSW Government’s announcement that up to 450 of CSIRO’s Sydney-based staff will relocate to a state-of-the-art facility at the Western Sydney Aerotropolis by 2026, in-line with the opening of Western Sydney International (Nancy-Bird Walton) Airport.  
“What we’re seeing through continued collaboration and investment from other levels of government and the tertiary education and private sectors is global recognition of Liverpool and the nearby Aerotropolis as cities of the future,” Mayor Waller said.  
“Global companies including Northrop Grumman, Hitachi and Amazon, top-ranking Australian universities and now the national science research agency want to call the Liverpool area home. 
“There’s a bright future ahead for Sydney’s third CBD, with all this investment in commercial operations, transport, freight and education infrastructure bringing new job opportunities for our growing city.” 
Alongside the $740 million upgrade of Liverpool Hospital, many Council-led initiatives demonstrate the power of innovation and collaboration to improve services and the city’s liveability.  
“Council’s latest example of innovation and collaboration is our support of the Maxar Spatial Challenge alongside other partners such as Amazon Web Services and the Australian Space Agency,” Mayor Waller said.  
“The national challenge, which launches this month, encourages participants to make use of satellite data to address key challenges such as mapping population density or an area’s tree canopy which could help reduce the urban heat island effect.  
“Other innovative Council initiatives include a project to track the movements of people in the Liverpool CBD to better inform planning decisions and our Fifteenth Avenue Smart Transit (FAST) Corridor vision for a rapid transit corridor which could be future-proofed for new technologies such as driverless electric buses and trackless trams.”
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Liverpool recognised globally as city of innovation  

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A mortgagee in possession home in New South Wales’ Liverpool is set for auction.
The three-bedroom, one-bathroom home sits at the heart of Liverpool with major amenities only minutes away.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-08-17%20at%204.28.43%20pm.png" alt="">
Located at 70 Medley Avenue, the home is centrally located and within reach of Westfield Liverpool.
Set on 512 square metres, the property offers a low maintenance backyard and plenty of storage.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-08-17%20at%204.28.54%20pm.png" alt="">
The property last traded for $387,000 in 2005.
The median house price for Liverpool is $760,000, according to CoreLogic data.
Raine &amp; Horne’s Vince Labbozzetta holds the listing.
The home is set to go under the hammer on Saturday, September 12 at 11.30am.
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Liverpool mortgagee home set for auction

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A $180 million proposal for a mixed-use tower in Liverpool has been given the green light by the Sydney Western City Planning Panel.
Binah Developments’ 34-storey mixed-use proposal at 22-26 Elizabeth St will include a 113-room hotel, 179 residential apartments, a ground-level food and beverage area, rooftop restaurant and 5500 square metres of A-grade office space.   
“This development is one of $1 billion worth of major projects approved or under assessment, triggered by the rezoning of 25 hectares in the CBD in 2018 to allow mixed-use development,” Liverpool Mayor Wendy Waller said.  
“The 34-storey tower will become the tallest in the Liverpool city centre, activate a busy main street and provide much-needed hotel accommodation, as well as significant commercial space in the fast-growing capital of South West Sydney.” 
Designed by Rothelowman Architects, construction is expected to start in 2022, providing 100 jobs during construction and an estimated 400 jobs once complete.   
“Building on our city’s great bones, Council’s detailed Public Domain Master Plan will guide the city centre’s transformation at street level, moving towards a greener and more attractive streetscape with wider footpaths, dedicated cycleways, more vegetation and public art among the many improvements to come.  "
“Council’s own $400 million Liverpool Civic Place mixed-use precinct on Scott Street, to be jointly developed by Council and Built, will anchor the southern end of the city centre and provide new public spaces, community facilities and job opportunities. "
“The early works DA for the FJMT architects-designed proposal has been approved and when complete the precinct will feature new Council offices, Council chambers, an early education centre, a new state-of-the-art city library, commercial and retail spaces, a hotel or student accommodation building and public parking,” Liverpool Mayor Wendy Waller said.   
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Mixed-use tower approved for Liverpool city centre 

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A Liverpool commercial office building has sold for $52.5 million to an investment group from China.
It's the highest every property sale in Liverpool.
The block at <a href="https://www.commercialrealestate.com.au/property/211-northumberland-street-liverpool-nsw-2170-2015756170" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/AHqZC81V1xhLWOxAH1SEax?domain%3Decomms.raywhite.com&amp;source=gmail&amp;ust=1582841778809000&amp;usg=AFQjCNH5OYxNT7pmwSwsJ8ZhzeH-0V16nw">211 Northumberland Street</a> was originally purchased by vendors ESR Australia as part of the Denison Portfolio, that also included a building in Campbelltown.
It was sold fully leased to the NSW Government Department – Family and Community Services – until 2022, with 7,645 sqm of net lettable area.
The building sold with an initial yield of 6.6 per cent, producing just over $3.45 million per annum.
Ray White Commercial Western Sydney agents Peter Vines and Victor Sheu secured the sale, in conjunction with Colliers International's James Barber, Frank Oliveri and John McCann.
Vines said the property was one of Centrelink’s most concentrated multi-service centres across Australia.   “We had a huge amount of interest throughout the campaign with more than 120 enquiries coming from multiple demographics,” he said. 
“With Parramatta currently booming, investors are seeking the next hot spot and given its proximity to the new airport and billions of dollars being invested in infrastructure in the South West, Liverpool is a very good option.”   Sheu said the property was an impressive commercial asset investment that came with value add potential.
“The property is a four-level commercial building that was completed in circa. 2000 and has two levels of security basement parking,” Sheu said.   “The asset offers large efficient floor plates that are light-filled and flexible. The plates are highly desirable to Government tenants with a strong retention history.   “Being in the Liverpool CBD, it provides easy access to the M5 motorway, Hume Highway and arterial roads. It’s also close to the Westfield shopping facilities.”
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Chinese investment group pays $52.5 million for Liverpool office building

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The Liverpool office market is tightly held with limited transactions occurring over the past few years, according to Ray White’s latest research.
“This is driven by a strong local investor and developer market, however, there have been limited prime assets traded in recent times,” according to Ray White Commercial NSW – Western Sydney Managing Director, Peter Vines.
 “As occupancy costs across more traditional office markets like Sydney CBD, Parramatta and North Shore have increased due to reducing vacancies, many small to medium businesses have considered suburban options, and that’s grown demand levels.
 “This has also had a positive effect on the rental environment, growing occupation costs, which has resulted in owners holding their assets.’
Mr Vines said the Liverpool office market consisted of more than 277,000sq m, across 120 buildings.
“Of these, 57 properties are identified as low-grade quasi office/retail premises less than 1,000sq m, those more traditional offerings over 1,000sq m represent 243,000sq m,” he said.
“A-grade stock represents 28.65 per cent of this total market across five larger, modern facilities within the core CBD location,” he concluded.
Ray White head of research, Vanessa Rader, said the total occupancy level of the Liverpool CBD office market was high compared to other non-traditional suburban markets.
 “Currently at 7.89 per cent, this market has enjoyed high occupancy due to significant local demand and growing interest in Liverpool as a CBD location,” Ms Rader said.
Ms Rader said when the rental levels of office product across Western Sydney were considered, the strong values achieved in Parramatta CBD were highlighted, and that showed the issue of affordability for many small and local businesses.
“As the Sydney CBD rents exceed $1,200psqm gross on an average basis, many larger occupiers have sought the affordable, yet quality, modern offerings in the Parramatta CBD, resulting in strong increases over the past five years,” she said.
Extensive investment in public transport and infrastructure over the last decade has allowed the Western-Sydney region to enjoy continuous economic and population growth.
 
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