Parramatta Development

The general consensus&nbsp;among property investors is that Parramatta, Sydney's second CBD, continues to be undervalued.

Parramatta is a focal point for economic activity; the&nbsp;$27 billion economy ranking as the third largest in Australia, only behind Sydney and Melbourne.

A&nbsp;commitment to infrastructure has made Parramatta a convenient and well-connected location to work and live in, with the&nbsp;number of jobs within Parramatta’s local government area&nbsp;expected to almost double by 2036.

Some of Australia's leading businesses and government branches are making the leap to Parra with NAB, the&nbsp;Department of Education, Western Sydney University and University of NSW among them.

Parramatta is a hub of connectivity with express trains, frequent bus services and upgrades to the M4 as well as the planned Metro West line.

$3.4 billion has already been committed by the NSW government over the next 10 years to the&nbsp;Westmead Health Precinct, currently&nbsp;Parramatta’s largest employment sector.

The investment potential in Parramatta has property investors enquiring on Paramount on Parkes, the new&nbsp;tower developed by the respected local developer, ALAND.

[smartcode_project:default project_id=9187 project_image_fid=164848]

Top on a priority list for property investors is the apartment's&nbsp;proximity to transport and local infrastructure.

The 42-level tower of 294&nbsp;apartments is located&nbsp;just a five minute walk to Parramatta Station, and bordering the well-known horse racing spot of Rosehill which lights up on Saturday's with punters.

Prices start from $573,000 at Paramount on Parkes, less than the $610,000 suburb median apartment price. Two-beds range between&nbsp;$767,000 and $922,000,&nbsp;while three-bedroom apartment&nbsp;begin at $1,083,000.

Parramatta's demographic is younger than the average of Greater Sydney, with 46 per cent&nbsp;of residents aged between 25 and 39 years old, according to the most recent census data.

[smartcode_project:default project_id=9187 project_image_fid=164856]

In 2016, 71 per cent&nbsp;of Parramatta locals were renting, with 84 per cent&nbsp;of all residents living in apartments.&nbsp;

Over the last decade to March 2020, Parramatta apartments have seen six per cent capital growth per annum.

Parramatta is a focal point for economic activity; the $27 billion economy ranking as the third largest in Australia, only behind Sydney and Melbourne.




jordan_55689

Why investors are targeting ALAND's Paramount on Parkes, Parramatta apartments

Paramount on Parkes,&nbsp;a 39-storey apartment tower in on the fringe of the Parramatta CBD, is the latest development from the respected Sydney apartment developer, ALAND.

ALAND's internal team of architects and&nbsp;designers handled every aspect of the development from top to bottom, and will also deliver the construction of the building,&nbsp;to ensure a high quality apartment tower.

The Australian-owned family company has two decades&nbsp;of experience as&nbsp;a specialist builder and developer delivering contemporary residential projects representing both quality and&nbsp;value.

With a focus on a&nbsp;full-body approach to their developments, Urban has taken a closer look at the floorplans currently on offer at Paramount on Parkes.

[smartcode_project:default project_id=9187 project_image_fid=164855]

Three Bed | Two&nbsp;Bath | One Car | 107 sqm | from $1,083,000&nbsp;(pictured below)

<a href="https://www.urban.com.au/new-apartments/paramount-on-parkes-14-20-parkes-street-parramatta"><img alt="" data-entity-type="" data-entity-uuid="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/pop_3_bed.jpg" /></a>

The apartments feature floor-to-ceiling windows that&nbsp;frame&nbsp;city and district views and&nbsp;capture maximum natural light.

The covered outdoor terrace or balcony acts as an extension of the living room, opening through glass sliding doors.

[smartcode_project:default project_id=9187 project_image_fid=164856]

The kitchens are fitted with Fisher &amp; Paykel appliances, stone benchtops and glass splashbacks, and gold Grohe tapware.

All the&nbsp;bedrooms are designed with a&nbsp;neutral colour palette, with plush carpets and walk-in or built-in wardrobes.

[smartcode_project:default project_id=9187 project_image_fid=164857]

Residents at Paramount on Parkes will also have access to&nbsp;a number of amenities, from the&nbsp;swimming pool and manicured gardens on the podium level to a&nbsp;rooftop terrace and kids play area.

The&nbsp;design of the striking tower was inspired by the meandering Parramatta River.&nbsp;Entry to the development is through a grand lobby, which features soaring ceilings, marble finishes and statement lighting, reflecting that of a luxury hotel.

Construction is forecast for completion by late-2023.

The apartments feature floor-to-ceiling windows that frame city and district views and capture maximum natural light.

max.kwok_55688

Inside ALAND's Parramatta apartment development, Paramount on Parkes

Sydney&#39;s second CBD&nbsp;is set for a new modern mixed-use precinct on the foreshore of the Parramatta River.

Plans have been lodged by&nbsp;Hamptons Property Services&nbsp;for 273 apartments across three 14-level towers at 10-12 River Road West. There will also be&nbsp;commercial and retail space on the ground floor.

PTI Architecture has designed the facade with the concept of &quot;waves on the river&quot;, with facade materials including glass, powder coated aluminium, pre-finished&nbsp;brick, and formed concrete.

&quot;The use of the various bronze aluminium trim thicknesses on the curved balcony edges produce a gradient effect that is intended to mimic the sunlight reflecting off the ripples on the Parramatta River,&quot; PTI Architecture&#39;s design statement, signed off by head architect Peter Israel, read.

There&#39;s a vertical slot in the balconies which provide a physical and visual break in the mass, giving the facade an appearance of smaller vertical blocks.

<img alt="" height="841" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/10-12_river_rd_west_parramatta_3.jpg" width="1200" /> 
The mixed-use development on the banks of the Parramatta River. Source: PTI Architecture

There will be 60 one-bedroom apartments, 184 two-bedroom apartments and 29 three bedders.

The site is subject to a Voluntary Planning Agreement which involves dedication of a portion of the foreshore land to Parramatta City Council. The remaining site area would be 6,289 sqm, with 1,992 sqm of the foreshore&nbsp;dedicated to Council.

<img alt="" height="838" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/10-12_river_rd_west_parramatta_5.jpg" width="1200" /> 
Nearly 2000 sqm of the foreshore will be dedicated to Council. Source: PTI Architecture

There&#39;s integrated seating with landscaped planter boxes over the basement car parking at the ground floor level to increase soft landscaping areas as an addition to the Public Domain.

TGS Landscape Architects have also designed landscaped planter boxes on the communal roof top spaces&nbsp;of each building to improve amenity for residents.

The 8,281 sqm combined site comprises 10 and 12 River Road West. Number 10 is&nbsp;currently occupied by various single storey shed used for industrial purposes, while number 12&nbsp;is currently vacant with an existing concrete basement structure as the remnants of a vehicular wrecking yard that previously occupied the site.

PTI Architecture has designed the facade with the concept of "waves on the river".

Joel Robinson

New mixed-use precinct set for the Parramatta River

<html><body>
Three adjoining properties in Parramatta have been listed as a potential parkland development site with a $13.8 million asking price.

The 14 Pitt Street holding is a two-storey brick block of four home units with resident parking.

The 16 Pitt Street holding is two-storey brick block of four home units with resident parking and 18 Pitt Street is a three-storey office building with ground floor parking built in 1994.

Nearby projects

[smartcode_project:default project_id=8590]

All up there is a combined 1,886 sqm, set 750 metres from Parramatta Transit Interchange Station.

CoreLogic Cordell Connect advised they were for sale at an asking price of $13.8 million through Knight Frank Sydney West.

There is an estimated potential GFA of 8,487 sqm* (STCA).
</body></html>

All up there is a combined 1,886 sqm, set 750 metres from Parramatta Transit Interchange Station.

jchancellor

Development opportunity: Three adjoining Parramatta properties listed for $13.8 million 

<html><body>
The City of Parramatta Council has approved plans to build a 25-storey apartment building in Granville, set to be delivered by Chinese developer Starryland.

Located at 26-38 Good Street and 59-61 Cowper Street, the developer acquired the amalgamation of commercial sites from private owners for $36 million.

The 5,150sqm mixed-use site will offer 373 residences, along with residents’ communal gardens, barbeque facilities and 1,171sqm of retail space.

The developer, an Australian division of the Chinese publicly listed company Fuxing Huiyu Real Estate, has previously worked on projects within the Parramatta CBD, including the $550 million sold-out Promenade at Parramatta project.

According to Starryland’s managing director Hao Liu, Granville is considered an undervalued suburb in the Parramatta region.

“[It] is predicted to one of the upcoming Sydney hotspots”, Liu said.

The project aims to set a benchmark for quality design and finishes in Granville, sales manager James Swete said.

Situated in close proximity to the Granville train station, the project will focus on providing affordably priced apartments targeting first home buyers and young professionals.

“We don’t want to compete in apartment-heavy suburbs with expensive units", Liu said. "Which is why we believe in the areas in Sydney’s west which need more homes.”

Granville, which boasts some of the most affordable house prices in Sydney, has seen growing developer competition with the presence of multiple projects in recent years. According to Liu, not only will this competition this place Granville on the housing map, but it will pave the way for better sales for Starryland's new development.

The project will be designed by PBD Architects, who were assigned to the project after participating in a competitive design process involving three nominated architects.

<h2>Other projects designed by PBD Architects in Greater Sydney</h2>

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/KwiYcb9bbdI" width="560"></iframe>

<a href="https://www.urban.com.au/new-apartments/kew-schofields-stage-2--georgette-23-27-schofields-road-schofields" target="_blank">Georgette, Kew Schofields</a>

Located in one of Sydney’s newest suburbs, Kew Schofields offers a harmonious living experience, balancing privacy with the north-west region’s endless employment opportunities.

Similarly designed by PBD Architects, Kew Schofields’ second stage, Georgette, offers contemporary design, functional storage and interior spaces designed to become the “perfect backdrop to home and family life,” PBD writes.

<a href="https://www.urban.com.au/new-apartments/kew-schofields-stage-2--georgette-23-27-schofields-road-schofields" target="_blank"><img alt="" height="628" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kew-schofields-stage-2-27-schofields-road-schofields-ff94cf047ee9db640ae8e3661936bf61.jpg" width="1200"></a>

The master-planned community offers 2,700sqm of retail space, parks and recreational facilities, with one and two-bedroom configurations priced from $428,000.

Georgette is expected to reach completion late this year.
</body></html>

Designed by PBD Architects, the 5,150sqm mixed-use site will offer 373 residences, residents’ communal gardens and 1,171sqm of retail space

Parramatta Development

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Parramatta Development

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News