Major construction begins on $2.4bn Parramatta Square development
The sod has been turned to signal the start of major construction works on the $2.4 billion Parramatta Square development in New South Wales.
Parramatta Square is set to become Sydney’s second CBD, featuring four major towers that will have a total of 250,000-SQM of A-Grade office space as well as retail, restaurants, bars, cafes and open space. The new towers are going to be the workplace for to up to 23,500 people and the amenities of Parramatta Square’s restaurants and bar precinct are expected to attract more people.
Approvals for three of four towers are already in place, with the final approval expected to be given early next year.
L-R: David Borger, Director Sydney Business Chamber; Lord Mayor of Parramatta, Andrew Wilson; Lang Walker; Minister Victor Dominello MP; Dr Geoff Lee, Member of NSW Legislative Assembly; Brett Newman, CEO Property NSW (source: Walker Corporation)
The NSW Government has pre-committed approximately 62,000-SQM within Tower 4 and it is the first tower to begin construction. Built, together with Obayashi Group, will begin major works later this month, with completion of Tower 4 set for late 2019.
Government employees from the Department of Planning and Environment as well as the Department of Finance, Services and Innovation, and Department of Industry will be accommodated in 4 Parramatta Square.
“The 4 Parramatta Square development would accommodate at least 4,000 public service roles from 2019.
“Our long-term lease of office space will establish Parramatta as a major public sector jobs hub, providing more opportunities for those who live in the west to work closer to home,” Minister for Finance, Services and Property Victor Dominello said.
Parramatta Square is currently the largest commercial development in the country, and it is expected to be completed by 2021.
“This is a $2.4 billion vote of confidence by Walker Corporation in Parramatta and Western Sydney and with the support of the State Government, Parramatta Square is set to deliver a world-class CBD that will be the engine room for jobs growth in the region,” City of Parramatta Lord Mayor Cr Andrew Wilson said.
Source: Walker Corporation
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