Two New Parramatta Square Towers Win Approval
Lang Walker’s AU$3.2 billion (US$2.2 billion) Parramatta Square development continues its progression, with NSW Planning giving the green light for the construction of the final two commercial towers located in the heart of Parramatta.
Towers six and eight are the latest approvals, forming part of the multi-billion urban renewal project in burgeoning Western Sydney.
The two new office buildings will comprise 125,000 square meters of space over 50 stories, with an expected end value of AU$1.7 billion (US$1.2 billion)
Spanning a 3-hectare site, the Parramatta Square precinct will deliver four towers located directly over the major transport, shopping and public spaces when completed, and comprise the largest commercial office complex in Australia.
Architectural firm Johnson Pilton Walker (JPW) created the design of Towers 6 and 8 Parramatta Square, after winning a competitive design excellence process.
Walker Corporation chairman Lang Walker expects the project will see Parramatta City rival Sydney’s CBD.
“And we are applying our experience in these sorts of major projects, following the development of Collins Square in Melbourne,” Walker told The Urban Developer.
“Parramatta Square presents us with an unrivaled opportunity to capitalize on the strength of the Parramatta office market. Parramatta has the lowest vacancy rate of any office market in Australia, and we are securing major government and private sector tenants like NAB.”
The City of Parramatta Council has ambitions to make Parramatta “Australia’s Next Great City”.
A total of AU$8 billion (US$5 billion) is pegged to be invested in buildings and infrastructure over the next four years, which is in line with the local council’s vision of seeing Parramatta rival Sydney’s CBD.
The wider precinct will also be home to the University of Western Sydney Campus.
For more on this story, go to The Urban Developer.
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