Metro West to spark new round of tower developments at Parramatta, Olympic Park

Fresh plans have been revealed for developments up to 45 storeys at proposed stations at Olympic Park and Parramatta. SEE THE PICTURES

Big developers are eyeing fresh opportunities for over-station developments which have been proposed along the new Sydney metro west line, with fresh plans revealed for Parramatta and Olympic Park.

Plans for the Parramatta metro station development reveal a maximum gross floor area of 200,000sq m.

It will comprise four buildings which will replace the former City Centre car park located between George Street, Church Street, Smith Street, and Macquarie Street.

Building A will be 38 storeys high with 77,000sq m of commercial space and 3000 sq m for retail.

Building B with be 33 storeys with 17,000sq m of residential space and 1000sq m of retail. Building C will comprise 28 storeys of pure commercial space, and Building D be 25 storeys of mostly commercial space and 2000sq m of retail space.

And the designs will not go unnoticed.

“The new buildings will need to exhibit design excellence to the highest standard and sensitively incorporate heritage sites, including the Roxy Theatre and long-planned projects such as the Civic Link,” Ms Davis said.

Developers will also chase the opportunities at the Sydney Olympic Park metro station.

The over-station and adjacent development will see three buildings, comprising 21, 27 and 45 storeys built to provide commercial, retail and residential space.

All up they will span about 68,000sq m space, almost half of which will be for residential use. About 30,440sq m will be kept for commercial, with smaller associated retail and community elements.

A digital sketch of the power buildings that will comprise Parramatta Metro Station.

Both hubs are being billed by authorities as kickstarting development in the areas, with their scale to match forecast demand for space.

The developments, each comprising commercial and residential towers, will add to the supply of offices and housing as demand is predicted to surge as the line opens.

The Parramatta project will be among the area’s largest and will intensify already stiff competition among big developers for tenants with projects being proposed by listed groups including Scentre, Mirvac and GPT.

All up, the metro west line will see the development of at least nine other stations including Pyrmont, Five Dock, The Bays Precinct, Burwood North, North Strathfield, Sydney Olympic Park, Parramatta and Westmead.

Along the line, Parramatta will be a key station, as developers and local councils continue their pursuit of Sydney’s second CBD.

“It will support the transformation, expansion and economic growth of Parramatta through a well-designed station and precinct,” a spokesman for Sydney Metro said.

Parramatta mayor Donna Davis also welcomed the change to what she believed was the key geographical centre of global Sydney.

“The City of Parramatta is going through a period of unprecedented transformation,” she said.

“With the city’s workforce and population set to grow significantly over the next 20 years, I welcome both private and government investment in our city to ensure we are able to support this growth and embrace the opportunities that come with it.”

GPT Group chief executive Bob Johnston, whose company owns sites in Sydney Olympic Park, said two of the trust’s sites were compulsorily acquired.

“We do then have sites adjacent to that infrastructure that we will be able to redevelop,” he said. But he flagged the extended time frame with the infrastructure not ready until about 2030.

An artist's impression of the exterior of the new Hunter Street station in the Sydney CBD, NSW. Picture: Supplied

CBRE regional director Kelwyn Teo, who advised on elements of Walker Corp’s Parramatta Square project, said even longstanding CBD firms would see opportunity in the west.

“Any kind of national or international firms, they need to be represented there because that’s where the next growth phase is going to be in western Sydney,” he said. “It’s quite practical to assume that firms would want to get representation there and use the area as a key anchor to meet the needs of the area.”

Mr Teo said large companies that needed more space would be able to take advantage of newer and connected facilities.

“Parramatta is touted to be the next CBD to take a lot of pressure out of the Sydney CBD. It will provide for big health hubs and other businesses and industries that can be supported for quality office space,” he said.

Business Western Sydney executive director David Borger agreed.

“This is a chance to totally transform the public domain at this busy intersection of Parramatta. It will be Parramatta’s answer to Central Station with the heavy rail, metro, light rail and buses in one central area, with the ferry just a short stroll away,” he said.

Mr Borger said it was crucial the existing stores were taken care of during the construction phase.

“Our biggest challenge during this renewal process will be the hole in the ground that will be present for up to a decade posing a disruption to local commerce,” he said.

“We need to make sure the commercial office development is delivered prior to the metro opening.”