Castle Hill RSL Group, owner of Parramatta RSL Club, is divesting its car park site in Parramatta CBD’s commercial precinct.
The 1874sqm development site is zoned B4 Mixed-Use – the most flexible zoning available in Parramatta CBD.
Future developments have the capacity to yield circa 100 apartments up to 54m tall, subject to council approval, and to reach over 11,200sqm with the potential for this to increase through Design Excellence.
“In recent years, it has been difficult for investors and developers to secure B4 zoned sites in Parramatta CBD due to the lack of quality stock, let alone the opportunity to secure a site overlooking the vast greenery Parramatta Park on a delayed settlement,” Mr Sheu added.
Mr Sheu said the site would suit a range of permitted uses, with consent ranging from residential, commercial, community, educational, hotel or motel accommodation, seniors living and more.
“With a wide range of potential uses and scarcity of space in the burgeoning business district, the property is expected to attract an array of potential developers,” Mr Sheu said.
“As a geographical, commercial and cultural centre of Sydney with $26.58 billion in Gross Regional Product (GRP), Parramatta represents a compelling option for developers looking to access the rapidly expanding Western Sydney economy.”
The Expressions of Interest campaign closes May 8, 2019, at 3.00pm (AEST).
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