Granville is emerging as one of Sydney’s hottest property markets, with a proposed 20-storey residential tower development set to meet strengthening demand for housing in the area.
CBRE has been exclusively appointed to sell 2-6 Cowper Street – the site of Granville’s newest residential project, The Niu Granville – on behalf of developer Develotek.
Located on a 3,496sqm site, The Niu Granville is a two staged residential development comprising 264 units – including a mix of one, two and three bedroom apartments.
The proposed 20 storey development, which benefits from a central position in the heart of North Granville, also includes four levels of secure basement parking and ground floor retail/commercial.
CBRE’s Alex Mirzaian, who has been appointed to steer the sale campaign in conjunction with Peter Vines, Victor Sheu and Frank Oliveri, said the property was positioned to capitalise on the ongoing revitalisation of Western Sydney.
“Granville and the wider Parramatta region are earmarked for major growth over the next two decades, with the NSW Government expecting to create 25,000 jobs and 25,000 new homes by 2036,” Mr Mirzaian said.
“The majority of North Granville is currently included as part of the study area for the Parramatta Road Urban Renewal Project, which will further ensure its position for strong growth and the success of both commercial and residential projects.”
Situated within close proximity to the new Parramatta Road development, and providing direct access to WestConnex via a proposed laneway, The Niu Granville will offer unrestricted views of both the Parramatta and Sydney CBDs.
Mr Oliveri said the new WestConnex motorway would help further fuel demand for housing in Western Sydney.
“With WestConnex well underway, the travel time between Sydney’s major employment hubs will be significantly reduced,” Mr Oliveri said.
“Being located at the eastern forefront of the Parramatta CBD, Granville is positioned to become the gateway of Western Sydney.”
The growth of Western Sydney’s education sector is also expected to strengthen demand for housing in the area, with more than 10,000 students enrolled into Western Sydney University’s new Parramatta Square campus.
“Set to officially open early next year, Parramatta Square campus will underpin demand for housing in the area – particularly apartment style accommodation that provides options for both individuals and families,” Mr Oliveri said.
The property is being offered for sale via Expression of Interest closing November 17 at 3.00pm.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
