Walker Corporation has moved a step closer to the rejuvenation of the $2 billion Parramatta Square precinct with the appointment of Mainland Civil to do the civil works.
The evolution of Parramatta will also see the construction of The Lennox, a new $400 million mixed-use development at 12 Phillip Street.
The 47-level project is being developed via a project delivery agreement in conjunction with City of Parramatta and PCC DevCo1, a company initially established by LIDIS Group, with development management by EQ Projects.
The launch of The Lennox signifies the next step in the rejuvenation and growth of Parramatta, with the project totalling 5500 square metres of retail space and 441 luxury residences.
The 6300 sq m metre riverfront site, at the junction of the historic Lennox Bridge and Church Street dining and shopping precinct, will also include a 120m boardwalk to improve connectivity and activate the riverfront.
A Parramatta Square, first stage of works unlocks the precinct and enables Walker to deliver the first two of four major buildings, which have been pre-committed to National Bank for 42,000 sq m and Property New South Wales for 63,000 sq m.
The first two buildings will be delivered in 2019 and 2020, as well as a public domain of 6000 sq m. The final two buildings will be delivered mid-2021.
Walker Corporation chairman Lang Walker said the start of the earthworks is a commitment to deliver on “our promise to council, our tenants and the Parramatta community”.
“The first stage of delivery has been driven by our tenants and the demand for industry-leading office space that caters to the needs of Parramatta’s future workforce and it’s growing population of young, highly educated individuals,” Mr Walker said.
Walker Corporation is also working closely with Sydney Transport for NSW to facilitate a state-of-the-art rail station connection, providing access for commuters from the station directly through the base of the towers into the public domain and 3000 sq m of retail space, and the north of the central business district of Parramatta.
Conceived by award-winning architects Johnson Pilton Walker (JPW), the first two buildings (3 and 4) have been designed with a focus on workforce health, well-being and productivity in order to raise efficiency and inspire creativity.
According to the head of residential at Savills , Ged Rockliff, new developments like The Lennox come at a time when property prices in Parramatta are outperforming the average growth seen across Sydney.
“Property values in Parramatta have experienced strong growth over the past decade, with apartment prices increasing by 118 per cent but it remains a more affordable option when compared to central Sydney,” Mr Rockliff said.
The Lennox team has collaborated with Marchese Partners on the interior architectural design and Lorena Gaxiola on the interiors