Gateway site in Parramatta with potential for mixed use up for sale

A gateway landholding in Sydney's Parramatta, with potential for mixed-use residential development, is up for sale through an expressions of interest campaign closing June 7.

The site at 142 James Ruse Drive in Parramatta is being sold as a ‘Going Concern’, and has an area close to 10,000 square metres. 

Surrounded by land that is undergoing significant regeneration from light industrial to future residential and mixed-use development, 

Stuart Cox and Neil Cooke of Savills are marketing the property. 

Cox said as the property is next to the proposed light rail station planned for Parramatta, and that it has gateway prominence, he expected strong interest from buyers.

“As far as opportunities go, it doesn’t get better.  This offers buyers a complete blank canvas with significant rezoning potential (STCA),” said Cox.

Concept drawings have been proposed for the site, providing 493 apartments spread over four towers together with about 2,500 square metres of retail space.

The property currently comprises a light industrial strata complex, constructed in 2002, made up of 10 strata industrial units.

Situated on the southern side of the Parramatta River, the property is about 2 km from Parramatta CBD. 

Parramatta is undergoing a growth phase with more than $8 billion invested in building and construction projects.