McDonald's moves into apartment development joint venture with Stockland
The biggest name in fast food, McDonald's, has moved into apartment development in western Sydney's Parramatta, teaming with developer Stockland.
The project is at its Parramatta restaurant site at 355-375 Church Street.
Some 350 apartments are proposed along with 1565 square metres of new retail space, a car park and the new restaurant.
The fast food group will retain ownership of the restaurant stratum lot, which is proposed to have two levels of seating, a PlayPlace, McCafe and a dual-lane drive thru.
McDonald's senior development director Josh Bannister noted this was the group's first mixed-use development.
They do not have any other plans at this stage, but the company has been looking at value-adding its property portfolio with residential components elsewhere in Sydney.
The proposed apartments will include one to three bedrooms, with views across the Parramatta Park, Parramatta River and towards the Blue Mountains.