Parramatta RSL to sell car park site

Parramatta RSL to sell car park site
Parramatta RSL to sell car park site

Castle Hill RSL Group, owner of the Parramatta RSL Club, is selling a car park site in Parramatta CBD’s commercial precinct. 

The 1874 sqm 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 54 m tall, subject to council approval, and to reach over 11,200 sqm with the potential for this to increase through Design Excellence. 

CBRE’s Frank Oliveri, Peter Vines and Victor Sheu have been appointed to market the site at 7 Macquarie Street.  

“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 Sheuconcluded.

The Expressions of Interest campaign closes May 8 2019.

The site has been on market since March in 2017, over two years.

Tags: 
Parramatta Car Park

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