Merc Capital adds to Carlingford's apartment popularity
Carlingford's apartment credentials continue to gather momentum, as evidenced by the latest offering from property developer Merc Capital.
City of Parramatta has just fielded a fresh development application on behalf of Merc Capital, with Marchese Partners leading the design effort for the expected Shirley Street project. Set across 8-10 Shirley Street, the mid-rise apartment block is the latest in the area for Merc Capital which has been active in Carlingford for many years.
Efforts to amalgamate various Carlingford sites by the developer began in earnest during the mid 2000s, with the latest development application another step in the bid to bring greater density to the suburb.
For its part, Merc Capital is hoping to realise 49 apartments across 11 levels of living, heavily weighted toward two bedrooms dwellings with only 5 single and 5 triple bedroom options included. The aggregated site amounts to 1,881 square metres which creates an allowable floor space ratio of 1.8:1, although the proposal seeks a 2.3:1 outcome.
8-10 Shirley Street is serviced by 2 underground levels containing 55 car parking spaces.
Holding a development cost of $25 million, Merc Capital's latest development is a continuation of their penchant for developing across Sydney's northwest suburbs. In addition to Carlingford, Merc Capital has been active in apartment projects across Baulkham Hills, Kellyville, Killara and Castle Hill in the past.
Located directly north of Telopea which is itself inline for major urban renewal, Carlingford's apartment market has been subject to strong growth in recent years. 2016 census figures showed the suburb's population was approaching 25,000, with one in three having Chinese ancestry.
In addition to locally based developers such as Merc Capital, Carlingford has also drawn the attention of Chinese-backed developers. Recently Yifang Australia amended development plans in order to create 118 new apartments on the adjacent block to Shirley Street whilst other developers such as JQZ have been active in Carlingford.
Currently, we're tracking 15 separate apartment projects across Carlingford, equating to 856 potential new dwellings in the suburb's development pipeline.