$700M DEVELOPMENT FOR WESTERN SYDNEY
Payce, the Australian owned property company, with developer Deicorp, will join forces to deliver a key retail and residential site on the multi-billion-dollar western Sydney project.
The agreement on the latest $700-million development follows the New South Wales Government’s decision to rezone the land from general industrial to a mix of residential, open space, educational, retail and commercial uses.
Known as Melrose Central, it will form the main service, entertainment and shopping area for the entire 55ha Melrose Park precinct, about 7km east of Parramatta.
The development will include:
- 500 apartments
- 30,000 sqm of retail space
- A 4,000 sqm private hospital
- A medical centre
- Childcare facilities
It will also have its own station on stage two of the Parramatta Light Rail link. The next step for the partnership is further planning approval from Parramatta City Council.
The project will see the creation of around 1500 permanent jobs in retail and commercial services.
Preliminary site works have already begun with major construction work starting later this year.