Stockland bottoms out at $450M M_Park development

(Picture: J Bar)

Construction of the $450 million first stage of M_Park has ‘bottomed out’ at two of the building sites, in the Macquarie Park Innovation District (MPID), Sydney.

Works started during the COVID-19 lockdown in July 2021 and will provide 500 direct and 700 indirect jobs over the next three years.

Stockland’s CEO and Managing Director, Tarun Gupta, and Digital and Customer Service Minister Victor Dominello were on site to inspect the construction milestone.

“It’s exciting to see the progress made on our M_Park project, which will have an end value in excess of $2 billion with around 6,000 workers, and represents an unprecedented opportunity to support the NSW Government’s plan to drive investment in the Health, Education and Technology sectors and accommodate the future of Australia’s medical technology (med-tech) industry,” Gupta said.

“With completion expected by 2024, 60 per cent of our first stage is pre-committed with high quality tenants, including a purpose-built data centre for a multinational operator, a WiSE multidisciplinary medical and emergency centre, and the consolidated Australian headquarters for Johnson & Johnson.

“The scale of M_Park, spanning seven hectares when combined with the second stage, will attract diverse technology and life science businesses which can reap the benefits of co-location in a leading NSW innovation precinct.”

Read more at Inside Construction.