Property developer and investor GPT Group has received development consent from the City of Parramatta Council to construct a 26,000m2, $230m office tower at 32 Smith Street Parramatta in west Sydney, Australia.
Designed by architecture firm Fender Katsalidis, 32 Smith Street will feature a ground level urban room event space and an elevated podium terrace that will offer panoramic views of the Parramatta river.
The council awarded Fender Katsalidis to design the office tower in August 2017.
GPT’s head of office and logistics Matthew Faddy said: “This project will create a major iconic landmark and add energy to the transformation of Parramatta into a world-class commercial and cultural centre.
“There has been a strong level of enquiry from blue-chip occupiers and we believe that today’s announcement will create even further momentum.”
The design includes wider footpaths, glass lift shafts and facades, which will improve the visual and pedestrian connection to the Parramatta river and surrounding streets.
A car park will be located on Levels 3 to 5, maximising the ground level activation of the building.
The project will be located close to the Parramatta Transport Interchange and planned $1.2bn Riverbank cultural precinct, which will accommodate the new Museum of Applied Arts and Science.
Fender Katsalidis principal Mark Curzon said: “This is a fantastic moment. Having won the design competition and obtaining development approval, 32 Smith Street now becomes a reality.
“It represents an important change in the commercial market, realising Parramatta’s aspirations to be a true alternative to the Sydney CBD.”
Discussions are being held with prospective pre-commitment tenants through leasing agents JLL.
According to Faddy, infrastructure investment and population growth in Western Sydney and improved amenity in the local area fuelled the demand for office space in Parramatta.
Faddy said: “All of these factors will reinforce the Parramatta CBD as the geographic heart of commercial activity in Sydney and make it an even more compelling location for major corporate tenants.”
Construction on 32 Smith Street is planned to commence in 2018 with works due for completion in mid-2020.