60 & 60a Great Western Highway, Parramatta_Property for Sale

60 & 60a Great Western Highway, Parramatta, NSW, 2150, AU

60 & 60a Great Western Highway, Parramatta

Asset Description

JLL and Optix Property as the exclusive selling agents, are pleased to present 60 and 60a Great Western Highway, Parramatta For Sale individually or in-one-line by way of Expressions of Interest.

This is a unique opportunity to purchase a controlling stake within a block of apartments and a vacant development site featuring an existing DA approval in the thriving Parramatta CBD. The assets are conveniently located next to an abundance of amenity including Westfield Parramatta, Parramatta Train Station, Parramatta Square, Western Sydney University and is only moments from the Parramatta Light Rail and imminent arrival of the Sydney Metro West rail.

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Attributes

Land area Gross

0.19 ha (1,910 m²)

Media

Investment Highlights

Property and planning particulars:

60 Great Western Highway, Parramatta

15 x 2 bedroom apartments (out of 19 apartments) representing a 75.25% unit entitlement
1,025sqm* site area
5.09:1 base FSR
Potential base GFA of 5,217 sqm*
Base FSR plus 15% design excellence bonus of 5.85:1* could yield a potential GFA of 5,996 sqm*
Ability to exercise a compulsory Strata Buyout Process to secure 100% unit entitlements

60a Great Western Highway, Parramatta

885sqm* site area
Vacant level lot
5:1 base FSR
Potential base GFA of 4,425sqm*
Base FSR plus 15% design excellence bonus 5.75:1* could yield a potential GFA of 5,089 sqm* (STCA)
DA approved for a 9-storey, 104 room hotel
The site has since been reasoned and could be re-lodged to increase the room numbers to 169 hotel rooms, as a residential apartment block or commercial mixed use

Total amalgamated site

1,910sqm* site area
8:1 base FSR
Max HOB 100m
Potential base GFA of 15,280sqm* (STCA)
Incentivised FSR plus 15% design excellence bonus of 9.2:1 could yield a potential GFA of 17,742 sqm* (STCA)
Potential to capture vast view corridors out to Parramatta CBD and out to Sydney CBD

* Approximate

60 & 60a Great Western Highway is For Sale individually or in-one-line by Expression of Interest closing 4pm (AEST) Thursday 8th June 2023. 

All enquiries, information requests, DA documents, inspection arrangements and lodgement of offers are to be directed to the exclusive selling agents.