Holdmark Property Group has partnered with Western Sydney University to transform a vacant commercial building in Parramatta into a purpose-built student accommodation facility, adding up to 600 beds to one of Australia's fastest-growing education precincts.

The $100-million turnkey project will repurpose the 14-storey building at 10 Valentine Avenue, adjacent to the Parramatta rail and bus interchange, providing students with accommodation within walking distance of the university's Parramatta CBD campuses, major transport links, shopping, employment opportunities, and the city's expanding commercial and cultural centre.

Rather than replacing the existing structure, the development will adapt and refurbish the late-1980s office building, giving new purpose to approximately 16,000sqm of commercial space that has remained vacant since NSW Government departments relocated to Parramatta Square.

Designed as a modern co-living community, the project will feature a range of shared amenities aimed at supporting student wellbeing, life and academic success, including dedicated study and breakout spaces, communal kitchens, gym and yoga facilities, music rooms, rooftop recreation areas and social spaces.

“This partnership will transform a vacant commercial building into a vibrant student community in one of the best-connected locations in Western Sydney,” says Holdmark Chief Operating Officer Kevin Nassif.

“Students will be able to step outside their accommodation and access Parramatta Station, the University’s CBD campuses and everything Parramatta city has to offer.

“Rather than demolishing an older building and starting again, we are giving an existing asset a new purpose through a major refurbishment that will deliver high-quality accommodation, outstanding student amenities and renewed activity in this important part of the Parramatta CBD.”

Holdmark acquired the broader 2-10 Valentine Avenue site from Australian Unity in 2024.

According to Western Sydney University Chief Operating Officer Bill Parasiris, the partnership will provide students with high-quality accommodation in the heart of Parramatta.

“This development will deliver modern, purpose-built accommodation within walking distance of our Parramatta CBD campus, public transport, and the many employment, cultural and lifestyle opportunities Parramatta has to offer. Importantly, it will increase the supply of dedicated student accommodation in Parramatta, helping meet growing student demand while reducing pressure on the broader housing market.”

“By increasing the supply of quality, affordable student accommodation close to campus, we are supporting student success, wellbeing, retention and a more connected university experience. The adaptive reuse of an existing commercial building also demonstrates how existing city assets can be repurposed to deliver much-needed student infrastructure in a more sustainable way,” Parasiris adds.

The partnership builds on significant investment flowing into Parramatta, including Sydney Metro West, the Powerhouse Parramatta Museum, Parramatta Square and the university's expanding CBD presence.

The student accommodation project also complements Holdmark's broader development pipeline in the city, which includes commercial, residential, hospitality and mixed-use projects.

Construction and refurbishment works are scheduled to begin shortly, with the first students expected to move into the development in Q4 2027.

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