Fresh plans have been lodged with the NSW Government to build a 42-storey tower above Westfield Parramatta.
Co-owners Scentre and Singapore’s GIC had initially received approval in 2014 to build a 25-storey office building covering 35,000sqm of commercial space. However, the partners now intend to raise the tower up to 42 levels offering larger floor plates of 3025sqm, and covering a total area of 112,000sqm.
The revised plans aim to address the demand in the Parramatta commercial real estate market for larger floor plates. This will allow prospective tenants to locate within the Parramatta CBD without worrying about changing space requirements. With a vacancy rate of 3.2 percent, Parramatta is one of the most sought-after real estate markets in Australia.
The proposed Westfield Parramatta office tower is being designed by Woods Bagot, and has been planned as an A-grade building with a five-star Green Star rating.
The approved 2014 plan will be modified to move the building between Church and Marsden streets, to avoid demolition of the existing five-storey retail structure. The main office lobby and entrance will open into Argyle Street while an open-air two-storey terrace has been proposed on the roof of the retail podium to accommodate cafés and retail outlets.
The proposed Westfield Parramatta tower joins a series of new office projects in Parramatta including Walker Corporation’s 55-storey 8 Parramatta Square, expected to be the largest office tower in Australia at 120,000sqm.