PARRAMATTA INVESTING IN WESTERN - AWS
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PARRAMATTA INVESTING IN WESTERN SYDNEY
Western Sydney Eastern Sydney
AREA AREA
8,841 sq km 1,620 sq km
POPULATION POPULATION
2.03 million 2.31 million
POPULATION – PROJECTED 2031 POPULATION – PROJECTED 2031
Welcome to Parramatta where we are As I have lived in Parramatta all my life,
FOREWORD building Australia’s Next Great City.
It’s an exciting time in Parramatta with
I am passionate about this great City
and relish the chance to play a key role
2.89 million 2.68 million
in furthering its enormous potential. GRP – 2012 GRP – 2012
great progress being made on projects
$ $
that will shape the future of our City.
This document aims to provide a
While Parramatta is modernising at
a great rate, we also have one the best
118.3 billion 174.5 billion
heritage precincts in Australia and GRP – PROJECTED 2031 GRP – PROJECTED 2031
glimpse of the raft of opportunities that
moving forward we hope to utilise $ $
exist in our City, which is at the heart
of the booming Western Sydney region.
our heritage items to boost tourism 165.4 billion 307.2 billion
to the region.
Parramatta is a vibrant, cosmopolitan Auburn Ashfield
We have partnerships with national
City that is well and truly on the move. Bankstown Botany Bay
sporting teams including the Western Blacktown Burwood
Our City, as well as being a commercial Sydney Wanderers, the Parramatta Blue Mountains Canada Bay
core with more than 16,000 businesses, Eels and the Western Sydney RAMS. Camden PARRAMATTA CBD Canterbury
also boasts major health, sport, Campbelltown Hornsby
There is significant opportunity Fairfield Hunters Hill
education, art and top-class restaurant
to revitalise the heart of our City, Hawkesbury Hurstville
precincts.
encouraging growth and development The Hills Shire SYDNEY CBD Kogarah
We have grand visions for our City and creating vibrant new public spaces Holroyd Ku-ring-gai
including expanding our transport Liverpool Lane Cove
for the community and greater Sydney Parramatta Leichhardt
connectivity with the Western Sydney to enjoy. Penrith Manly
Light Rail Network; transforming Wollondilly Marrickville
With significant population growth
the Southern Gateway to our City, Mosman
forecast for Parramatta, an expanding
Auto Alley, into a major commercial North Sydney
commercial and residential core, Pittwater
and residential area; activating the
existing and future transport facilities, Randwick
Parramatta River foreshore; fulfilling
education and medical precincts and Rockdale
our Parramatta Square urban renewal Ryde
a diverse and vibrant community –
project and making our City’s core Strathfield
Parramatta is the place to be.
a world-class CBD with a new Sutherland Shire
planning framework to help grow Sydney
our commercial capacity. Warringah
Waverley
There is ample opportunity for investors Willoughby
and developers to be a part of these Woollahra
visions and I encourage you to take a
look at what Parramatta has to offer.
Councillor Scott Lloyd
Lord Mayor of Parramatta
2 3
The future of
Sydney is west
All eyes are turning inland to Western Sydney, NSW’s fastest growing
region and the engine room of the state. Western Sydney is the fifth-
largest economy in Australia after Sydney, Melbourne, Perth and
Brisbane, with a gross regional product (GRP) of $118 billion in 2012.
It will account for 60% of Sydney’s and 25% of the nation’s population
growth in the next 25 years.
The nucleus of this flourishing region is The city has excellent transport accessibility
Parramatta – one of Greater Sydney’s fastest and an appealing quality of life, underpinned by
growing cities with 180,000 residents and 16,000 some of the state’s leading health facilities and
businesses producing more than $14 billion in educational institutions.
output. The central business district of Western Parramatta also offers organisations a wealth
Sydney, Parramatta is the largest civil and of opportunities to grow their business,
administrative centre outside of the Sydney CBD. recruit talented staff and invest in a region
Parramatta has the infrastructure, that will receive $2 billion in state government
the critical mass and more than funding to improve transport, roads and health
“No other region in
120,000 people to support a range infrastructure. If the proposed second airport at
Australia has greater of industries, from health to Badgery’s Creek proceeds, the development is
cultural diversity than manufacturing and professional expected to add $9 billion in economic output for
Western Sydney – and services such as law, finance and Western Sydney by 2050.
banking. Its workforce is younger
diversity is critical to and more qualified, productive
To be a part of the future of NSW and Australia,
go west.
innovation because and multilingual than Greater
people from different Sydney. Office space is more cost-
effective to rent and operate than
cultures bring different
comparable urban centres.
ideas and approaches
to the workplace.”
Peter Forrester
Managing Partner Regional Offices
National Executive, Deloitte
4
Western Sydney: Population
With tertiary qualifications %
Parramatta
Western Sydney
Greater Sydney
Population growth 2006—2011
Major regions of metropolitan
Sydney, 2006 to 2031
Parramatta
Western Sydney
Greater Sydney
massive population
Eastern Sydney
15%
Postgraduate Graduate dip. Bachelor Advanced
degree and certificate degree diploma
growth 6.0 1.1 14.1 7.2
10%
Western Sydney is one of Australia’s fastest growing urban populations 2.5 0.8 9.0 6.2 5%
– home to 2 million people, or 1 in 11 Australians. The region is a
cultural melting pot, with people from over half of the world’s nations
4.8 1.3 14.2 7.3 0%
Projected Estimated
Source: 2011 Population Census 2006 2036
living in the area and one-third of the population born overseas. Source: Australian Bureau of Statistics, 3218.0 Regional Population Growth, Australia;
NSW Department of Planning and Infrastructure, New South Wales in the future:
Preliminary Population Projections 2013
Western Sydney Parramatta Western Sydney Western Sydney Western Sydney
AREA AREA Residents by major age groups 2011 Country of birth (outside Australia) Common languages spoken
at home (non English)
8,841 sq km 61.4 sq km 19 and under
6.8% Arabic
POPULATION POPULATION 20 — 34
5.4% Chinese
4.8% Indo Aryan
35 — 49
2.03 million 178,549 50 — 64
65 and over
3.0%
United Kingdom
2.9%
India
2.9%
Vietnam
3.7%
2.4%
1.8%
Vietnamese
Southeast Asian
Italian
POPULATION – PROJECTED 2031 POPULATION – PROJECTED 2031
2.89 million 257,400
GRP – 2012 GRP – 2012 Source: Population by Age and Sex, Regions of Australia, 2012 2.5% 2.1% 2.0%
Cat No 3235.0 © Commonwealth of Australia 2013
$ $
118.3 billion 14.4 billion
China Philippines Lebanon
Source: 2011 Population Census
Southeast Asian includes: Filipino,
Indonesian, Tagalog and Other.
Tagalog is the most popular language.
Source: 2011 Population Census
Language Parramatta Population Parramatta
People who speak a language Western Sydney Born overseas (%) Western Sydney
other than English at home Greater Sydney Greater Sydney
NSW NSW
Australia Australia
50.2%
Overseas born Australian born Not stated
39.7%
44.9 48.6 6.5
32.5%
35.9 58.9 5.2
34.3 59.9 5.8
22.5%
18.2%
25.7 68.6 5.7
Source: 2011 Census of Population and Housing 24.6 69.8 5.6
Source: 2011 Population Census
6 7
Parramatta’s
growing population of
young, educated and
Parramatta: increasingly affluent
residents makes it a
the dream rich source of qualified,
multilingual employees,
as well as a buoyant
demographic market for health,
education, retail,
entertainment and other
Around 180,000 people – 10% of Western Sydney’s population – live in
consumer services.
Parramatta. By 2031, around 260,000 people will call Parramatta home.
The city’s population grew by 13.7% between 2007 and 2012.
Parramatta’s demographic profile has changed In particular, links to the world’s two major
over the past 10 years. The population is growth economies – India and China – are
younger, employed in white-collar professions growing. Overseas-born Indian residents make
and earns more money than people living in the up 8.1% of the population and overseas-born
area 10 years ago. Around 30% of Chinese residents make up 6.8%. These groups
residents have tertiary qualifications, represent opportunities for strengthening
This dream more than Greater Sydney at 27.7%. economic and cultural ties between Parramatta
demographic – 25- to This dream demographic – 25- to and the Asia-Pacific region.
34-year-old, tertiary- 34-year-old, tertiary-educated Parramatta’s growing population of young,
educated professionals professionals – is a standout indicator educated and increasingly affluent residents
of Western Sydney’s economic vitality. makes it a rich source of qualified, multilingual
– is a standout indicator
The city’s residents come from all employees, as well as a buoyant market for
of Western Sydney’s corners of the world and half of them health, education, retail, entertainment and
economic vitality. speak English and another language other consumer services.
at home.
Parramatta Parramatta Parramatta
Residents by major age groups 2011 Country of birth Common languages spoken
(outside Australia) at home (non English)
19 and under 11.5% Chinese
20—34 10.3% Arabic
35—49 9.0% Indian
2.7% Korean
50—64 8.1% 6.8% 3.8%
65 and over 1.9% Iranic
India China Lebanon
1.9% Southeast Asian
Source: Population by Age and Sex, Regions of Australia, 2012 2.2% 2.1% 1.6%
Cat No 3235.0 © Commonwealth of Australia 2013 South Korea United Kingdom Philippines
Southeast Asian includes: Filipino,
Indonesian, Tagalog and Other.
Tagalog is the most popular language.
1.6% Source: 2011 Population Census
New Zealand Source: 2011 Population Census
8
360º reach to
Greater Sydney:
accessing the
central CBD
With an increasing number of businesses relocating or opening an
office in Parramatta, a choice of reliable transport links is highly
important if these businesses are to attract and retain high-calibre
employees.
Parramatta’s strategic location makes it a major The city is also easily accessible by car using
travel hub for Western Sydney. The city plays the M4 motorway and connecting to Sydney’s
a key regional role, transporting thousands of motorway network. Parramatta’s central
people every day through its integrated network location means you can easily reach key
of rail, road, bus and ferry services. This makes commercial centres.
it easy for skilled professionals to commute Travel to and from Parramatta will only get
to and from the city, ensuring businesses can easier in the future.
choose from a deep pool of potential employees,
in turn helping them become more productive The $11.5 billion WestConnex project will provide
and creating more jobs. quicker, more reliable freight trips between
Western Sydney and the Port Botany/Sydney
Rail is a popular and convenient way Airport precinct; help distribute traffic across
to reach the city. Parramatta has
Parramatta is a major the wider road network, relieving congestion for
the fourth-busiest station on the local trips; provide better connections along the
travel hub for Western Sydney train network, with 30,000 M4 and M5 corridors to cater for the forecast
Sydney, transporting people arriving by train each working growth in employment and population along
thousands of people day. The Western, Cumberland these routes; and increase opportunities for
and Blue Mountains Lines service transport along and across Parramatta Road.
through its integrated Parramatta. These lines connect to
rail, road, bus and the major cities of Sydney, Penrith Parramatta has developed a Western Sydney
Light Rail network to manage transport flows
ferry network. and Liverpool.
into and around the city (see page 30). The
Parramatta is the heart of the network will support the economic and social
regional bus network, with connections to growth of the region and a future generation of
centres such as Bankstown, Macquarie Park Sydneysiders.
and Rouse Hill. The North West and South West
T-ways (Rapid Bus Transit) and extensive bus
priority lanes provide reliable travel journeys.
10
Labour catchment Labour catchment
within 40 minutes drive of Parramatta Station within 20 minutes walk of Parramatta Station
Windsor
Springwood Hornsby
Stadium
Castle Hill
Penrith
Blacktown Epping
Chatswood
Parramatta Ryde
North Sydney
Sydney Transport
Fairfield Interchange
Bankstown Canterbury Randwick
Liverpool
Rockdale
Sutherland
Campbelltown
Source: Remplan Source: Remplan
Population reach Source: Australian Bureau of
Statistics, Cat No 3218.0 Regional
Qualifications of population Source: Remplan
Parramatta CBD catchment Population Growth, Australia within 20 minutes walk of Parramatta Station
19.1% 22.4% Parramatta
Post-graduate degree
1,005,648 Graduate diploma/certificate
9.8% 2.1% Bachelor degree
10 km Advanced diploma/diploma
Certificate
2,974,492
Not stated
13.6%
20 km 33.0%
4,162,727
30 km
Population reach Source: Australian Bureau of
Qualifications of population Source: Remplan
Statistics, Cat No 3218.0 Regional
Sydney CBD catchment Population Growth, Australia within 20 minutes walk of Town Hall Station
14.5% Sydney
%
27.1% 2.5 Post-graduate degree
1,201,411 Graduate diploma/certificate
Bachelor degree
10 km Advanced diploma/diploma
Certificate
2,201,191 7.3%
36.1% Not stated
20 km 12.4%
3,823,177
30 km
12 13
One of Australia’s most
dynamic economies
The roll call of leading organisations with operations in Western
Sydney – Baxter Healthcare, BHP Billiton, Bluescope Steel, Coca Cola
Amatil, Commonwealth Bank, Deloitte, the NSW Police Force, Qantas,
ResMed, Sydney Water and Woolworths – is testimony to the area’s
status as one of Australia’s growing investment opportunities.
As the CBD of Western Sydney, Parramatta is Department of Defence and NSW Department of
Australia’s fifth-largest city in economic terms, Attorney General and Justice also have offices
with a gross regional product (GRP) of $14 billion here.
in 2011–12. In the period from 2010–2011 to The growing number of businesses in the city
2011–12, the city’s GRP grew 3.9%. means the Parramatta Local Government Area
As at June 2011, there were 16,360 registered is now the second-largest work destination
businesses in Parramatta. Since 2001, in Sydney, employing around 120,000 people.
Parramatta’s economy has been transformed Around 65% of the workforce are employed in
from one dominated by manufacturing ‘knowledge-worker’ or white collar jobs.
Around 30% of to one underpinned by service Parramatta’s employees are highly productive. In
industries such as finance, insurance, 2011–12, the city’s total industry productivity was
Australia’s top 500 health, professional, scientific and $65.79 per hour worked, an increase of 2.1% on
businesses have technical services. 2010–11 ($64.44), and higher than that of the
offices in Parramatta An increasing number of public and NSW average ($60.12).
private sector organisations are With Western Sydney’s population expected to
moving to the city as property in Sydney’s CBD increase by 42.4% from 2.03 million in 2012
becomes scarce and prohibitively expensive. to 2.89 million by 2031, an estimated 47,000
Around 30% of Australia’s top 500 businesses additional jobs are required to match this
have offices in Parramatta, including AON, Lend growth. Businesses will find it easy to recruit
Lease, QBE, Suncorp and Telstra. Government talented local staff with diverse skills.
agencies such as the Australian Taxation Office,
Western Sydney Western Sydney Western Sydney Western Sydney Parramatta Parramatta Parramatta Parramatta
Top six employment Employment forecast 2011—2036 Employment forecast for top GRP growth 2011—2031 Top six employment Employment forecast 2011—2036 Employment forecast for top GRP growth 2011—2031
industries in 2011 (‘000s of people employed) employing industries 2011—2031 (in AU$ billions) industries in 2011 (‘000s of people employed) employing industries 2011—2031 (in AU$ billions)
(‘000s of people employed) (‘000s of people employed)
1250 180 175 30 30
$165.3 B $30.2 B
6.7% 150 10.0%
14.9% 150 25
18.1%
$130.8 B $23.2 B
11.9% 1000 120 $118.3 B 150 20 20
100
9.7%
6.7% 90 15
5.6% $14 B
8.6% 750
14.2% 125 10
60 50 10
11.6% 6.8%
30 5
Manufacturing 500 Health/Social Care 100 0
2011 2036 2011 2031 2011 2021 2031 2011 2036 2011 2031 2011 2021 2031
Wholesale Trade Manufacturing
Source: NSW Bureau of Transport Statistics Source: Parramatta City Council Source: NSW Bureau of Transport Statistics Source: Parramatta City Council
Retail Trade Manufacturing Finance/Insurance Health/Social Care
- Lawrence Consulting - Lawrence Consulting
Education/Training Wholesale Trade Scientific/Technical Manufacturing
Health/Social Care Retail Trade Retail Trade Finance/Insurance
Public Admin/Safety Education/Training Public Admin/Safety Scientific/Technical
Source: 2011 Population Census
Health/Social Care Source: 2011 Population Census
Retail Trade
Public Admin/Safety Public Admin/Safety
Source: NSW Bureau of Transport Statistics Source: NSW Bureau of Transport Statistics
14 15
The Eclipse Tower, home
to Deloitte and QBE, recently
sold for $167.5 million.
A city primed
for development
Businesses looking to relocate or open an office in
Western Sydney should look no further than Parramatta.
Parramatta has the largest office market ‘Upper prime’ buildings and longer lease
Current in Western Sydney and the sixth largest in expiries are attracting significant additional
CBD market: Australia. It comprises over 700,000 square premiums around the 7%—7.3% mark. This
700,000 sqm metres of commercial space, 30% of which is is driving buyer demand from both local
— A-grade and almost 100% tenanted. institutions and off-shore groups.
Required over With a current A-grade vacancy of just 2.4%, The city is required to generate and house an
the next 25 years: falling vacancies in secondary stock, and overall additional 47,000 new jobs by 2036 to keep pace
20 new skyscrapers occupancy levels having increased by 0.8% in the with forecast population growth and demand for
— six months to July 2013 (contrary to the decline city-based employment. This will mean office
Upper prime in tenant demand nationally), Parramatta is the capacity will need to double within 25 years.
market yields: best performing commercial leasing market in There is already growing demand for new,
7.0%—7.3% Australia. large, premium-grade buildings with 4.5-star The Sydney Water head
Rental growth has averaged 5.3% since the NABERS ratings, particularly from Parramatta’s office building recently
sold for $166 million.
beginning of 2012, and property sales are government sector.
returning prime core market yields based on There are significant opportunities in Parramatta
a five-year weighted average lease expiry of for investors looking for a low-risk environment
approximately 8—9.5. and solid returns.
A-grade office space Parramatta
Vacancy rate of Sydney Total office stock
property markets (‘000 sqm)
20%
600
15%
400
10%
200
5%
0% 0
2009 2013 2007 2012
Chatswood North Ryde Sydney CBD City West City East Mid City
St Leonards North Sydney Parramatta City North City South
Source: Property Council of Australia, Office Market Report July 2013 Source: Property Council of Australia, Office Market Report July 2013
16 17
Potential Future
Development
Aspire Auto Alley Precinct
Macquarie Carpark Parramatta Square 2 Commercial 420,000 sqm
189 Macquarie Street 500 – 700 apartments Mixed Use 2200 apartments
Mixed Use 425 apartments Residential
715 public carspaces
< Morton Street and Potential Future
River Road West Development
Executive apartments on the river 11 Hassall Street
Parramatta
Potential Future Mixed Use
Square 5 & 6
Development
Commercial 100,000 sqm Gateway South
142 Macquarie Street
111 George Street Parramatta Square 1 Office, retail and residential
Mixed Use
Residential 22,500 sqm 700 apartments
Commercial 27,000 sqm
Eclipse Parramatta Square 3
60 Station Street Commercial 22,000 sqm
Commercial 27,000 sqm Westfield
Commercial 30,000 sqm
Potential Future
Development
184 George Street
New Public V by Crown
Mixed Use Potential Future Domain 45 Macquarie Street
Development Residential 500 apartments
89 George Street
7 Charles Street
Commercial 13,000 sqm
Mixed Use
105 Phillip Street
Commercial 20,000 sqm
Meriton
330 Church Street
Potential Future
Development
Mixed Use 640 apartments
20 Macquarie Street
Potential Future Mixed Use
Development
Riverbank Precinct 61B George Street
Mixed Use 97,000 sqm Commercial
Potential Future 5 & 29 Hunter Street >
Development Mixed Use
220 – 222 Church Street
Mixed Use
Potential Future
Potential Future Development
Development 197 Church Street
328 Church Street Mixed Use
Public Events Mixed Use
Square
22A O’Connell Street
Riverside Tower Mixed Use 22,000 sqm
12 – 14 Phillip Street
Mixed Use 400 apartments
Lennox Bridge
Portals
Riverside Theatres
Masterplan
18 19“The Aspire Tower on INVESTMENT
Parramatta Square is a rare OPPORTUNITY
opportunity to invest in and
construct a viable and vital
piece of city-making.”
Andrew Cortese
Grimshaw Partner
Parramatta
Square –
3 hectares
of prime
investment Benefits
The six stages of the redevelopment will
STAGE 4
5,000 sqm retail
STAGE 3
22,000 sqm
STAGE 1
24,500 sqm
opportunity see significant investment opportunities for and commercial office tower, office tower
building 7,000 sqm
developers and investors, benefiting Parramatta
public facilities
with a dynamic and vibrant 21st century civic
heart precinct.
Stage 1 will add 24,500 sqm of 5-Green Star
Concept office space. This will be followed by Stage 2, 3 1
Parramatta Square is a new, transformational a 90-storey tower with 700 apartments,
three-hectare precinct in the heart of the Town Hall
a 150-room hotel, ground level retail and a 360º
4
SM
Parramatta CBD. It will provide sustainable viewing platform from the heart of Sydney.
ITH
high-density urban living and commercial St Johns
Church
C hurr c h Street
Stre
e e t Ma
Mall
ll
Parramatta Square
Publi c Dom ain
Stage 3 will include another 22,000 sqm C a thedral
ST
space in the centre of Greater Sydney, which
will deliver the vision of Parramatta as a smart, 5-Green Star office tower and 7,000 sqm of
liveable, profitable and well-connected city. public facilities including civic administration,
community centre and library. Stage 4 offers
2 5 6 Sydney Wate r
another 5,000 sqm of retail and commercial DARCY ST
buildings. Stages 5 and 6 add another 140,000
sqm of office tower capacity.
STAGE 5 & 6
Estimated investment STAGE 2 140,000 sqm
90-storey commercial
Realisation of the full redevelopment is Aspire Tower office towers
currently estimated at A$1.6 billion.
20 21Macquarie Park Line
Proposed Western Sydney Light Rail Network
Castle Hill Line
INVESTMENT Future Lines
OPPORTUNITY Stop
Better connecting Projected employment and dwelling growth
the city and region Employment
forecast *
2011 — 123,400
Dwelling
forecast *
2011 — 32,723
2031 — 180,100 2031 — 48,366
The proposed Western Sydney Light Rail Network is a major 2061 — 301,760 2061 — 84,809
infrastructure project that will significantly transform the social * Based on 2011 Bureau of Transport Statistics. Unlocking Western Sydney’s
infrastructure, economic output and physical connectivity Potential with Light Rail, Part 2 Feasibility Report
of Western Sydney.
CASTLE HILL
TRADING ZONE
Proposed lines the efficiency of the metropolitan labour market CASTLE HILL
2011 0 9000 CA
The proposed first stage of the network and drive productivity gains for the whole of STL
E H
2031 0 12,500 I
comprises two lines: Parramatta to Castle Sydney. Patronage for both lines is estimated at
RD
LL
CASTLE HILL
2061 0 19,800
R
Hill, and Parramatta to Macquarie Park via 9,000 to 11,500 during the morning peak period.
N
D
D HWY
THE R
BE R L A N
M
U
Eastwood. Both routes link greater Parramatta 2011 540 7900
C
R
O
to the key precincts of the CBD, Westmead and Estimated investment
N 2031 1018 12,200
No
O L D
2061 2370 16,500
the University of Western Sydney at Rydalmere. A study undertaken by Parramatta City Council
rt
h
W
es
tR
a il MACQUARIE PARK
recommends the Macquarie Park line be Li
nk
CASTLE HILL
Benefits constructed first, followed by the Castle Hill CORRIDOR 2011 1029 14,000
BAULKHAM HILLS AY
W
The Light Rail Network will deliver greater line. The cost for both lines is estimated at OTOR
M2 M
2031 2520 19,500
BAULKHAM HILLS
connectivity for existing Western Sydney residents A$1.5 billion for 30 kilometres of new rail 2011 19,110 16,200 2061 7997 31,000
2031 26,491 19,400
as well as providing capacity to expand the network infrastructure, including a depot and 21 light rail
2061 40,762 22,240 2011 15 1300 MACQUARIE
CQ
in line with rapid population growth. It will improve vehicles to operate a service every 10 minutes. 2031 261 1800 EASTWOOD E P PI
N
PARK
Y G
R WA 2061 1652 2800 R
M 2 MOTO D
OL
R RD
2011 856 †
D
EPPING
E
WINSTON HILLS
W
2031 1432 †
IN
SO
D
ND
2061 2877 †
S
MARSFIELD
O
WI
R
R
D EASTWOOD
EA
ASSTWO
ST WOOD
OD
OD
HW Y
NORTHMEAD D
N
L A
B ER
M
ST
CU
WESTMEAD GE
JA M
ES
TELOPEA RUT
LED
ST
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ART
US
2011 268 12,800 P OINT RD ST
EW DENISTONE EAST
NG
E
SSI
R KI MACQUARIE PARK
D
2031 433 19,900 DE
D EN
DENISTONE
CORRIDOR
2061 833 36,400
PARRAMATTA 2011 9077 17,600
2031 12,209 20,400
2061 18,619 23,320
WES
TER WESTMEAD
N H
W Y RYDALMERE VI
CT
PARRAMATTA O
ST
RI
RYDALMERE
R YD
Y DALMERE
D ME A
RD
H
2011 297 3400 C
R
U
2011 1501 41,200 2031 649 4400 H
C
E Y RD
2031 3353 70,000 2061 1803 6300
2061 6640 143,400
INE
RHODES
RS
NL
JE
OW
SYDNEY OLYMPIC PARK
KST
GRANVILLE
BAN
22 23Diverse J AM
investment
ES R U S
E DR
Y North
HW
ND
opportunities LA
Parramatta
R
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Westmead
Stadium
Over the next 25 years, it is expected that the growing Sydney
population will need an additional 770,000 new homes close to jobs,
Rydalmere
transport and amenities. There will be a sharp growth in high-rise
residential towers, townhouses and higher density CBD living. Parramatta
It is anticipated that Western Sydney will require the creation of CBD
380,000 new jobs, with over a quarter located in Parramatta.
M
Camellia
4
W
Parramatta will offer significant development sick children. The investment needed to improve E
S
TE Auto Alley Rosehill
and investment opportunities that will be the public domain benefiting patients, workers, R
N
MW
characterised by striking modern architecture, visitors and residents, including road work, Y
attractive public spaces and innovative parklands, transport links and parking, is
developments in former industrial estates estimated at more than $68 million.
with spectacular views of the Parramatta
River. It will continue to develop as a busy,
culturally stimulating place with a broad range Rydalmere
of attractions, shops, community facilities and Rydalmere will house a high-tech business park
nationally recognised landmarks. developed in conjunction with the University
of Western Sydney. It is expected the precinct
will accommodate over 11,000 new knowledge
Westmead worker jobs, attract 2,500 tertiary professionals Rosehill Racecourse Parramatta CBD investment opportunities
Westmead contains the largest concentration of and be home to 30,000 students. The Australian Turf Club is currently undertaking There are opportunities to revamp the
health services in Australia: four major hospitals a $24 million redevelopment program for Parramatta River Entertainment precinct,
and three research institutes. It provides over its Rosehill Gardens racecourse to improve including redeveloping the Riverside Theatres
16,000 patient beds, employs 16,000 people Camellia infrastructure. A masterplan is being pursued, complex.
and treats over a million people each year. Camellia is a 40-hectare opportunity targeted including a new railway station interchange, Parramatta Stadium (Pirtek Stadium) also needs
Development plans underway include a new as an eco-industrial precinct specialising in the improved parking facilities and a 21st century transforming, with a master plan increasing
$135 million building to expand the Millennium sustainable building and energy fields. It will approach to club, retail and accommodation capacity to 31,000 seats, expanded corporate
Institute – a world-class research facility enable Parramatta to offer wider employment facilities. facilities and a 500-seat function space.
that will house more than 750 internationally opportunities at both the high and low ends
renowned scientists and researchers. of the skills spectrum and increase local
The Children’s Medical research Institute has job creation for residents with a wide range
commenced a staged $171 million, state-of-the- of experiences. Camellia will also be an
art environmentally sustainable redevelopment opportunity for green industry funding to support
to maximise its research potential to benefit start-ups.
24 25INVESTOR
CASE STUDY Deloitte: Thriving
in Parramatta
Western Sydney has transformed over the past eight years.
The population grew and its demographics changed. Property prices
started increasing. The NSW Government declared Western Sydney
a priority for development in its NSW 2021 strategic plan.
Several blue-chip In 2005, Deloitte’s “Our Western Sydney
“ Our Western Sydney organisations and
government agencies
Parramatta office
employed 65 people.
practice is the fastest-
growing of all our
practice is the either set up an office
in or relocated to the
That number has more
than quadrupled to
Australian offices,
having increased
fastest-growing of region. 280 people in 2013,
and Deloitte expects
revenue by 194%
between FY2006 and
As a business with
all our Australian a 30-year history
to grow to 500 people FY2013,” says Peter
by 2015. This includes Forrester, who was
offices, having in Western Sydney,
Deloitte was among
the Parramatta office the Managing Partner
and the Deloitte of Deloitte’s Western
increased revenue the first to notice
this transformation
Private office in the Sydney practice
by 194% between and realise the
opportunities it would
Norwest Business Park
in Baulkham Hills,
between 2005 and
2013 and is now the
FY2006 and FY2013.” bring. Today, it is
established in 2011 to
better service greater
Managing Partner,
Regional Offices. “Our
reaping the benefits
Peter Forrester, Managing Partner Western Sydney. The success reflects that of
of being the leading
Regional Offices National Executive firm has plans to Western Sydney, which
professional services
continue its expansion is bursting with new
firm in the fastest-
with more offices business, education,
growing region in NSW.
throughout the region. research, development
and lifestyle
opportunities.”
According to Forrester, University of Western Deloitte is deeply “Parramatta the attention of infrastructure, jobs and
Deloitte’s success is Sydney also provides involved in Western Partnership Forum international investors, a strong social fabric.
partly due to the fact it the firm with access to Sydney and and Western Sydney particularly from Asia.
“Deloitte has benefitted
draws approximately a pool of talent from Parramatta’s business First have a visionary The Significant Investor
significantly from
65% of its workforce which it can draw the community. The firm leadership team that is Visa – designed to
Western Sydney’s
from the culturally next generation of has been instrumental committed to creating attract overseas
growth – and this is just
diverse Western Sydney employees. in bringing state a viable future for the investment and provide
the beginning. The best
region. government ministers region,” says Forrester. a streamlined pathway
Deloitte offers work is yet to come.”
to the region, regularly to permanent residence
“Diversity is critical experience for students, He believes there are
engages with industry in Australia for business
to innovation because and its experts often many opportunities
groups and has people from around the
people from different give lectures or tutorials in Western Sydney,
provided experts to world – is expected to
cultures bring different at the university. the most significant of
speak at business generate more interest
ideas and approaches which is the proposed
“Our intellectual events. in the region.
to the workplace – and second airport at
property is our people,
no other region in NSW Forrester is a member Badgery’s Creek. If the “By 2031, close to
so we’re always on
has greater cultural of the Parramatta airport goes ahead, 3 million people are
the lookout for skilled
diversity than Western Partnership Forum, it would serve as the expected to live in
talent,” says Forrester.
Sydney,” says Forrester. and Deloitte sponsors catalyst for job creation, Western Sydney,
“The relationship with
“This is a distinct Western Sydney investment and up from 2 million
UWS means we can
competitive advantage.” First – two business economic growth that currently,” says
spot the students with
organisations the region needs. Forrester. “The region
Deloitte’s close potential early and offer
committed to advancing must match this
relationship with the them a place in our Western Sydney has
the region. population growth with
graduate program.” already attracted
26 27INVESTOR
CASE STUDIES Sydney Water: Fostering Lend Lease: Legal eagles
a collaborative work space Building connections with a focus
When Sydney Water Parramatta, so we felt station. In addition to Parramatta’s centrality, public
decided to relocate its comfortable doing the financial benefits – the
head office from the same.” utility avoided tens of transport links and array of amenities
Sydney CBD, the utility
Freeman says
millions of dollars in made it the location of choice for Lend Lease when
only had one place in refurbishment costs for
mind: Parramatta.
Parramatta’s excellent
its Sydney premises – it decided to open an office in Western Sydney.
“ Parramatta is the “Parramatta is the
transport links and wide
range of amenities –
the relocation resulted
Lend Lease has a “Parramatta is also on individual projects
geographical centre geographical centre of
our operations, which
including restaurants,
bars and shops – were
in “a great shift” in
Sydney Water’s culture.
number of projects in easy to reach via public with individual project
teams, they are very
the north-west, west transport or car for
of our operations… includes Sydney, the
Illawarra and the
major drawcards
and made it easier
“Sydney Water’s aim is
to increase efficiencies
and south-western our staff, and offers much enjoying working
areas of Greater Sydney, great restaurants, cafes, in a larger team
It made business Blue Mountains,” to ‘sell’ the move to so we can deliver better and there was a need diners and especially environment. This will
says Paul Freeman, staff members. The value to our customers,” be beneficial in staff
sense to be right in Sydney Water’s General utility spent 12 months says Freeman. “Our
to bring the residential
communities and
good coffee,” he adds.
Lend Lease was looking
retention and overall
the heart of Western Manager, Liveable City
Solutions.
preparing staff. It
ensured business-critical
open-plan Parramatta
office, with meeting and
retirement living project
teams that work on
for an open plan office
career development for
our employees.
with communal staff
Sydney, a region “It made business sense
to be right in the heart
IT and backup systems
were thoroughly tested
breakout spaces, lunch
spots and a rooptop
these projects together
in one location.
areas, that offered room “The benefits
to grow. of working in
that’s growing in of Western Sydney, a
prior to relocation. area, has allowed our
staff to form stronger
Parramatta was chosen
“Our ideal scenario
a collaborative
region that’s growing In 2009, around 1,400 environment will be
leaps and bounds.” in leaps and bounds. At staff members from
bonds so we can work
collaboratively towards
because of its prime
position. The city
was to have all staff on
the one floor, and we
significant. We can Coleman Greig is
the time, a number of the Sydney CBD and was seen as a central easily share experience located in George Street
Paul Freeman, General Manager this goal. The move are very lucky to have
government agencies regional offices moved location to Lend Lease’s and innovation across and is an integral part
Liveable City Solutions west has been good for achieved that. The
– such as NSW Police – to a modern office next residential communities teams, which will For Coleman Greig, of the city’s business
our business.” office’s modern fit-out
were decentralising to to Parramatta train and retirement living increase efficiencies there’s no better place community. In addition
also had huge effects on
developments spread and knowledge,” he to do business than to legal advice and
staff and contributed to
across the Greater adds. Western Sydney. The representation, the firm
their excitement about
Sydney region. Other The move to Parramatta 85-person law firm is provides workshops,
the move,” Basheer
projects in the Central reflects Lend Lease’s the largest commercial seminars, briefings and
says.
Coast, Hunter Valley commitment to the law firm outside of the forums for individuals
and Illawarra are easily Lend Lease staff moved Sydney CBD and was and local businesses,
region. The company
accessed through the to the Parramatta office recognised as the Best as well as fundraising
has operated in Western
major motorways near in September 2013. Law Firm in Australia and support services
Sydney for over 20
the city. “The reaction has been years and establishing (revenue less than $50 for charities in the
“Most of our people great; our staff are extra a regional office in million) in the 2013 region. Coleman Greig
have been based on motivated as a direct Parramatta supports BRW Client Choice also provides an annual
project sites, so they result of the relocation,” the city’s continued Awards. cadetship program for
were very happy to says Basheer. “After so growth. University of Western
Established in the early
be located in central many years working Sydney law students
1900s, today Coleman
Parramatta with and work experience
Greig stands out as
opportunities.
the wide variety of “ Most of our people have been an innovative and
amenities available progressive contributor “Our goal is to
to them,” says Simon
based on project sites, so they to the greater Western integrate our firm
Basheer, Lend Lease’s were very happy to be located Sydney community with the community
General Manager NSW in central Parramatta with and beyond. The firm in the broadest sense
& ACT, Communities. offers CBD-style legal and provide the best
“We are on Phillip the wide variety of amenities services and expertise, possible service to
Street so our staff also available to them.” the personal approach clients,” says Peter
make the most of the of a boutique firm, and Stewart, Managing
riverside parklands and Simon Basheer, General Manager, the spirit of community Principal, Coleman
walkways.” NSW & ACT, Communities awareness. Greig.
28 29University of Western Sydney:
A hub for Diverse learning experiences
innovation The University of
Western Sydney is truly
an institution of the
Parramatta is a city of smart, creative Renowned for its research and teaching region. Almost 75% of
thinkers and a hub for innovative study where excellence, UWS offers more than 100 programs its more than 40,000
extraordinary research and learning is taking to around 40,000 students (see case study on students come from
place. Businesses can source talented, qualified opposite page). Western Sydney, and
people from the rich array of educational and Parramatta also hosts the University of New its campuses reflect the
research institutions in the area. region’s multifaceted
England’s FutureCampus, the cornerstone
social, economic and
The city is where you’ll find the of the institution’s online teaching vision.
cultural make-up.
Westmead Medical Research Precinct, FutureCampus uses advanced technology to
By 2036, the Around 35% of these
NSW’s largest health district. provide a flexible, open learning environment, students are based at
Westmead Medical Internationally recognised as a centre ensuring students have anywhere, anytime the Parramatta campus,
Research Precinct is of excellence in medical research and access to the best of UNE’s and the world’s in the heart of the
expected to generate biotechnology, the precinct is home to teaching resources. Western Sydney region.
four major hospitals and three research
7,000 new jobs and institutes, treats 1 million patients
Some of the state’s leading schools can also
employ 21,000 people. a year and employs 16,000 health
be found in or near Parramatta, including The More than
King’s School, James Ruse Agricultural High
professionals and researchers. School, Tara Anglican School for Girls and
70% of the
The Westmead precinct is close to the University Westfield Sports High School. University’s
of Western Sydney, the leading tertiary research was
institution in the region.
ranked as In 2011, Professor a 2012 Deloitte Access
Roy Tasker received Economics report, the
world standard the Prime Minister’s University contributed
or better in the Australian University an estimated $845.3
Australia’s first 5G 2012 National Teacher of the million to the regional
Year award. This economy in 2010. In
wireless network Excellence achievement was the same year, UWS
in Research repeated in 2012, and its students also
In July 2013, Parramatta became Australia
when Professor James provided 8,805 full-time
Arvanitakis won the equivalent jobs.
the first city in Australia to assessment. same award.
UWS is also committed
benefit from the country’s first In addition, more than to excellence and
5G wireless network. “The diversity of our 70% of the University’s opportunity in all
student body is what research was ranked aspects of its work.
At speeds of up to 100 “As Parramatta makes UWS such an as world standard Its strategic planning
who have experienced scholarships worth
megabits per second, becomes a major enriching place at or better in the 2012 priorities are focused
some disadvantage in $350,000.
the free Wi-Fi network knowledge centre in which to study and National Excellence on providing an
their preparation for
is three times faster Sydney and society work,” says Rhonda in Research Australia outstanding student A majority of the
university studies, have
than the current 4G becomes increasingly Hawkins, Deputy Vice assessment. The experience, undertaking scholarships go to
access to educational
technology. mobile, it’s critical we Chancellor, Corporate institution received world-class research students who are the
opportunities of the
provide the city with Strategy and Services. $5.8 million from the in targeted areas of first in their families to
The service will allow highest quality.
the infrastructure that “Each one of our Australian Research excellence and ensuring attend university.
people to check their
workers, students, students has their own Council in 2013, ranking it is the university of In 2012, UWS awarded
emails and surf the net These students will
businesses and unique perspective, it 11th in Australia for choice for students in 585 scholarships
in the heart of the CBD, hopefully go on to
residents need to stay so it makes for a very these highly prestigious Western Sydney. worth $2.8 million.
along Church Street, improve outcomes for
connected,” stated dynamic learning grants. In addition, the UWS
from Riverside Theatre The University also future generations in
Councillor John environment.” Foundation provided
to Westfield and parts UWS is highly works hard to ensure the Western Sydney
Chedid, Lord Mayor 65 scholarships worth
of Macquarie Street. UWS is known for its committed to Western students in need in region.
of Parramatta. $250,000, and donors
teaching excellence. Sydney. According to the region, or those
funded another 61
30 31A place to
call home
For quality of life, it’s hard to beat Parramatta. The number
of people living in the city increased by 13.7% from 2007 to
2012, due in part to the cost of living, easy accessibility to
key services and dynamic, vibrant community.
A number of residential developments in recent Big on culture
years has delivered 5,000 new apartments, many With over 50% of residents born overseas,
of them in CBD locations or by the river. Parramatta’s multicultural community is reflected
The average price of a strata dwelling in the in the diversity of events on offer. The city’s
Parramatta CBD was $398,000 as at March calendar is packed with activities, from Australia
2013, compared to $491,000 for Greater Sydney. Day concerts and Lunar New Year festivities,
A two-bedroom unit in the centre of Parramatta to the Arab Film Festival and Parramasala,
costs $400 a week to rent (compared to $470 a celebration of South Asian culture.
for Greater Sydney). Parramatta offers a wide variety of sporting,
The area has some of NSW’s best health and cultural, leisure and entertainment options.
education facilities (see pages 20–21), ensuring The Parramatta River foreshore includes a
residents can access high-quality medical large park, cycleways, entertainment venues,
services and learning resources. cultural institutions, heritage sites and other
visitor attractions. One of Parramatta’s premier performing
acts facilities is the Riverside Theatres.
Located on the banks of the Parramatta River,
Riverside Theatres brings together three
venues under one roof. The theatres regularly
host local and international productions,
including Shakespeare, comedy, drama, ballet,
contemporary dance and musicals.
Another highly popular spot for people to gather
is the Western Sydney Parklands. Set in the
heart of Western Sydney, the 5,280-hectare site
stretches 27 kilometres from Blacktown in the
north to Leppington in the south. The Parklands
is much more than recreational space; it is
a critical area in Western Sydney in terms of
infrastructure, agriculture and water supply and
other essential community facilities. When fully
developed, it will be the largest urban parkland
system in Australia and one of the largest in the
world.
There are more than 300 restaurants, bars and
cafés – including Circa, the Sydney Morning
Herald’s Best Café for 2013 – creating exciting,
culturally diverse wining and dining experiences.
Sports lovers can head to Parramatta Stadium,
the home ground of the Parramatta Eels and
the Western Sydney Wanderers, or to Rosehill
Gardens, host of the Golden Slipper Carnival.
33A well-rounded The Wanderers: Westfield Award-winning
education Team spirit Parramatta café culture
Some of NSW’s leading schools The first ever game of football in Tucked away in a small alleyway is Circa Espresso,
voted Best Café at the 2013 Good Café Guide awards.
can be found in Western Sydney. NSW took place in 1880 in Parramatta Owners Aykut Sayan and Tony Sleiman are proud
between The King’s School and a club Western Sydneysiders making a name for themselves
Located in North Parramatta, The King’s School for their outstanding coffee and home-style food
is Australia’s oldest independent school and has a
called the Wanderers. made with quality ingredients.
strong academic reputation. Its teaching resources, If the line’s too long, hop across the railway tracks to
Fast forward more Western Sydney: proud, it’s easy for our fans
particularly in the area of boys’ education, boarding sister café Three Ropes Espresso, a hip hole-in-the-
than 100 years, it’s ambitious, aspirational, – who come from all
and the development of leadership skills, are used wall serving the takeaway crowd.
only fitting that inclusive, raw and real,” over Western Sydney
around the world. Crown Princes, leaders of political
Australia’s newest says Lyall Gorman, and wider – to attend
parties, authors, actors, leaders in law, medicine and
A-League football club Executive Chairman our games, and there’s
in a wide range of other professions have all been
– the Western Sydney of the Western Sydney plenty of restaurants,
educated at King’s.
Wanderers – has its Wanderers. “It is pubs and pre- and post-
In Carlingford, you’ll find James Ruse Agricultural home ground in the these core values entertainment options,”
High School. This selective, co-educational school centre of Western that drive everything says Gorman.
has an enviable record of achievement, consistently Sydney, right where it we do, whether on
“Western Sydney
obtaining outstanding results in public exams and all began. the domestic or
is the heartland of
in state, Australian and international competitions. international stage.”
The Wanderers’ heart football and the most
James Ruse has been the top-ranked school for HSC
results for six consecutive years since 2007.
and soul is truly in Parramatta’s remarkable region in Westfield Parramatta is one Total retail space:
Western Sydney. Its rectangular stadium Australia. Our future 137,214 sqm
There is no better place to educate children with
of Australia’s largest shopping
distinctive club logo is ideal for spectating here is one of endless —
sports talent than at Westfields Sports High School, features the region’s and provides access to possibilities.” centres with approximately 494 Annual customer
in Fairfield West. Australia’s first sports school
is known for its innovative and highly developed
mountains, valleys and a thriving lifestyle and stores. The centre has one of the visits: 28.3 million
winding river system, entertainment precinct, —
sports programs, as well as its rigorous academic and its players, coaches making it a natural largest trade area populations of
curriculum. The school’s past students include Annual retail sales:
Socceroo Harry Kewell, Australian cricket captain
and fans reflect the home ground for the
Western Sydney
approximately 676,000 residents, A$707 million
area’s rich multicultural Wanderers.
Michael Clarke, rugby league superstar Jarryd Hayne, population.
Wanderers’ star and benefits from the large office —
“The free shuttle bus mid-fielder – Shinji
Total retail spend-
former world discus champion Dani Samuels and
“The Wanderers from Parramatta Station Ono – known by his workforce in Parramatta.
Olympian cyclist Katherine Bates. team mates as tensai ing: A$7.5 billion
embody the values of to the stadium means (‘genius’).
34 35DESIGN ELKEMO.COM
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