The completion of the $3.5 billion redevelopment of Parramatta’s Square marks a new era for Sydney’s second city as an emerging economic powerhouse.
first looked at Parramatta about a decade ago, he saw more than just a shrewd investment opportunity for his company, Walker Corporation.
The relentless pressure on Sydney is unlikely to ease in the near future, as Australia’s population experiences a post-COVID surge and businesses look overseas to fix the most acute skills shortage crisis in living memory. The project connects to Sydney’s existing commuter train network, while Sydney’s $3 billion Metro, $2.4 billion light rail and $3.2 billion WestConnex motorway all promise faster transport connections to almost everywhere.“I just knew with all the transport going in there, that had to eventually be a monty for us and for western Sydney,” Walker says, using racetrack slang for a horse certain to win.
“Parramatta is a city in a state of acceleration. We have truly come of age, attracting unprecedented population growth, talent and public and private investment. There’s nowhere else like it in Australia,” Davis says. Along with a two government anchor tenants – the departments of planning and environment, and communities and justice, which lease about 44,000-square-metres for 4200 staff – Parramatta Square has secured a clutch of high-profile businesses looking to strengthen their footholds in western Sydney.
Big four consulting firm Deloitte also made a sizeable commitment, leasing 3500 square metres, while KPMG announced a new “Greater Western Sydney HQ”, also across 3500 square metres of the development.
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