A landmark riverfront site with Gateway Approval located opposite the new Powerhouse Museum in the Cultural heart of Parramatta CBD
This prominent corner position is strategically positioned on the fringe of Parramatta CBD only 250m from ‘Eat Street’ and Prince Alfred Square. The site has received Gateway approval with capacity for 115+ luxury apartments many with oversized balconies and terraces overlooking the river and CBD, positioned above vibrant street and river facing hospitality/retail spaces. Existing building includes 16 recently renovated two-bedroom apartments and 5 commercial suites, above one level of basement parking.
This strategic position is located directly opposite the recently announced $1billion Powerhouse Museum (due to open in 2023), the proposed 10,000 person cultural ‘River Square’ and ‘City River Plan’ upgrades, the proposed 500m ‘Civic Link’ pedestrian thoroughfare to Parramatta Square which will emerge directly opposite, and is only 250m from Parramatta Light Rail (Stage 1) and 500m from UWS Parramatta City Campus and International College.
This under-developed riverfront site also presents an opportunity to amalgamate with the neighbouring property to achieve 3800sqm with an 80m river frontage in the heart of Sydney’s bustling ‘Second CBD’.
* Gateway Approved 5.2:1 plus design excellence bonus of 15% (total 6:1 FSR)
* Gateway Approved height of 60m (17 storeys)
* Draft scheme demonstrating 115 luxury apartments with design excellence
* Flexible B4 zoning permits a variety of uses including luxury mixed use, commercial, hotel, student accommodation and Build-to-Rent
2 Sorrell St is being offered for sale via Expression of Interest.