On track for completion in March 2018, the new Parramatta office development set to be home to 1,800 New South Wales Department of Education employees has topped out.
Adding to the already $6 billion-plus of new building projects in Parramatta, 105 Phillip Street’s fit-for-purpose design will provide its occupants with 25,000 square metres of A-grade office space.
In May, two Charter Hall Group funds acquired 105 Phillip Street in a $229 million deal.
[Related reading: Construction Starts On 105 Phillip Street; Charter Hall Group Acquires $229 Million Slice Of Parramatta CBD]Parramatta is estimated to grow to a total workforce of nearly 200,000 by 2021 -- a $30 billion economy. Major towers in the area being developed by Dexus, Charter Hall Group and Lang Walker.
Dexus has six projects with a combined project cost of $295 million, including 105 Phillip Street.
Dexus chief investment officer, Ross Du Vernet said, “The topping out is a significant milestone in the development of 105 Phillip Street. This development strongly supports Parramatta’s growth as a place to invest and to do business, while delivering a world-class, fit-for-purpose office space for our customer, the New South Wales Department of Education.
“105 Phillip Street is a great example of how the New South Wales State Government is working with the private sector to deliver great places in cities where people want to work, live and play.”
The development is within close proximity to transport links and incorporates extensive end of trip facilities to complement the workspace.
The building is the first of its kind in Parramatta to achieve a 6-star Green Star Design rating, exceeding its initial 5-star target.
As part of the project, the urban landscape will be enhanced, replacing the plaza with a landscaped through site link between Phillip and George streets creating a connection with the streetscape.
The building is on track for completion in March 2018.