UrbanGrowth NSW has reportedly selected the four groups to submit final offers for the redevelopment of Wentworth Point on the Parramatta River.
The NSW Government launched an Expressions of Interest (EOI) campaign in August last year to confirm market interest in two waterfront residential sites on the Wentworth Point peninsula, within Sydney Harbour.
The two sites, totalling 12.04 hectares, have capacity for approximately 2500 apartments, a waterfront promenade, shops, and a multi-purpose community facility.
The Australian Financial Review has reported that four groups - Payce, Billbergia, Greenland and Macrolink - have been invited to submit their final tenders. The winner is expected to be announced in the middle of this year.
They Wentworth Point sites form part of the 17 hectare development to be known as The Peninsula, which adjoins Sydney Olympic Parklands, on the western shore of Homebush Bay and the southern side of the Parramatta River. The recently upgraded Sydney Olympic Park Ferry Wharf is located at the centre of the two sites.
Due to its key location, the Department of Planning and Environment identified the site as a ‘Priority Precinct’ which aims to deliver new housing in areas with easy access to public transport, shops, services and jobs. The site was rezoned in July 2014.
“The Peninsula represents a rare opportunity to acquire two north facing waterfront sites of significant scale in an established and well-regarded location within Sydney Harbour,” said UrbanGrowth NSW Head of Wholesale Projects, Peter Anderson.
“When completed, The Peninsula will deliver much needed new apartments, extensive open space including a 3.9 hectare Peninsula Park and a new landscaped foreshore that will provide pedestrian and cycle paths linking to Sydney Olympic Park and its parklands.”
Other key features in the precinct will include a new school, and promenade that will include a new maritime plaza overlooking possible maritime facilities including a marina, dry boat stack storage and launching facility, and over-water rowing club.
UrbanGrowth NSW managed the EOI on behalf of Roads and Maritime Services, which owns the land.