Frasers, Winton Win Approval for $750m Macquarie Exchange


Frasers Property Industrial and Winten Property Group has been green-lit for what they describe as “Australia’s first community business district”, a new urban hub, the Macquarie Exchange.

Construction on the $750 million project, located 12 kilometres north-west of Sydney, is expected to kick off in the third quarter of this year.

The approval includes the conversion of a 15,620sq m site into 83,368sq m of gross lettable area across four buildings, ranging from nine to 17-storeys.

“The development is expected to provide a much-needed revitalisation of Macquarie Park,” Frasers Property Industrial’s Ian Barter said, adding that the new business district would “deliver a viable alternative to city locations.”

Related: Charter Hall Kick Starts Capital Raising, Buys Macquarie Park Office

▲ Macquarie Exchange
▲ Macquarie Exchange will be located at the entrance to Macquarie Park’s new Sydney Metro station.

The latest approval will rival nearby developments under way by Stockland.

In December, the group received planning approval for the first stage of its $500 million high-tech business park, located between 17 Khartoum Road and 33 Talavera Road in Macquarie Park.

Singapore-listed Frasers and Sydney based Winten launched the $750 million Macquarie Exchange project in April last year.

The joint venture partners acquired the 15,620sq m site in 2007 for $30 million and are progressing its development as a 50-50 joint venture.

The four buildings comprise of MQX 1, which will stand 17-storeys, and MQX 2, 3 and 4 will stand 9-storeys high.

The development is approved to comprise 74,093sq m of commercial net lettable area, 5,693sq m of retail including a proposed childcare centre and gym and a park with more than 2,200sq m of green space.

On completion, more than 7000 employees are expected to work in the Bates Smart-designed hub.

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