With a raft of new infrastructure projects currently underway or in the planning, including the South West Rail Link and Western Sydney Airport, Liverpool continues to attract astute property investors looking to capitalise on the ever-rising popularity and growth of what is set to become the Greater West’s second largest city after Parramatta.
Already a prominent presence in western Sydney, where construction is well underway at The Paper Mill on Georges River, leading Sydney developer Coronation Property has built a name for itself as one of the Greater West’s strongest urban regeneration advocates, demonstrated by its transformation of Liverpool into the river city it always envisioned it could be.
To achieve this, Coronation Property is collaborating with high-profile industry leaders at the forefront of their industries, including Jamie Durie – who has amassed more than 33 international design awards – and world-renowned architect Domenic Alvaro of Woods Bagot.
The Paper Mill development, a mixed-use residential precinct incorporating heritage features is delivering on this vision, with some 1045 new apartments in a range of configurations taking shape along what was once the disused riverbank of the Georges River.
The Paper Mill’s last stage known as The Foundry, which was recently launched to the market, will boast more than 1200 square metres of rooftop gardens and communal areas by international, award-winning landscape designer and media personality, Jamie Durie. This area will also include a rooftop pool that overlooks the picturesque Georges River.
When completed, The Foundry will offer 198 apartments across 17 levels, and will be located on the southern corner of The Paper Mill precinct, where it will connect via landscaped walkways to the precincts’ other residential buildings.
Along with residential projects that are reshaping the city, there are also established professional industries and institutions in place at Liverpool that are poised to receive huge government investment, such as the $390m redevelopment of what is Sydney’s largest medical facility, Liverpool Hospital.
Coronation Property’s Sales Director Jason Soulos has seen the area slowly transform over the past few years since The Paper Mill project commenced construction and says that the magnitude of investment and subsequent growth potential for the area is second to none in Sydney’s west right now.
“In addition to the $1.8 billion South West Rail Link, there are also established train lines through the city including the Cumberland Line, Airport, Inner West and South Line and Bankstown line, taking commuters directly to Central Station from Liverpool,” Mr Soulos said.
“Some of the recent investment by way of infrastructure projects in the Liverpool area includes the $1.8 billion South West Rail Link in addition to the $390m redevelopment of Liverpool Hospital, with both these projects helping to redefine Liverpool and attract new residents.”
Mr Soulos says that some of the strongest drawcards for investing in Liverpool include its escalating population growth, current and future accessibility (including proximity to arterial roads and public transport) and its large rental population which extends to medical professionals at Liverpool Hospital.
“In addition, there are now two university campuses in Liverpool including Western Sydney University’s new Higher Education Centre in Liverpool’s CBD, as well as University of Wollongong, which now has a campus on Moore Street in Liverpool,” he added.
Population in Liverpool is set to skyrocket in coming years, with current ABS statistics showing the Great South West as growing by 2.3% each year, with one in every three new residents to New South Wales expected to call the south west home by 2036.
The economy in south west Sydney is also tipped to go from strength to strength, with the area already home to around 43,000 businesses contributing $22m to the national economy every year.
“We have received strong sales and enquiry for apartments within The Paper Mill, which promises a whole new lifestyle for residents by way of a completely revitalised riverbank precinct complete with retail and dining options,” Mr Soulos said.
The Paper Mill aligns with Liverpool City Council’s Georges River masterplan, which proposes a long-term vision for the urban renewal of the Georges River precinct into a true river city.
Situated just 700 m from Liverpool train station, The Paper Mill is also near the Moorebank Intermodal Freight Terminal, upon which construction has already commenced. The facility is expected to generate around 7000 jobs and $9 billion in economic benefits, as well as reduce greenhouse gas emissions by more than 40,000 tonnes a year while easing traffic pressures on Sydney’s road network.
Coronation Property Managing Director Joe Nahas said that Coronation’s investment in Sydney’s Greater West will continue until the Georges River waterfront revitalisation has reached its full potential and the Greater West’s rapidly growing population finally has the same access to high quality, well-designed masterplanned precincts as are available in Sydney’s inner suburbs.
