Infrastructure and property group John Holland has won the $170 million NSW government tender to develop a new commercial precinct on Waterloo Road, Macquarie Park.
The company's winning tender marks the fifth development project for the China Communications Construction Company-owned group as it makes its way into property development.
The strategic 3.2ha development site can accommodate up to 117,000 sq m of commercial office space over five stages.
The initial stage will be anchored by a 25,000 sq m pre-commitment by Property NSW to be delivered in 2019.
[Related reading: From Precinct To City; Inside The Opportunities And Challenges For An Evolving Macquarie Park]John Holland CEO Joe Barr, said the $1 billion-plus development continues John Holland’s shift in focus from being a market leading engineering and construction contractor to a fully integrated infrastructure and property company.
“We are already involved in significant joint venture developments in Brisbane and Adelaide and focused on a number of opportunities across the country,” Barr said.
“This is a strategic site located in the heart of Sydney’s second biggest commercial district and adjacent to the soon to be upgraded Macquarie Park Sydney Metro station. We look forward to working with Property NSW and the City of Ryde to unlock the site’s full potential, enhance its transport connections and create a precinct for everyone that works, visits and lives in Macquarie Park.”
Executive General Manager, Tom Roche, said the development would bring significant benefits to the local community.
“This development will deliver a boost to the local economy, create over 4,000 jobs during the development phase and ultimately house over 2,500 office workers, cementing Macquarie Park as a key employment centre within Sydney. John Holland is proud to be once again be collaborating with the NSW Government to deliver this innovative project.”
Development is scheduled to commence in late 2017.