Starryland Australia’s $550 million Parramatta staged masterplan residential development, Promenade, has launched its final stage release this month.
Starryland Sales and Marketing Director James Swete said Promenade offers a prime resort-style living environment for purchasers located in a stunning riverfront location.
“The abundance of green open space in the development and its close proximity to the Parramatta CBD combine to make this a great lifestyle opportunity," he said.
"As this final building release is located closest to the Parramatta Riverfront and has stunning panoramic river, Parramatta CBD and district views we expect it to attract the same feverish excitement and strong demand as the previous stage releases."
Promenade is a short five minute walk to the new light rail station and 350 metres from the main UWS campus.
Strategically at Sydney’s geographical heart, Parramatta’s integrated rail, road, bus and ferry network offers fast and frequent links to local business, leisure and university precincts as well as Sydney’s CBD, airport and the greater Sydney area.
CBRE Managing Director David Milton says Promenade is the most popular residential project sold by CBRE in the Parramatta region with buyers attracted to the location, value and quality design, with each stage release so far proving successful and highly sought after.
“From an investment point of view, Western Sydney has a very strong demand and a higher rental return compared to other areas in the Sydney region," said Mr Milton.
"Parramatta is Sydney’s second CBD and is now undergoing a major revitalisation which will greatly improve transportation with thanks to the West Connex and light rail, more business will develop as a result with increasing market demand as the CBD is further improved."According to Mr Swete, Parramatta has been rated ‘Sydney’s most liveable city’ by the Urban Development Institute and is also Australia’s fastest growing city with Parramatta and its surrounding suburbs expected to accommodate 60-70% of Sydney’s growth over the next 25 years.
The final building released this September boasts riverfront living with unbeatable views. Externally, Promenade offers a strong architectural statement unlike any other in the area – with bronzed ‘lantern’ structures connecting to, and reflecting, the river landscape.
Construction has already commenced with completion expected in early 2018.