Residential property developer Stockland has teamed up with an unlikely development partner in fast-food giant McDonalds to deliver a new urban apartment project in Parramatta.
Stockland has submitted a proposal to build 350 apartments on the corner of Church Street and Victoria Road in Parramatta.
McDonald’s will maintain a retail outlet within the more than 1500sq m of retail and services space at the development. The revamped McDonald’s restaurant will include two levels of seating, a playground, McCafe and a dual-lane drive-through with a dedicated car park.
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“We’re pleased to have the opportunity to partner with McDonald’s Australia and collaboratively design a vision for their new restaurant,” Stockland managing director Mark Steinert said.
“The greater Parramatta area is one of the most exciting precincts in Sydney and is set to become home to an additional 41,000 people over the next five years.”
''This partnership presents an opportunity to progress our apartments strategy in a connected, walkable urban area with nationally significant infrastructure investment and development currently underway, and schools, university and a hospital nearby,'' Steinert said.
The agreement between the two is subject to satisfactory rezoning and presales.
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Located at the existing McDonald’s Parramatta site on the corner of Church Street and Victoria Road, the site is positioned at the northern gateway to the Parramatta CBD, opposite a future Parramatta light rail stop.
The site is located 300 metres from Parramatta’s food and arts district and the new Western Sydney Stadium, which is currently under construction.