It's booming I tells ya, and it's all good news not for the profiteer/developers, but for our Stadium... somehow... ?
https://www.realestate.com.au/news/...tes-on-parramattas-eat-street-for-around-50m/
Developer snaps up two prime sites on Parramatta’s “Eat Street” for around $50m
A Sydney-based property developer has snapped up two large development sites on Parramatta’s “Eat Street” for around $50 million.
Coronation Property have purchased 263 and 295 Church St, the latter being the iconic Crown Hotel, in the mammoth deal.
While Coronation Property will retain the management of the Crown Hotel, the 1082 sqm site is tipped to be turned into a luxurious complex, with Gateway approval in place for a development featuring 45 residential levels and 1,100 sqm of retail and basement parking.
On top of this, Coronation Property will look at restoring the three-level heritage building at 263 Church St, with ground floor retail and an office space on the higher levels.
Coronation Property’s managing director Joe Nahas said that the recent purchase demonstrated the commitment the company has to providing an integrated lifestyle offering for the community.
“We will bring our brand of lifestyle-enhancing amenity to this new site on Church Street,” he said.
The site on 295 Church St was purchased from Iris Capital and is near Coronation Property’s other development 8 Phillip Street.
Anthony Khoury of Khoury and Partners sealed the deal on the sale of 295 Church St and said the site had attracted plenty of interest since hitting the market late last year.
“It is a strategic site on Church Street with the buyers knowing the area well and planning to further develop,” he said.
The complex will likely consist of around 157 units, he added.
More details about 295 Church St will be revealed in the coming months ahead of its expected release to the market in 2018.
