Castle Hill RSL car park on market as Parramatta boom gathers pace

“In recent years, it has been difficult for investors and developers to secure B4-zoned sites in Parramatta CBD due to the lack of quality stock, let alone the opportunity to secure a site overlooking the vast greenery Parramatta Park on a delayed settlement,” Mr Sheu said.

Mr Sheu said the site would suit a range of permitted uses, with consent ranging from residential and commercial to community, educational, hotel or motel accommodation, and seniors’ living.

Ray White head of research Vanessa Rader said Parramatta CBD was in favour due to its relative affordability compared with Sydney, and that quality construction and CBD infrastructure improvements had attracted new occupiers and investors.

“Despite many large completions, withdrawals have aided in keeping occupancy levels tight, with vacancies continuing at record lows, most recently achieving 3 per cent,” Ms Rader said.


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