Residential developer Dyldam has added another site to its Parramatta portfolio after acquiring the 3306sq m Thomson Ford car dealership site at 87 Church Street and 6 Great Western Highway for about $70 million.
The site, which houses the main Parramatta Ford motor vehicle showroom and servicing facility, is next to the massive 14.3-hectare Auto Alley site Dyldam acquired from the Heartland Group for $150 million in September last year.
The City West Joint Regional Planning Panel has already approved a $600 million mixed-use housing project for the Auto Alley site.
Dyldam is said to have acquired the Thomson Ford site from owner and BRW rich lister Nick Politis through a deal done by one of the Dyldam family members, Laing+Simmons Granville principal Ray Fayad.
Mr Politis sold the site with an approved planning proposal from the NSW government, which will allow the site to yield a 55-storey residential tower to be called “Macarthur Square”.
A proposal in 2014 requested a 70-storey tower but this was knocked back by Parramatta City Council.
The project also includes more commercial space within its podium, resulting in 20 per cent of the building dedicated to non-residential use.
Bates Smart Architects has been engaged to design the project with 570 apartments.
There will be more than 200 one-bedroom and two-bedroom apartments; the rest studios and three-bedders.
The corner site will rival future tall towers in Sydney’s second CBD, including a recently approved 43-floor tower at Macquarie and Charles streets, Meriton’s 53-level Altitude apartments and the future tallest building for Parramatta, Walker Corporation’s 88-storey Aspire tower in Parramatta Square.
Dyldam declined to comment on the purchase.
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