Dexus Secure Approval for Parramatta Office Tower

The proposal for 140 George Street, which was made by Dexus property group in 2017, has been well received and approved by the council. It is expected that the development will offer A-grade offices across 45,800 square meters, with a view overlooking the Parramatta River and back to Sydney’s CBD.

“This development will deliver a world-class office building and strongly supports Parramatta’s growth as a place to invest and to do business,” Dexus Chief Investment Officer Ross Du Vernet said.

Designed by Bates Smart, the tower will incorporate large, open, contiguous floor plates that maximise fit-out flexibility, and feature high-quality services and exercise facilities such as a gymnasium, swimming pool, and naturally-lit open spaces and courtyards.

No tenants have been announced for the tower as of yet, although more businesses are becoming aware of the opportunity that lies within Sydney’s fastest growing city.

“Parramatta continues to attract quality tenants who are enticed by the city’s dynamic workforce, interconnected transport options and vibrant lifestyle offerings.”

The Bates Smart design focuses on large, open floor plates and high amenity for occupants (Image: Supplied)

Sydney’s west was identified as a key part of the region’s development in the 2016 Plan by the Greater Sydney Commission, which focused heavily on the growth of a central city centred around Parramatta. Dexus, an ASX-listed market leader with an office portfolio occupancy of 96.8 per cent, last year sold a nearby Phillip Street office tower to Charter Hall that is expected to be the headquarters for the NSW government's Department of Education. Many other major property groups - including Charter Hall, Lang Walker's Walker Corporation and GPT – have likewise pushed ahead with major development in the city.

For more information on the plans for 140 George Street, to enquire about tenant opportunities or to register your interest visit, please contact us.

Cover Image: Supplied