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by Charter Hall Announcements

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At a formal ceremony today, Charter Hall Group (Charter Hall or the Group) and Western Sydney University (the University) officially marked the topping out of construction on One Parramatta Square (1PSQ), the $220.5 million commercial development in Sydney’s west.

1PSQ, owned by two of Charter Hall’s managed funds, is being developed by Charter Hall and constructed by John Holland. Upon completion the building will be the flagship Parramatta City Campus for Western Sydney University.

NSW Premier and Minister for Western Sydney, Mike Baird, Western Sydney University Vice- Chancellor, Professor Barney Glover, and Charter Hall’s Head of Office Development, Andrew Borger marked the occasion with a traditional tree planting on the rooftop.

 

Mr Baird said:   

 

"Parramatta is a city on the move and today we have reached a significant milestone on one of the region’s key developments. Parramatta is the geographic heart of Sydney and the new Western Sydney University campus will allow nearby residents to work and study closer to where they live".

 

“The investment in this project by Charter Hall, John Holland and Western Sydney University is providing hundreds of jobs during construction and it will continue to drive the local economy once it is completed,” Mr Baird said.

The construction progress is a milestone in the roll out of the broader $2 billion Parramatta Square urban renewal project, which will include two commercial towers, a 65-storey plus residential tower, a 150-room hotel and community facilities.

Charter Hall’s Head of Office Development, Andrew Borger said: “1PSQ will deliver to Sydney the education place for the future and Charter Hall is proud to partner with the University to deliver this word class education and research facility.

“Western Sydney University have been visionary in their pursuit of creating new ways for students to learn, and in partnership with Charter Hall are delivering a bespoke teaching facility at 1PSQ. We are proud to highlight that 1PSQ is being delivered to a fantastic quality as well as on time and on budget,” Mr Borger added.

Charter Hall’s Head of Office, Adrian Taylor said: “The depth of our internal development capabilities means that we are able to partner with our clients to deliver high performance workspaces as well as create investment grade properties, adding significant value and enhanced income yield and total returns for our managed funds.”

The Western Sydney University Parramatta City Campus is located in the Parramatta Square precinct, and will offer first class educational facilities to up to 10,000 students.

Vice-Chancellor, Professor Barney Glover, said 1PSQ is Western Sydney University’s first vertical campus, and will be one of Australia’s most digitally infused and technology-rich teaching and research spaces.

“It was less than 18 months ago we joined with NSW Premier Mike Baird to turn the first sod to mark construction on this site. Progress has been swift, and as we near the completion of the building phase, we are particularly excited for the internal fit-out to begin.

 

“The 10,000 students who will study here will find themselves immersed in one of the country’s most technologically-advanced learning environments – one that is highly interactive, and which uses personalised technologies and approaches to significantly enhance the student experience".

 

“Importantly, the campus’ connection to the civic heart of Parramatta will provide a unique student experience and encourage even greater engagement between the University, business and the community. Together, we are proud to make Parramatta a true university city,” said Professor Glover.

The new A-grade building will comprise approximately 26,500 square metres of commercial office space across 14 floors, with the University committing to the entire building on a 15 year lease, with further options.

The building is well located on the corner of Smith and Macquarie Streets within City of Parramatta’s greater Parramatta Square Masterplan, a strategic three hectare redevelopment in the city’s CBD, and has convenient access to rail, road, bus and ferry transportation.

City of Parramatta Administrator, Amanda Chadwick said Council was very happy to see the first building on Parramatta Square approaching completion.

“The topping out of WSU tower is also a major milestone for the $2 billion Parramatta Square project which will be a showcase for Smart City technology and the benchmark for future development in Parramatta.

 

“From early 2017 the tech-savvy students of this campus will be perfectly placed to benefit from the transition that is taking place in Parramatta, as it fulfils its role as Australia’s next great city.”

 

Targeting Environmental Design Excellence in sustainability, 1PSQ is designed to achieve 5 Star Green Star Education v1 Design and As Built ratings.

 

1PSQ Background Information

  • There are 14 levels of A-grade commercial space over 26,500 square metres
  • The University has committed to the entire building on a 15 year lease, with options
  • Floorplates range from approximately 1,484 to 2,242 square metres
  • The building’s design is the result of an international competition won by architectural firm Architectus
  • The space will be highly integrated with inter-floor connectivity within levels of the building
  • Onsite amenity to include vibrant ground floor retail
  • The building includes a central atrium which connects the podium floors
  • The southern façade of the building provides visual connectivity and direct access to the occupants of the building into Parramatta Square
  • A roof terrace provides a break out area with exceptional views to the north and the east
  • Targeting a 5 Star Green Star Education v1 - Design and As-built ratings, and 5 Star NABERS Energy rating