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12 June 2016 Posted by 

PARKLEA MARKETS REDEVELOPMENT

Tenant participation an option

By Red Dwyer

THE 22-hectare Parklea Markets is in line for a $1 billion redevelopment following its sale to Parramatta-based developer Dyldam.

The sale price is estimated to have been in excess of $80 million.

The site that has been purchased includes the popular Parklea markets on Sunnyholt Road as well as the Caltex service station, Outback Steakhouse, Hungry Jacks and a car wash on nearby Old Windsor Road.

The facility is expected to operate in its current form for the next three to five years with Dyldam indicating it will invite current tenants to participate in the new development.

The sale of Parklea Markets comes as a strategic purchase for Dyldam, with it being located 500 metres from the future Bella Vista train station.

“We are looking forward to working closely with Blacktown Council and the relevant authorities to bring this significant landmark site to its full potential,” said Sam Fayad Dyldam’s managing director,

“We plan to create a vibrant mixed use precinct of commercial, retail and residential that will promote positive social and economic outcomes for north-west Sydney.”

Parklea Markets, which first opened its doors in 1989 under the ownership of Con Constantine, has been a popular shopping centre for the past 27 years.

 



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