The GPT Group has acquired three buildings owned and operated by the Salvation Army located on the corner of 93-95 Phillip Street and 32 Smith Street.
The 2439-square-metre site includes offices and a church hall.
The purchase by the GPT Group, which has large retail and industrial interest across Western Sydney, marks the company’s first entry into the Parramatta market
“GPT is very excited to have marked its entry into Parramatta’s CBD office market by securing this prime location,” said Matthew Faddy, GPT’s head of office and logistics
The site, with a potential new gross floor area of 28,037 square metres, is suitable for a mixed-use hotel or serviced apartments and commercial project, according to industry sources.
The site is close to the Department of Education’s 25,000 square metres of ‘A-grade’ office space to accommodate 1800 government staff, under construction by DEXUS Property Group, at 105 Phillip Street,
The GPT Group owns the Rouse Hill Town Centre and co-owns Westfield Penrith and Macarthur Square, at Campbelltown, plus numerous industrial interests across the region.
Elsewhere in the CBD, the NSW Government has approval for the construction of a 17-storey school and a two-storey sports complex for the Arthur Phillip High School and the construction of 4-storey building for the Parramatta Public School, at 175 and 80-100 Macquarie Street, Parramatta.