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Artist impression of Coronation Property’s development at 8 Phillip Street, which is expected to be completed in 2020. Artist impression of Coronation Property’s development at 8 Phillip Street, which is expected to be completed in 2020. Featured
30 July 2017 Posted by 

NEW RECORD FOR CITY

Penthouse sells for $3M
RED DWYER
THE sale of a penthouse off the plan in the Parramatta CBD for $3.32 million is believed to be five times Parramatta’s $626,500 median apartment price and has set a record rate of $17,500 a square metre.
An unidentified Hills District businessman and his wife have downsized their home for a three-bedroom, four-bathroom penthouse with 180 degree views in a 55-floor apartment and hotel in the Church Street “eat street” precinct 
 
Construction is yet to start on Coronation Property’s development at 8 Phillip Street, which is expected to be completed in 2020.
 
“This will be the first five-star building in Parramatta, from the ground up Jasom Soulos, sales director, of Coronation Property.
 
A previous buyer, local businessman, Bob Reiman, paid $3 million in late 2016 for another penthouse in the building.
 
To be known as “8 Phillip Street”, the project includes 314 apartments over 35 floors and a boutique 14-storey QT Hotel.
 
QT Hotels & Resorts, formerly Amalgamated Holdings, is the concept of Event Hospitality & Entertainment Ltd, owning and operating a number of hotel and lifestyle businesses throughout Australia and New Zealand. 
 
“Coronation’s contribution through the development of 8 Phillip Street is a major endorsement for Parramatta’s future growth and success,” said. Sydney Business Chamber director, David Borger
 
The project will also include a rooftop venue, Studio 54, multiple meeting and event spaces, grand ballroom, an alfresco open-air pool on the 18th floor and two of Rockpool Dining Group signature restaurants.
 
Earthworks at the site are expected to commence later this year.
 
Elsewhere in Parramatta, a 12 storey hotel is proposed as part of a $110 million leisure and entertainment at the Parramatta Leagues Club. Plans for the club to brew its own beer are proposed.


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