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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

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.


editor

Publisher
Michael Walls
michael@accessnews.com.au
0407 783 413

Access News is a print and digital media publisher established over 15 years and based in Western Sydney, Australia. Our newspaper titles include the flagship publication, Western Sydney Express, which is a trusted source of information and for hundreds of thousands of decision makers, businesspeople and residents looking for insights into the people, projects, opportunities and networks that shape Australia's fastest growing region - Greater Western Sydney.