Skip Ribbon Commands
Skip to main content

News release


Parramatta properties owned and occupied by The Salvation Army to be offered for sale

The gateway redevelopment site comprises three existing commercial buildings in the core of ‘Sydney’s second CBD’ and presents opportunity for redevelopment, including for mixed hotel and commercial use

Three buildings in Sydney's thriving Parramatta CBD currently owned and occupied by The Salvation Army as office and church hall accommodation will be offered for sale. The site will be sold via an Expressions of Interest Campaign by JLL's Regional Director, Sales and Investments – NSW, John Macree and Associate Director Michael Binskin, in conjunction with John Surian, Managing Director, Raine & Horne Commercial Parramatta.

Located at the corner of 93-95 Phillip Street and 32 Smith Street, Parramatta, the property is a prime redevelopment site with an area measuring approximately 2,438 square metres, with a potential new Gross Floor Area (GFA) of 28,037 square metres. It will have broad appeal to a range of potential users, but is expected to be redeveloped as a mixed-use hotel or serviced apartments and commercial site, to take advantage of the attractive 10:1 floor space ratio.

Mr Macree said, "This will be one of the first commercial development sites offered outside of the Council-led Town Square precinct in Parramatta for some time. Its position as a gateway to Parramatta CBD will provide strong incentive to commercial developers and institutional backed investors, whom we expect to see strong interest from, due to the exceptionally low vacancy of 1% in the Prime CBD office market. The site's exposure, accessibility and range of amenity that Parramatta offers are all attractions."

Mr Binskin said, "Parramatta is continuing to cement its position as Sydney's second CBD with the Council-driven Town Centre Projects, the new Western Sydney University and other key infrastructure, retail and attractions heading its way, including the Powerhouse Museum and the more recent announcement that short film festival Tropfest will establish itself there for coming years. These moves will help in attracting and retaining developers, investors, owner occupiers and tenants in the medium and long term."

Mr Surian said, "Over the past couple of years the focus and interest has been on the mixed-use residential high rise opportunities within Parramatta CBD. This has led to withdrawal of commercial stock, putting further pressure on vacancies. There is now strong demand and interest in commercial development; the strongest I have seen it in 43 years in Parramatta."