LEIGHTON PROPERTIES TO REVITALISE PARRAMATTA WITH 1PSQ
Mark Stante 04 AUG 2014
Leighton Properties has announced it has recently signed an option agreement to acquire the 4,132sqm site at 169 Macquarie Street from Parramatta City Council.
The 26,000sqm office development 1PSQ at 169 Macquarie Street is set to commence construction with the University of Western Sydney (UWS) signing a Heads of Agreement with Leighton Properties to occupy the 14 level, A-Grade tower at 1PSQ.
UWS Vice-Chancellor Professor Barney Glover said Leighton Properties was selected as the preferred development partner based on the strength of the building’s design, flexibility and prominence.
“This project forms a vital part of the University’s strategy to significantly expand its international student population, and be a focal point for our postgraduate programs."
“Our vision is to create a campus that not only provides students with a lively, cosmopolitan atmosphere to enjoy, but provides them with important links to amenities and public transport, as well as connecting them to the many other exciting developments underway in Parramatta”
“We look forward to working with both Leighton Properties and Parramatta City Council to progress the final details for presentation to the UWS Board of Trustees at the end of August for its final consideration and approval.” he said.
Managing Director of Leighton Properties, Mark Gray said “It is an exciting time for Leighton Properties, as 1PSQ is the catalyst to the Parramatta Square master plan and will be an iconic contribution to the Parramatta central business district. It is an exemplar of Leighton Properties expertise in the development of commercial buildings with high sustainability, architectural quality and amenity.”
“Our capabilities and experience in providing innovative solutions for large-scale projects positions us well to deliver a world class building for UWS. We look forward to delivering an innovative education facility for UWS with leading design, student area connectivity and integration to the piazza of Parramatta Square.” Mr Gray said.
1PSQ is the first stage of Parramatta Square; a six-stage, three-hectare master plan development by Parramatta City Council. The master plan will potentially include approximately 190,000sqm of commercial and retail development, more than 500 apartments, and 7,000sqm of new council facilities including civic administration, a community centre, and a new library.
Lord Mayor Cr John Chedid said he was delighted UWS had selected the first stage of the $2 billion Parramatta Square project at 1PSQ as the preferred site for the new CBD campus for 10,000 students.
“We know great universities strengthen great cities – and this major milestone in our vision for Parramatta Square. It will further boost development and growth in our CBD and help make Parramatta a true city of the 21st Century” he said.
Leighton Properties has played a significant role in the revitalisation of Parramatta, with 1PSQ to be the Company’s fourth tower development in the area over the past eight years. Developments include multi award-winning Eclipse Tower at 60 Station Street, 25 Smith Street and 101 George Street.
The building’s design is the result of a competition won by architecture firm, Architectus. They have created a modern design scheme, featuring a side core and central atrium, which delivers efficiency, flexibility, connectivity, and abundant natural light – key elements that meet UWS’s requirement. With car-parking on-site, a roof terrace, ground floor retail and located in the heart of Parramatta, less than 100 metres from the bus/rail interchange, 1PSQ will offer the presence, convenience and amenity to UWS.
Leighton Properties appointed CBRE as exclusive agents for the leasing of 1PSQ.
1PSQ Background Information
- 1PSQ is a 14-level tower with 26,000sqm of A-Grade commercial space
- Floorplates range from approximately 1,484sqm to 2,242sqm
- The space will be highly integrated with inter-floor connectivity within levels of the building
- Onsite amenity to include vibrant ground floor retail
- The building includes a central atrium which connects the podium floors and offers the opportunity to move between floors and create a vertical campus
- At the southern façade of the building, the vertical volume of the atrium engages with the southern courtyard and draws the occupants of the building into Parramatta Square.
- A roof terrace on top of the vertical campus provides the opportunity for a break out area with exceptional views to the north and the east
- Building excellence in sustainability, designed to achieve a 5 Star Green Star v3 rating (Design and As-built rating), and 5 Star NABERS Energy rating
For more information
Phone+61 2 9925 6162
Email Mark Stante