Apartments at a landmark 29-storey tower are selling fast, as Parramatta becomes one of the most sought after property hot spots in Australia.
The 590-apartment V by Crown Group has become known as Parramatta’s ‘Vertical Village’ located less than 300m from Parramatta Square; Parramatta City Council’s $2-billion redevelopment precinct and a short walk from Parramatta train station, Parramatta Heritage Parklands and Westfield Parramatta.
The luxury tower features high quality finishes and resort-style amenities including a pool, gym, sauna, conference facilities, music room, theatrette, a library and a ground level retail and restaurant precinct.
Two large V-shaped columns, each standing a striking three storeys tall; highlight the entrance to V by Crown Group located at 45 Macquarie Street, corner of Macquarie and Marsden streets.
One of the fastest growing areas of Australia, Parramatta is home to a number of key infrastructure and construction projects shaping the future of Greater Sydney.
Parramatta’s population is forecast to grow 24 per cent by 2036, from a total of 190,495 to 236,864. The suburb’s property values are forecast to grow 6.7 per cent in 2016 according to Your Investment Property Magazine.
The government also proposed a fast train link could reduce the travel time between Parramatta and the Sydney CBD to 15minutes. From Parramatta to the future airport at Badgerys Creek will be 25minutes.
Sydney Business Chamber’s western Sydney director David Borger said a 15-minute rail link would allow Parramatta to better compete with the Sydney CBD for jobs. Currently Parramatta is the second largest employment destination in the state.
Crown Group CEO Iwan Sunito said “Parramatta is a powerhouse for innovation and business, attracting some of the best and brightest talent from across Australia and the world. With the phenomenal growth of Western Sydney the potential for the city is enormous”.
“Parramatta has seen dramatic change since we began construction of V by Crown Group four years ago, and this project addresses the growing demand for high-quality apartments with resort-style facilities in Sydney’s second CBD,” he added.
Crown Group Director of Sales and Marketing Roy Marcellus said “Dozens of high-profile companies are shifting their workforces here to Parramatta and bringing executive-level jobs traditionally located in the CBD to Parramatta”.
“These executives work hard and want their home to match their lifestyle; they don’t want to settle for average apartments,” Mr Marcellus added.
“Parramatta had been missing the more glamorous high-end level of apartments available at V by Crown Group”.
Lord Mayor of Parramatta Cr Paul Garrard said: “There is a significant amount of development taking place in Parramatta with $12 billion worth of projects in the pipeline. It’s very exciting to see large projects such as this nearing completion and offering new housing to Parramatta’s ever increasing workforce and population.”
Once completed V by Crown Group will be home to hundreds of new residents and will feature Parramatta’s highest bar with sweeping 270 degree views of Sydney.
Crown Group has established a reputation for architecturally unique, resort-style residential development and has been recognized with a number of top industry awards including the UDIA NSW President’s award, Master Builders Association Excellence in Construction award, UDIA National High Density Development award and UDIA NSW award for Concept Design.
V by Crown Group is due for stage one completion in October 2016 and stage two in April 2017.