Potential council redevelopment properties

Parramatta City Council holds developable land portfolio worth in the order of $200 million, of which a number of properties are being investigated for their development potential. These include: a) the 10,812 square-metre David Frater Car Park, facing the Parramatta River in the CBD, and valued at $71.2 million. Adjacent owners have approached council with a view to a joint proposal, b) the 10,000-square-metre Horwood Place Car Park, valued at $24.4 million. A major commercial redevelopment with adjoining owners was possible in a public-private partnership, c) the 3308-square-metre Fennell Street property, valued at $4.6 million, which could be a commercial and residential redevelopment with a major anchor tenant.