Parramatta. 25-storey tower

Crown International Holdings Group has received DA approval for a 25-storey mixed-use, residential, commercial and ground floor retail precinct, at 45 Macquarie Street, in the Parramatta CBD. The approval was for the development of 370 apartments, 3000 square metres of commercial floor space, 1500 square metres of ground floor retail space all within a 25-storey building. Apartments are expected to sell from around $400,000 for a one-bedroom apartment with car space while three-bedroom penthouses expected to sell from over $1 million. Construction is expected in early 2012. Estimated end value: $300 million. Crown Group acquired the site in July 2009 from Becton Property Group for $15 million.