One of the only mixed-use developments approved in a R4 residential Zoning, 27-29 Tennyson Street, Parramatta, is for sale via online auction.
Representing a remarkable opportunity in the thriving Parramatta CBD, the 1486.5sqm site is approved for a 79 place childcare centre with 10 residential units above.
The ground floor childcare centre is approved for 20 kids between 0-2 years old, 30 kids between 2-3 years, and 29 kids between 3-6 years.
The 10 residential units will be configured as three one-bedroom units, six two-bedroom units, and one three-bedroom unit.
“This is one of the only mixed-use sites approved in a R4 residential zoning,” Ray White Commercial Western Sydney director Joseph Assaf said.
“Following government grants into the childcare sector, it has been identified by developers/ investors as a secure and long investment.
“This site has the fundamentals to make an ideal build-to-rent model.”
With the Paramatta population expected to grow by 60 per cent in the next 20 years, Mr Assaf said now was the perfect time to invest in the region.
“Parramatta CBD is undergoing a major infrastructure upgrade with the NSW government investing billions of dollars into Sydney’s second CBD,” he said.
“Parramatta is very tightly held with limited DA approved sites coming to market.”
The property will be offered via online auction on Wednesday, September 8, at 12pm.
Director – Ray White Commercial Western Sydney
0401 397 696
Media advisor – Ray White Group
0447 000 472