Parramatta Investment Property Research

Parramatta Postcode: 2150

Parramatta is a suburb of Sydney and is located approximately 23 kilometres west of the Sydney Central Business District (CBD). Parramatta is also the sixth largest central business district in Australia, the second largest central business district in Sydney as it is the main economic capital of Greater Western Sydney. Parramatta is bordered by suburbs such as North Parramatta, Oatlands, Dundas, Camellia, Rosehill, Harris Park, Mays Hills and Westmead.

Parramatta enjoys the benefits of having one of the largest shopping centres in Sydney, Westfield Parramatta. Within the shopping district, Church Street Mall provides many shops and popular restaurants which feature al fresco dining.

There are many motorways connected to Parramatta leading to other major parts of Sydney such as the M4 Western Motorway, Great Western Highway, Cumberland Highway, James Ruse Drive, Victoria Road and Windsor Road.

Public transport is provided mainly by way of public train services from Parramatta Station operating along the Western Line, Blue Mountains Line, Cumberland Line and Northern Line which provide services to Blacktown, Penrith, Richmond, Berowra, Hornsby, North Sydney and the Sydney CBD. Parramatta features a bus interchange within close proximity to Westfield Parramatta and Parramatta Station which provide public and private bus services such as Busways, Veolia, Hillsbus and Westbus. Parramatta is also serviced by ferry which provides transport to Sydney Olympic Park, Cockatoo Island, Darling Harbour, Milsons Point and Circular Quay.

Parramatta is located approximately 21 kilometres north west from the Sydney Kingsford Smith International Airport.

Development within Parramatta comprises mostly of commercial buildings, residential units and apartments, car dealerships, restaurants and cafes.

The Parramatta area is abundant with educational facilities which include several public schools such as Arthur Phillip High School, Macarthur Girls High School and Parramatta Public School. There are currently several private schools which include that of St Patrick’s Primary Parramatta, Our Lady of Mercy College, The Kings School and Tara Anglican School for Girls. Within 2 kilometres of Parramatta is the University of Western Sydney located in Rydalmere and the University of Western Sydney College which is located in Westmead.

There are two Post Offices within Parramatta which are located on Argyle Street and Macquarie Street and more than five post boxes throughout Parramatta.

There is a diverse range of banking and ATM facilities within Parramatta which include St George, Arab Bank Australia, Bank of China, National Australia Bank, Bankwest, Bendigo Bank, Beirut Hellenic Bank, Commonwealth Bank and Westpac.

Parramatta provides many beautiful parks and reserves, some of which are located along the Parramatta River such as Parramatta Park, Parramatta City Council Park and the Bangihou Reserve. The suburb is also host to the Parramatta Stadium and Leagues Club.

Development
Parramatta has always been a growing area as more recently businesses have been moving out of the Sydney CBD to benefit from the less expensive rents that are available in Sydney’s west. Due to such activity, there has been strong population movement towards Parramatta to follow employment opportunities and to work closer to home. It has been estimated that as the Greater Western Sydney grows, Parramatta acting as a secondary CBD, will have increased its employment opportunities by approximately 30,000 over the next 20 years. Such growth invites for new development to be able to supply for the upcoming demand of residential properties.

Such developments have already taken place to accommodate the increase demand for residential complexes such as the Civic Place Development which is located within the heart of Parramatta. The highly anticipated $1.6 billion Civic Place development will provide 170,000m² of residential, retail and A grade commercial space which will further allow for large businesses to relocate to the Parramatta CBD.
Westfield Parramatta has also proposed a $446 million development upgrade which is currently still in the process works of approval. The proposal involves an additional single level of retail, a 20 storey commercial tower and an additional 1,100 above ground car spaces. With the revamping of Westfield Parramatta it will be able to furthermore attract more people to the Parramatta area and develop the city as a major central business district.

As Parramatta city grows, it will be able to cater more efficiently for people that live in the Greater Western Sydney area.