Menu
After acquiring 129 – 153 Parramatta Road and 53 – 75 Queens Road in Five Dock for a speculated $260 million, Deicorp has filed a scoping report with the planning department for a mega mixed-use development.
With the circa 31,000 sqm site being amalgamated over two decades by the Dodaro and Drivas families, the site is situated in the Kings Bay precinct – a strategic location in Sydney’s inner west and close to major transport networks.
Deicorp’s plans include:
– 6 x residential towers up to 30 storeys above 6-8 level podiums, yielding 1185 apartments,
– a mix of retail and commercial tenancies, as well as an indoor recreation facility,
– a connected public space network that incorporates the new Spencer Street road extension and new pedestrian-focussed through-site links, and
– 16 x stratum subdivision lots.
Deicorp is offering 128,173 square metres of gross floor area and intends to utilise the 30% height and FSR incentive under the Housing SEPP by dedicating 15% of the apartments to affordable housing. The height and FSR bonus will result in an overall maximum building height of 102.7 metres, excluding proposed architectural roof features and lift overruns.
For context, the Parramatta Road Corridor Urban Transformation Strategy 2016 was adopted in 2016 by the NSW Government to facilitate the transformation of Parramatta Road over the next 30 years. As part of the strategy, an implementation plan was developed to outline the short-term rezoning strategy for precincts within the corridor. This identified the first release of land suitable for rezoning between 2016 – 2023.
In December 2022, the corridor strategy’s planning proposal to deliver stage 1 was finalised by the planning department. This introduced new planning controls for the three precincts within the City of Canada Bay, including Homebush North, Burwood-Concord and Kings Bay.
Existing on Deicorp’s site are commercial and warehouse facilities, which reflects the historic industrial land use zoning applying to the site.
Share on socials
Trusted by 10,000 + Property Professionals Weekly
© 2024 Sydney Development Journal. All Rights Reserved.
Website by Digital One
