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NSW - Melrose Park - More high density coming - 5000 apartments

Discussion in 'General Property Chat' started by Gockie, 29th Feb, 2016.

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  1. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    West of West Ryde, East of Parramatta on the Northern Banks of the Parramatta River....

    No Cookies | Daily Telegraph


    PAYCE Consolidated has announced plans to transform the industrial area of Melrose Park in Sydney’s west into one of Australia’s biggest urban redevelopments including 5000 new apartments.

    The plan for the massive 30 hectare site between Hope St in the south and Victoria Rd to the north is to create a mixed use development featuring housing, commercial offices, retail space and community facilities.

    It is projected to create 1500 new jobs in Sydney’s west and community benefits will total more than $100 million.

    Community facilities such as an amphitheatre, childcare centres and multipurpose community centres are all slated in the plan.

    New transport links are also featured including an electric shuttle bus service to Meadowbank and West Ryde train stations and additional ferry services.

    PAYCE lodged its urban renewal plans with Parramatta City Council this week.

    “Our Plan presents a vision for the area that comprises a multi-staged mixed-use development which would result in 1,500 new jobs, new housing (including affordable and key-worker accommodation), commercial office and retail uses, along with a range of new and enhanced community facilities, public parks and other wider community benefits,” PAYCE general manager Dominic Sullivan said.


    “We engaged some of the most creative people in the country to come up with fresh innovative ideas that would maximise the opportunities and benefit everyone who might work, live, play or shop in the precinct.”

    Mr Sullivan said discussions were planned with relevant authorities for a private ferry service loop between Melrose Park, Parramatta and Sydney Olympic ParkHe said four leading design teams had also had input into developing the Structure Plan.


    “For example, the plan includes a retail village centre, as well as open space totalling 3.8 hectares, including a new central park, a community oval to be shared with Melrose Park Public School, a large garden park and numerous pocket-parks throughout the precinct.

    “Sustainability is at the heart of the new Plan, featuring renewable energy generation for future homes, water recycling, sustainable transport initiatives and electric charge points for cars.”

    Mr Sullivan said the proposed community benefits totalled more than $100 million and would be provided at no cost to council or its ratepayers.

    “It’s a very exciting plan and there are a lot of opportunities to explore. We look forward to discussions with Council and the community to get their thoughts and comments,” he said.
     
  2. neK

    neK Well-Known Member

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    Interesting. I wonder what that does for nearby housing prices (cg and yield)
     
  3. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Well, the artist's impression image in the article makes it look like a nice place to be....
     
  4. propernewb

    propernewb Well-Known Member

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    More supply. Developers win.
     
  5. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Much nicer than an industrial area!
     
  6. Ted Varrick

    Ted Varrick Well-Known Member

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    If I was a car dealer at West Ryde with a service centre, I would certainly be pleased to read something like this...
     
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  7. neK

    neK Well-Known Member

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    Why is that?
     
  8. mini2

    mini2 Well-Known Member

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    There's only the Tom Kerr's dealers, a Ford and a Holden there. Probably more like bad news for Top Ryde centre given another centre is popping up nearby.
     
  9. Biz

    Biz Well-Known Member

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    If I was a developer there I would call my apartment complex Melrose Place.
     
  10. Ted Varrick

    Ted Varrick Well-Known Member

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    Um, because if I read something like:-

    PAYCE Consolidated has announced plans to transform the industrial area of Melrose Park in Sydney’s west into one of Australia’s biggest urban redevelopments including 5000 new apartments.

    The plan for the massive 30 hectare site between Hope St in the south and Victoria Rd to the north is to create a mixed use development featuring housing, commercial offices, retail space and community facilities.

    I might think that being a car dealer just up the road could be a bit of a special thing, and then I might think that it could be good for my business, both in the selling of new and used vehicles and also of ongoing service business.

    That's why.

    And assuming Biz gets his Melrose Place complex happening nearby, with a bunch of celebrities engaging in behaviour that will keep Who Weekly in print for the next couple of years, there might be a bunch of coin to be had.

    What do you think neK?

     
  11. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Melrose Park Place sounds posh to me.

    For car dealerships.... how likely is it that the land they sit on may also turn into high density residental? Those dealerships must have been around for 40 years or longer.
     
  12. Ted Varrick

    Ted Varrick Well-Known Member

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    On the contrary, a whole bunch of crazy unit developments just up the road will probably benefit all of these car dealers. Let's face it, who wouldn't want the next generation Commodore when it looks like this (and hopefully the viewer has a bucket in the near vicinity...):-

    Next Holden Commodore will be German

    But, all the shopkeepers in Ermington will probably be doing cartwheels.

    And Top Ryde has a big refurb going on with a Coles and KMart and extra food court and a bunch of specialty stores going in, so they will probably be pumped as well.

    Now, imagine if someone started talking about a fast rail link from Parra to Sydney CBD with a station Ryde?
     
  13. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Dont forget there's Aldi and Bunnings at Rydalmere just a little further west! Bunning's Rydalmere is my new favourite Bunnings. :)
     
  14. neK

    neK Well-Known Member

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    To be honest I have no idea on this.
    I don't have the stats or enough knowledge in relation to correlation between location of where people live to the where they buy their cars.

    If someone is silly enough to buy OTP, then perhaps they are silly enough to buy a new car without without doing much research. Alternatively they could have also spent that much money on buying a OTP that they have no more money to splurge.

    Maybe in a few years after they might, then again they may wisen up and go car shopping where they jump dealer to dealer. As for servicing, I bought my car at Tom Kerr, but i don't live local. Tom Kerr's servicing is actually located in Gladesville. Even though it takes me 50 mins to drive there in peak hour, I still take the car to get serviced there due to the "warranty", that said I probably don't fit the mould of their typical customers who buy at first site, who knows. As soon as the "warranty" period is finished, I'm not going there anymore. I'll get my regular mechanic to look after the car or I'll go to the local service centre.

    As for car sales to new business, again, I would have expected people to shop around. The carsales app makes it very easy to compare prices dealer to dealer. As for bulk deals, I would have guessed that most organisations would use something like fleet to take care of it for them.

    That said, if you have more info / stats to share I would love to see it to gain a better insight.
     
  15. Ted Varrick

    Ted Varrick Well-Known Member

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    Fair enough.

    I was just guessing that if 5000 new apartments got plonked in up the road, and I was a car dealer, I would be fairly pleased as I might benefit by turning over some more wheels.

    But given that the smartphone generation, and those shareholders of Carsales.com (ASX code CAR) might be able to find a cheaper price elsewhere.

    But, as anybody who has a read a Tom Hopkins bible (and I realise it's really old, but not yet out of date), any sales person (and they are a lot more valued these days) worth their pay cheque, would be reeling in a bunch of these new customers left, right and centre.

    No info or stats to share (given the buildings haven't been built, the people haven't moved in, and the sales haven't translated to the P&L...), but if you find any, or just feel like posting some kind of hockey stick graph, or even a bit of a guess, feel free to post them.
     
  16. jeffb5ltr

    jeffb5ltr Active Member

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    Thread Revival:

    Heard a rumor at a site meeting across the river at Wentworth Point, that not only is there a new ferry stop going in at Rydalmere, that the developers as a joint venture are doing a feasibility study to put a bridge across from Wentworth Point to Wharf Rd Melrose Park.

    Anyone else heard this?
     
  17. Scott No Mates

    Scott No Mates Well-Known Member

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    Isn't there already a wharf at Rydalmere?

    As for a bridge - too many local roads but at Wharf Rd it may work once they remove the transmission lines.
     
  18. Simon Hampel

    Simon Hampel Founder Staff Member

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    I think that went right over the head of most of the youngsters here.
     
  19. hash_investor

    hash_investor Well-Known Member

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    true
     
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  20. mikey7

    mikey7 Well-Known Member

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    The title says '$100m urban redevelopment in Melrose Park'.
    Surely its a hell of a lot more than $100m??