The ribbon has been cut on one of the biggest retail and industrial construction projects Sydney has seen in a long time.
The master-planned Sydney Business Park at Marsden Park in Sydney’s northwest was officially opened last week by Parliamentary Secretary for Western Sydney and Member for Hawkesbury Ray Williams.
The business park is set to host 90,000 square metres of bulky goods and trade centre floor space for big box retailers such as Bunnings, Masters, Ikea and Costco plus 130 hectares of industrial land and 50 hectares of commercial office space.
The new park will be overseen by development managers APP Corporation on behalf of private development firm Marsden Park Developments Pty Ltd and is set to become the first ‘fully integrated’ employment precinct in Sydney.
The concept involves the creation of a ‘hub’ for big box retailing which will offer flexible zoning and choice of lot sizes as well as the ability to co-locate office, manufacturing, distribution and retail facilities.
A key attraction of the new park, the developers say, revolves around its proximity to transport and significant residential areas. They say these advantages stem from 750 metres of frontage on Richmond Road, and from being close to the M7, M2 and the North West Rail Link. It will also be within a five-kilometre radius of 65,000 homes and within half an hour travel time for at least one third of Sydney’s population.
Following rezoning of the land in 2010, all but 3.9 hectares of the bulky goods space have been snapped up by four core tenants: Costco, Ikea, Masters and Bunnings.
Meanwhile, Shell and McDonalds have committed to sites within the service centre precinct, construction of which is expected to commence in 2014.
In addition to the building of the precinct itself, major infrastructure works to support increased traffic around the park - including a $102 million, two stage upgrade to Richmond Road and a three stage upgrade of South Street Schofields Road linking Richmond Road - are currently underway.
The developers say all industrial and commercial buildings will have a minimum 4-Star Green Star Rating and will use renewable energy and water recycling systems, while rainwater harvesting and waste management systems will form a significant part of protocols regarding sustainability.
Williams says the new park will play a pivotal role in commercial development within Sydney’s western suburbs, and that the creation of 17,000 new jobs once the precinct is complete will provide opportunities close to home for local residents.
“Sydney Business Park will provide a significant boost to the local economy and be a major contributor to the success of the North West Growth Centre,” he says.
All told, construction is expected to take place over 12 years, with the first stage comprising the bulky goods retailers expected to open early next year.