Parramatta continues to experience strong growth with new transport options and sleek developments like Paramount on Parkes coming onto the market.
The latest development by ALAND called Paramount on Parkes features one-, two- and three-bedroom apartments that combine luxury and convenience. Over 70% of these new apartments have already been sold.
Paramount on Parkes has been attracting strong interest from buyers.
With one-bedroom apartments priced from $629,000, the project is attracting a cohort of downsizers and investors who see strong potential in Parramatta, which is already established as a city with global ambitions.
“We're seeing really strong interest from professionals who live and work in the CBD and investors who are taking advantage of a really strong rental market,” said Scott Rudgley, Head of Sales at ALAND.
With an impressive list of amenities and high-end finishes evident throughout the apartments, Paramount on Parkes is considered an exciting development in the area for those seeking a modern lifestyle with a touch of luxury.
Parramatta: Sydney’s second CBD
Located just 25 minutes’ drive west of Sydney CBD, Parramatta is one of Sydney’s more affordable locations. The PropTrack Housing Affordability Index in April 2024 showed that Parramatta is the most affordable region in Sydney, which is now attracting much interest from owner-occupiers and investors.
“Parramatta has the third biggest economy in Australia, behind Sydney and Melbourne, and there’s been a huge infrastructure investment, both private and public of about $29 billion – with one of the major investments being the light rail,” explained Mr Rudgley.
Parramatta has a thriving CBD with a wealth of amenities for residents and businesses.
Many businesses are opening branches in Parramatta, which now offers a large selection of retail, restaurants and entertainment options, plus other attractions such as the Powerhouse Museum, Riverside Theatres, EatStreet, Westfield Parramatta.
In addition to its growing CBD, Parramatta also offers plenty of green space and easy access to nature and sporting facilities.
Showstopping resort-style amenities
The apartments at Paramount on Parkes have been completed with high-end fixtures and finishes including gold trim tapware, Fisher & Paykel appliances, and 40mm benchtops in the kitchen.
In addition to the luxurious apartment living, Paramount on Parkes provides several shared resort-style amenities that help create a stronger sense of community, and also to elevate the quality of living for residents.
Some of these exclusive resident-only amenities include a swimming pool on the podium level, a communal barbecue area where residents can host friends and family or mingle with neighbours, plus a children’s playground on level 4.
The top six levels of the building will serve as commercial office spaces and the ground level as a retail space.
“To have those exclusive resident-only amenities right smack bang in the middle of Parramatta CBD is quite unique,” said Mr Rudgley.
Stylish interiors complement the lifestyle on offer at Paramount.
Act now to secure your dream apartment
With the majority of the apartments already sold and construction nearing completion, the remainder are not expected to last much longer, according to Mr Rudgley.
ALAND is offering hard hat tours of the development, with two furnished apartments on level 26 available to view by prospective buyers.
According to PropTrack data, units in Parramatta have seen 3.3% growth in the median price over the past 12 months and a 5.5% gross rental yield. Mr Rudgley says Paramount on Parkes is an attractive opportunity for those looking to invest in this fast-growing region.
“The city [Parramatta] has a buzz about it and it’s only going to get better with Western Sydney University already a strong presence, and new infrastructure such as the light rail making Parramatta even more accessible, ” he said.
Get in touch to book your hard hat tour of Paramount on Parkes or enquire below for more information.
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