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KPMG's western Sydney office is located in Parramatta. KPMG's western Sydney office is located in Parramatta. Featured

ENGINE ROOM OF NSW

Parramatta experiencing business boom

By Di Bartok

THE engine room of NSW is the tag the Urban Development Institute of Australia has given Western Sydney - which is no surprise to those who work and live in the region.

But now it seems that businesses, workers and people looking to buy residential property are starting to sit up and take notice.

As NSW’s fastest growing region, the area has government departments, big businesses and families flocking to take advantage of its diversity and appealing lifestyle.

The figures speak for themselves. About 30 per cent of Australia's top 500 businesses have offices in Western Sydney, which is set for $8 billion worth of new development, and include BHP Billiton, Bluescope Steel, Coca Cola Amatil, Deloitte and the Commonwealth Bank.

Government agencies such as the Australian Taxation Office, Department of Defence and NSW Department of Attorney General and Justice also have offices in the west.

Parramatta has now become the second-largest work destination in Sydney. In 2011, the city had 16,360 registered businesses and a Gross Regional Product of $14 billion which has been growing steadily, and employs about 120,000 people.

The city’s attraction as a corporate destination has been underpinned by KPMG’s recent opening of an agile office at Phillip Street, Parramatta. The office was opened by Premier Mike Baird prior to the recent state election.

Both State and Federal governments are pouring millions of dollars into vital infrastructure in the region, attracting businesses to Liverpool, Blacktown, Penrith, Holroyd and The Hills as well as Parramatta.

But, as the capital of Western Sydney, Parramatta is experiencing unparalleled expansion with developers attracted to Parramatta Council’s “open for business” approach.

UDIA has already rated Parramatta as the most liveable centre in NSW for its excellent public transport, jobs, open spaces and diversity of homes on offer.

"Parramatta is now rated very highly by business and industry because of both the State and Commonwealth governments committing to large infrastructure investment," Stephen Albin, CEO of the Urban Development Institute Of Australia said.

Parramatta is set to become even more liveable with council’s draft river strategy.

One of the prime developments happening along the riverfront in the CBD is River Vistas, providing a range of one bedroom-plus, two-bed and three-bed apartments now selling off the plan through CBRE.

Development executive for River Vistas developer JQZ Bryan Zhang said there was “a big potential” for quality homes in Parramatta.

“Our project is unique in that it's convenient to the city centre but it also has a great position next to the river and parklands," Mr Zhang said.

Helping Parramatta establish itself as Sydney’s second CBD, is the University of New England's Future Campus that will provide state-of-the-art teaching technologies and University of Western Sydney plans for a new campus at Parramatta.

Then there is expansion of Westmead Medical Research Precinct – already NSW's largest health district.

By 2036, the precinct is expected to generate 7000 new jobs and employ 21,000 people.

David Borger, Western Sydney Director of the Sydney Business Chamber said Parramatta was drawing more business and patronage through revitalisation projects.

"There are now a whole bunch of smart job opportunities," he said. “Church Street has really been revived and a whole new night-time economy has been created with so many restaurants, cafes, bars, theatres, hotels and sporting stadiums."



editor

Publisher
Michael Walls
michael@accessnews.com.au
0407 783 413

Access News is a print and digital media publisher established over 15 years and based in Western Sydney, Australia. Our newspaper titles include the flagship publication, Western Sydney Express, which is a trusted source of information and for hundreds of thousands of decision makers, businesspeople and residents looking for insights into the people, projects, opportunities and networks that shape Australia's fastest growing region - Greater Western Sydney.