This article is from the Australian Property Journal archive
PARRAMATTA-based property company Dyldam has bought the 21.6ha Parklea Markets in Sydney’s north-west, with plans for a $1 billion development.
The Parklea Markets site includes Australia’s largest indoor market and its surrounding carpark area, a main road service centre, a free-standing residence and vacant land.
Managing director Sam Fayad said whilst the markets will continue to operate “business as usual” under existing management for the next 3-5 year, the 21.6ha site has huge development potential.
He added that the Parklea Markets site complements Dyldam’s existing strategic land bank portfolio which includes the Bull n Bush Hotel site, the former Bonds Spinning Mills in Pendle Hill, both Samantha Riley and Balmoral Road sites in Kellyville and key Parramatta sites Auto Alley and the former Cumberland Newspaper site at 142 Macquarie St.
“Dyldam intends to spend the next few years in planning proposal stage to ensure a world-class mixed use development worthy of the iconic site.
“Dyldam will then look to invite existing tenants to participate in the vibrant commercial mix at the new development.
“We are looking forward to working closely with Blacktown Council and the relevant authorities to bring this significant landmark site to its full potential. We plan to create a vibrant mixed use precinct of commercial, retail and residential that will promote positive social and economic outcomes for north-west Sydney,” Fayard said.
Australian Property Journal
