New masterplanned precinct in Merrylands to launch soon
ALAND is excited to announce The Gladstone Village, an $800 million new master-planned precinct in Merrylands.
It is anticipated there will be strong demand for the first stage of this project, which will be released to market next month.
The prime 2.5-hectare site, located adjacent to the Merrylands train station, has DA approval for 365-apartments set across three buildings – up to 20 storeys in height – with construction set to start in May this year.
With a rooftop pool and vast landscaped open areas, it is a rare offering for Merrylands and one of the last remaining pockets along Sydney’s rail network to be developed.
Chief Executive Officer George Tadrosse said planning delays, material and labour shortages as well as a magnitude of impacts as a result of the pandemic, has resulted in a desperate shortage of apartments coming onto the market. In addition, buyers now priced out of the housing market are looking for affordability, adding pressure to the supply of apartments.
“There are all these compounding factors influencing the property market at the moment but ALAND is in a good position to deliver the majority of stock in Western Sydney.
“Merrylands is also an attractive suburb to investors because it is only a short distance to Parramatta CBD. It is the first development of its kind in the suburb and within close proximity to Stocklands Merrylands and the train station and bus terminal.”
“It will offer affordable luxury in the heart of a vibrant cultural epicentre that will benefit from the huge economic growth of the Parramatta City region.
– ALAND CEO George Tadrosse
The DA-approved first release offers a mix of studio, one-, two- and three-bedroom apartments along with a ground floor central communal space plus rooftop areas with swimming pool, terrace, barbecue with picnic/seating area.
“It will offer affordable luxury in the heart of a vibrant cultural epicentre that will benefit from the huge economic growth of the Parramatta City region. The Merrylands suburb is an undervalued pocket in comparison to its surrounds – which is a huge opportunity for buyers” said Mr Tadrosse.
The remainder of The Gladstone Village site is to undergo planning with current controls allowing for a mix of retail, residential and commercial surrounding 5000m2 of internal parkland and another 6000m2 of open space.
With the avid support of the local community and council, The Gladstone Village is set to boost suburb popularity by the first stage completion.
ALAND has more than 1200 dwellings under construction at any one time, delivering projects every quarter. With leading market share in Sydney’s western corridor, they have managed to secure stock, material and labour at optimal efficiencies to meet the demand of their pipeline.