Article originally published by the MP Report on the 26th November 2018
As the largest and nearest city centre to the future Western Sydney Airport (due for completion in 2026), Liverpool in the heart of Sydney’s south-west is set to become the next most significant CBD centre, making it a prime opportunity for astute property investors or homeowners.
At the heart of Liverpool, fronting the tranquil, meandering Georges River is Coronation Property’s mixed-use precinct, The Paper Mill. The dynamic residential development brings inspired, world-leading architectural design by Woods Bagot and landscape design firm,
Aspect Design, underpinned by the development quality for which Coronation is renowned, to create a vibrant, sophisticated lifestyle community. “Lifestyle is at the heart of all of our residential communities,” says Coronation’s Urban Transformations Director Aras Labutis.
“As one of Western Sydney’s premium developers, we are committed to delivering an exceptional standard of living in western centres such as Liverpool and Parramatta, which up until now has only been available in inner-city Sydney locations.”
“We share in the vision of the local Councils and the State Government in creating vibrant communities with top tier operators and industry leaders – creating well-conceived, multidimensional new environments for generations of families to build their lives around.”
Western Sydney Airport: an economic driver for Liverpool’s future Set to create 11,000 construction jobs on a $5.3 billion build, the Western Sydney Airport, now under construction, is set to be “a major shot in the arm for the Liverpool economy”,
Liverpool City Council Mayor Wendy Waller has stated.
According to a report prepared by PwC, ‘Liverpool: the Gateway to Sydney’s Aerotropolis’: Western Sydney Airport is a once-in-many-generations opportunity for Western Sydney and Liverpool.
The report states: ‘Over time, Western Sydney Airport will become one of Australia’s most significant airports, driven by Western Sydney’s population and growing economy (now the third largest in Australia), Sydney’s overall position as Australia’s most populous city and largest international trade hub, along with increasing capacity constraints at Kingsford Smith Airport.’
As the largest commercial hub of all of the ‘edge cities’ which surround the new airport, the most significant opportunity exists for Liverpool being mid-way between the airport and Sydney CBD.
Chief Economist for My Housing Market, Dr Andrew Wilson predicts that the Western Sydney Airport along with other associated significant infrastructure and amenity initiatives including the $740 million Liverpool Hospital upgrade, will create economic energy for Liverpool which will sustain it as a thriving commercial centre for generations to come.
Major revitalisation to Liverpool CBD
In September this year, the NSW Planning Department announced plans to “completely revitalise the Liverpool city centre in collaboration with Liverpool City Council, which will see up to 10,000 new homes built and more than 22,000 new jobs created.”
As part of the revitalisation, 25 hectares of land in the city centre has been rezoned from commercial to mixed use, to reinvigorate the CBD and build a vibrant new commercial and residential hub.
Minister for Planning and Housing, Anthony Roberts announced that rezoning the land will unlock Liverpool’s potential as a thriving and well-connected place to live, work and play.
“The rezoning enables increased heights for selected key sites and will ensure people have easy access to public transport, the city campuses of both Western Sydney University and University of Wollongong and Liverpool Hospital’s $740 million redevelopment.”
“Council’s plans to rejuvenate the Liverpool CBD will see improvements to pedestrian and cycle paths throughout the city to enhance access to the Georges River.”
Liverpool City Council Mayor Wendy Waller said by allowing homes and a mix of businesses in the Liverpool CBD we can encourage a lively city neighbourhood, with new lifestyle and entertainment facilities which will provide a vibrant night-time economy.
The Paper Mill: Liverpool’s most prestigious riverside community
Located on the Georges River at 20 Shepherd Street in Liverpool, The Paper Mill by coronation comprises just under 900 apartments delivered across four stages, as well as a destination 1,888sqm, 500-seat café and dining experience housed within the heritage paper mill building. This fully enclosed and airconditioned space will also provide function rooms, a children’s play area and entertainment space for community activities.
The first two buildings were completed in January 2018 and have now sold out. With approximately 90 percent of apartments across the precinct already sold, opportunities to buy in the remaining three stages are running out.
“Once The Paper Mill is fully occupied, there will be approximately 2,500 residents who will have direct access to the river, not to mention all the local Liverpool residents who will be attracted by the vibrant river activity, both on and beside the water. We really want the project to be the catalyst for the revitalisation of Liverpool and its reorientation towards the river,” Mr Labutis said.
The Paper Mill delivers a prime first home buyer as well as investor opportunity with apartments starting from $395,000 for a studio, $497,000 for a one bedroom apartment or only $590,000 for a two bedroom apartment.