Parramatta Property Update
Commercial, Retail & Development
January 2026 | Cumberland Realty – Market Insights
Parramatta continues its transformation into Australia’s leading “second CBD”, supported by major infrastructure investment, large-scale commercial development and a growing mix of retail and residential projects.
Below is an overview of what is already underway and what is shaping the future of property in Parramatta.
Commercial Development: A Changing Skyline
Parramatta’s skyline is rapidly evolving, with several major commercial projects reinforcing its role as Western Sydney’s primary business centre.
A new 58-storey commercial tower at 87–91 George Street is now under construction. Once completed in 2028, it will deliver a substantial volume of premium A-grade office space in the heart of the CBD, attracting major corporate and institutional tenants.
6 & 8 Parramatta Square continues to anchor the city’s commercial core, offering approximately 120,000 square metres of office accommodation and supporting thousands of jobs across government, education and professional services.
Together, these projects form part of a broader pipeline of State Significant Developments, representing billions of dollars in investment and long-term employment growth across the Parramatta LGA.
Retail & Mixed-Use Growth
Retail in Parramatta is evolving alongside its commercial expansion.
New developments are increasingly integrating retail, food and hospitality at street and podium levels within mixed-use towers and Build-to-Rent projects. This approach activates the public realm, supports extended trading hours and enhances amenity for workers, residents and visitors.
Proposed retail and dining precincts are designed to complement existing centres, drive foot traffic and strengthen Parramatta’s position as a lifestyle and employment destination rather than a traditional nine-to-five CBD.
Build-to-Rent & High-Density Residential
Residential growth continues to align closely with Parramatta’s commercial expansion.
A proposed 78-storey Build-to-Rent development by Conquest is set to become one of Australia’s tallest residential towers, delivering approximately 1,000 apartments alongside retail and commercial uses. The project includes a long-term affordable housing commitment, responding to sustained rental demand in the CBD.
Other large-scale projects, including Urban Property Group’s proposed $400 million development at Fitzwilliam Street, highlight the diversification of housing supply and investor interest within the Parramatta market.
These mixed-use and high-density projects support population growth, rental demand and long-term CBD activation.
Infrastructure Driving Property Value
Transport infrastructure remains a key driver of growth.
The Parramatta Integrated Station Development, incorporating Sydney Metro West, will significantly improve connectivity across Greater Sydney. The project also unlocks new commercial and retail opportunities above and around the station precinct, further strengthening Parramatta’s accessibility and appeal to businesses.
Improved transport links continue to position Parramatta as a highly connected alternative to the Sydney CBD.
Cultural & Civic Investment
Cultural infrastructure plays an important role in supporting economic and social activity.
Powerhouse Parramatta, scheduled for completion in late 2026, will become a major cultural institution, delivering public space, education facilities and year-round programming that attracts visitors beyond business hours.
At the same time, Riverside Theatres is undergoing a significant upgrade between 2025 and 2028, enhancing the performing arts offering and activating surrounding public spaces.
These projects contribute to stronger foot traffic, improved amenity and increased demand for nearby retail and commercial spaces.
Market Outlook
Parramatta’s growth is guided by long-term strategic planning under the Parramatta 2050 vision, positioning the city as a globally connected, innovation-focused and sustainable urban centre.
Key drivers include:
- Ongoing employment growth from office, education and health sectors
- Retail revitalisation through mixed-use development
- Transit-oriented development supporting density and accessibility
- Cultural and civic investment extending activity beyond standard business hours
Parramatta has firmly established itself as more than a Western Sydney hub. With landmark commercial towers, integrated retail precincts, expanding residential supply and major infrastructure investment, it offers diverse opportunities for investors, occupiers and developers.
Whether you are considering commercial leasing, retail positioning or long-term property investment, Parramatta remains one of the most compelling growth markets in New South Wales.
For tailored advice or opportunities within the Parramatta market, contact the team at Cumberland Realty.