Parramatta boldly stakes its claim as Sydney's second CBD
Last year, the square welcomed more than 7.6 million visitors. City of Parramatta chief executive Gail Connolly says it has 'completely transformed our city's skyline'.
'Parramatta is becoming Australia's next global city, so bringing a mix of commercial tenants and job opportunities is critical as we enter this next phase of our transformation, with more city-shaping infrastructure and investment on the way.'
KPMG's original Parramatta office had 'probably 10 to 15 people' when it opened in 2015, says partner Kaylene Hubbard.
Now, there are more than 400 working for KPMG at 3 Parramatta Square. Proximity to public transport, cafes, restaurants and retail has helped attract talent.
'It's not just about pumping out a few office buildings, it's really about placemaking. When you want your younger teams collaborating in an office, it needs to be in a place where there's stuff happening. There's a great vibe down in Parramatta Square — there seems to always be something going on.'
A university city
Head to Parramatta Square and it's hard to overlook Western Sydney University, which has occupied 1 Parramatta Square since 2017 and was the first anchor tenant in the area.
'All great cities have great universities,' says Geoff Lee, a former NSW state minister and local MP, who is now a deputy vice-chancellor at Western Sydney University.
'That really changes the dynamics of a city, when you have all these young, smart people walking around.'
There are around 80,000 workers in the Parramatta CBD, Lee notes, and thousands of small businesses in the area. 'Unlike places like Liverpool, Penrith and Blacktown, Parramatta is a net importer of jobs. The investment by the state government has really had an impact.'
Other universities are also getting in on the action. UNSW hosts events in a flexible innovation hub, recently running a two-day 'EmpowerHer' workshop connecting year 12 girls from the region with female leaders in finance, economics and politics.
'Greater Western Sydney is home to nearly two-thirds of all NSW businesses, and Parramatta stands as a burgeoning hub of innovation and entrepreneurship within western Sydney,' says Cermen Leong, an associate dean who leads the UNSW business school's western Sydney strategy.
Growing pains linger
As the region continues to see an influx in investment and people, it is also experiencing growing pains. The legal system in particular is being stretched, says lawyer Stephen McAuley. He's calling for more courtrooms and judicial officers in Parramatta.
Existing legal resources in Sydney are mostly centred on the CBD, which was fine in the past when the city was geared around the coast, he says. But the lack of resources is having flow-on effects on people's lives, which are put on hold for lengthy periods while waiting for criminal or domestic violence matters to be resolved.
'With the new airport and growth of western Sydney, time has moved on … it's a pity that litigants have to come to the Sydney CBD, rather than having their cases heard in Parramatta, where it's more geographically central.'
An ongoing process of transformation
That Parramatta is now Sydney's geographic centre speaks to the growth that Greater Western Sydney has experienced. The broader region can expect to create 173,000 jobs over the next five years, according to KPMG analysis. 'It's a growing, educated population,' says KPMG's Kaylene Hubbard. 'The participation rate is strong, and has gotten stronger over time.'
There is slightly lower job creation in lower than northern parts of Greater Western Sydney, but Hubbard says that's 'not necessarily a bad story to tell. It's the next boom area – that's certainly what we're seeing in terms of client and business activity.'
As for Parramatta itself, the transformation isn't over. The local council's Parramatta 2050 vision identifies five key districts along the Parramatta River and future stations on the metro line, connecting Westmead to Sydney Olympic Park.
It has identified the Parramatta CBD as the 'headquarters district', serving as the region's business heart and a home of nightlife, arts, shopping, live music, food and festivals.
Next year's opening of the $1.4 billion Powerhouse Parramatta, the Civic Link public space and plans to redevelop the Riverside Theatre mean the city is also set for a major culture boost.
'With the new international airport soon to open, Parramatta is perfectly positioned to bring tourists, business travellers and investors directly into our thriving city,' Connolly says, 'with a booming nighttime and visitor economy, world-class dining, retail and entertainment experiences.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Age
9 hours ago
- The Age
Finance whiz buys neighbour's $21m home, smashing inner west suburb record
An over-the-fence deal between two little-known neighbours in Birchgrove has reset the inner west peninsula record at $21 million. UNSW law professor and barrister Dr Peter Cashman has sold his historic waterfront home Keba for a new peninsula high to Ty Dincer, chief executive of investment advisory firm MEC Global Partners Asia, and his partner Mel Toluk, settlement documents have revealed. While the four-bedroom, four-bathroom sandstone house fell short of the $25 to $27 million price guide given when it first hit the market last year, the home's price increased almost fourfold since Cashman's late wife, psychologist Polly Tickles, purchased it for $5.36 million in 2001. The prestige sale of the 1878-built residence also comfortably resets the previous peninsula record, which was held by the gothic estate Rothesay in nearby Balmain East, which sold for $19.76 million. Cashman, a director of not-for-profit legal fund Grata, has had a distinguished legal career, making significant contributions to law reform in the country as commissioner with the Victorian Law Reform Commission in charge of the Civil Justice Review, as well as commissioner with the Australian Law Reform Commission on class actions. The 74-year-old was also a founder of Cashman & Partners, which later merged to become Maurice Blackburn Cashman, now known as Maurice Blackburn. His purchasers, Dincer and Toluk, didn't move far at all given they owned the neighbouring four-bedroom waterfront property, which Dincer originally purchased for $7 million in 2020. They offloaded it to a local earlier this year above its last price guide of $10 million, local sources say. Turkish-born Dincer was also head of Asia Pacific Real Estate at the Abu Dhabi Investment Council, according to his LinkedIn. As for Cashman, he didn't move far either, having purchased another four-bedroom waterfront on the peninsula. But it has curiously returned to the market with a $7.35 million price guide – the same price he paid for it just eight months ago.
Sydney Morning Herald
9 hours ago
- Sydney Morning Herald
Finance whiz buys neighbour's $21m home, smashing inner west suburb record
An over-the-fence deal between two little-known neighbours in Birchgrove has reset the inner west peninsula record at $21 million. UNSW law professor and barrister Dr Peter Cashman has sold his historic waterfront home Keba for a new peninsula high to Ty Dincer, chief executive of investment advisory firm MEC Global Partners Asia, and his partner Mel Toluk, settlement documents have revealed. While the four-bedroom, four-bathroom sandstone house fell short of the $25 to $27 million price guide given when it first hit the market last year, the home's price increased almost fourfold since Cashman's late wife, psychologist Polly Tickles, purchased it for $5.36 million in 2001. The prestige sale of the 1878-built residence also comfortably resets the previous peninsula record, which was held by the gothic estate Rothesay in nearby Balmain East, which sold for $19.76 million. Cashman, a director of not-for-profit legal fund Grata, has had a distinguished legal career, making significant contributions to law reform in the country as commissioner with the Victorian Law Reform Commission in charge of the Civil Justice Review, as well as commissioner with the Australian Law Reform Commission on class actions. The 74-year-old was also a founder of Cashman & Partners, which later merged to become Maurice Blackburn Cashman, now known as Maurice Blackburn. His purchasers, Dincer and Toluk, didn't move far at all given they owned the neighbouring four-bedroom waterfront property, which Dincer originally purchased for $7 million in 2020. They offloaded it to a local earlier this year above its last price guide of $10 million, local sources say. Turkish-born Dincer was also head of Asia Pacific Real Estate at the Abu Dhabi Investment Council, according to his LinkedIn. As for Cashman, he didn't move far either, having purchased another four-bedroom waterfront on the peninsula. But it has curiously returned to the market with a $7.35 million price guide – the same price he paid for it just eight months ago.
The Advertiser
5 days ago
- The Advertiser
China wants AI in expanded trade deal with Australia
Strengthening ties between Chinese and Australian artificial intelligence researchers could be on the agenda when the prime minister visits China this week, as Beijing seeks to capitalise on trade tensions with the US. With President Donald Trump's tariffs straining relations with Australia's traditionally closest ally, China's top diplomat in Australia Xiao Qian has called for greater collaboration in fields like AI, healthcare and green energy under a revised free-trade deal between the two nations. Prime Minister Anthony Albanese's visit to China on Saturday comes as the Sino-Australian relationship continues to build following a downturn in relations under former Liberal prime minister Scott Morrison. "China and Australia are natural partners with complementary economic strengths," Mr Xiao wrote in an opinion piece published in the Australian Financial Review on Monday. "Standing at a new historical starting point, now is the time to advance bilateral relations with steady progress." Trade volumes between the two nations have bounced back after China lifted sanctions on Australian exports. The ambassador believes Mr Albanese's visit marks an opportunity to broaden the terms of the 10-year-old free-trade agreement. "We are willing to review the agreement with a more open attitude and higher standard, further consolidate co-operation in traditional areas such as agriculture and mining, and actively explore new growth areas in emerging fields like artificial intelligence, healthcare, green energy, and the digital economy, elevating practical co-operation to new heights," Mr Xiao wrote. The promotion of AI ties, amid the Albanese government's agenda to boost productivity, follows similar provisions in recently signed trade deals between Australia and partners such as Singapore, the UK and the UAE. These clauses encourage sharing AI research and commercialisation opportunities between the countries, as well as promoting its responsible use. There are attractive opportunities to deepen research collaboration in the fundamental science of AI, even though there are challenges to expanding the use of Chinese AI programs in Australia, said UNSW Professor Toby Walsh. "It's going to be very hard for us to have too deep relationships within terms of AI, because you can touch upon things like data sovereignty and various other things that we value," the AI expert told AAP. "It's not like just sending them gold and they take it, and that's the end of the partnership. "Sharing technologies like AI could pose significant national security and other risks." Allowing Chinese tech companies access to the Australian market has been a sore spot in the bilateral relationship. In 2018, then-Liberal prime minister Malcolm Turnbull banned the Chinese tech giant Huawei from developing 5G infrastructure in Australia over concerns the Chinese government could force the company to hand over Australians' data or interfere with the network. The decision prompted strenuous protests from Beijing and was a factor behind a subsequent diplomatic fallout. Prof Walsh said there were still areas where collaboration could be beneficial without forfeiting Australian security. "It's about exchanging people, it's training, it's us going to work with them and them coming to work with us," he said. "So it's things that we've always done in terms of scientific exchange, supercharging our science, supercharging their science, and then building our own business off the back of that scientific knowledge. "China will be interested in partnering with us. "We have wonderful medical data, and we have a joined-up healthcare system. "There's huge value in those national data sets we have that no one else has." As the US drives a wedge through a fragmenting global order, Mr Xiao framed China as a like-minded partner for Australia - one that shares Australia's interests in pushing back against unilateralism and protectionism. China is willing to work with Australia to strengthen multilateral organisations like the United Nations and ASEAN, safeguard regional peace and the international rules-based order, and advocate for free trade, the ambassador said. Assistant Trade Minister Matt Thistlethwaite said the government was seeking to strengthen access to China - Australia's largest trading partner - in the best interests of Australians. Strengthening ties between Chinese and Australian artificial intelligence researchers could be on the agenda when the prime minister visits China this week, as Beijing seeks to capitalise on trade tensions with the US. With President Donald Trump's tariffs straining relations with Australia's traditionally closest ally, China's top diplomat in Australia Xiao Qian has called for greater collaboration in fields like AI, healthcare and green energy under a revised free-trade deal between the two nations. Prime Minister Anthony Albanese's visit to China on Saturday comes as the Sino-Australian relationship continues to build following a downturn in relations under former Liberal prime minister Scott Morrison. "China and Australia are natural partners with complementary economic strengths," Mr Xiao wrote in an opinion piece published in the Australian Financial Review on Monday. "Standing at a new historical starting point, now is the time to advance bilateral relations with steady progress." Trade volumes between the two nations have bounced back after China lifted sanctions on Australian exports. The ambassador believes Mr Albanese's visit marks an opportunity to broaden the terms of the 10-year-old free-trade agreement. "We are willing to review the agreement with a more open attitude and higher standard, further consolidate co-operation in traditional areas such as agriculture and mining, and actively explore new growth areas in emerging fields like artificial intelligence, healthcare, green energy, and the digital economy, elevating practical co-operation to new heights," Mr Xiao wrote. The promotion of AI ties, amid the Albanese government's agenda to boost productivity, follows similar provisions in recently signed trade deals between Australia and partners such as Singapore, the UK and the UAE. These clauses encourage sharing AI research and commercialisation opportunities between the countries, as well as promoting its responsible use. There are attractive opportunities to deepen research collaboration in the fundamental science of AI, even though there are challenges to expanding the use of Chinese AI programs in Australia, said UNSW Professor Toby Walsh. "It's going to be very hard for us to have too deep relationships within terms of AI, because you can touch upon things like data sovereignty and various other things that we value," the AI expert told AAP. "It's not like just sending them gold and they take it, and that's the end of the partnership. "Sharing technologies like AI could pose significant national security and other risks." Allowing Chinese tech companies access to the Australian market has been a sore spot in the bilateral relationship. In 2018, then-Liberal prime minister Malcolm Turnbull banned the Chinese tech giant Huawei from developing 5G infrastructure in Australia over concerns the Chinese government could force the company to hand over Australians' data or interfere with the network. The decision prompted strenuous protests from Beijing and was a factor behind a subsequent diplomatic fallout. Prof Walsh said there were still areas where collaboration could be beneficial without forfeiting Australian security. "It's about exchanging people, it's training, it's us going to work with them and them coming to work with us," he said. "So it's things that we've always done in terms of scientific exchange, supercharging our science, supercharging their science, and then building our own business off the back of that scientific knowledge. "China will be interested in partnering with us. "We have wonderful medical data, and we have a joined-up healthcare system. "There's huge value in those national data sets we have that no one else has." As the US drives a wedge through a fragmenting global order, Mr Xiao framed China as a like-minded partner for Australia - one that shares Australia's interests in pushing back against unilateralism and protectionism. China is willing to work with Australia to strengthen multilateral organisations like the United Nations and ASEAN, safeguard regional peace and the international rules-based order, and advocate for free trade, the ambassador said. Assistant Trade Minister Matt Thistlethwaite said the government was seeking to strengthen access to China - Australia's largest trading partner - in the best interests of Australians. Strengthening ties between Chinese and Australian artificial intelligence researchers could be on the agenda when the prime minister visits China this week, as Beijing seeks to capitalise on trade tensions with the US. With President Donald Trump's tariffs straining relations with Australia's traditionally closest ally, China's top diplomat in Australia Xiao Qian has called for greater collaboration in fields like AI, healthcare and green energy under a revised free-trade deal between the two nations. Prime Minister Anthony Albanese's visit to China on Saturday comes as the Sino-Australian relationship continues to build following a downturn in relations under former Liberal prime minister Scott Morrison. "China and Australia are natural partners with complementary economic strengths," Mr Xiao wrote in an opinion piece published in the Australian Financial Review on Monday. "Standing at a new historical starting point, now is the time to advance bilateral relations with steady progress." Trade volumes between the two nations have bounced back after China lifted sanctions on Australian exports. The ambassador believes Mr Albanese's visit marks an opportunity to broaden the terms of the 10-year-old free-trade agreement. "We are willing to review the agreement with a more open attitude and higher standard, further consolidate co-operation in traditional areas such as agriculture and mining, and actively explore new growth areas in emerging fields like artificial intelligence, healthcare, green energy, and the digital economy, elevating practical co-operation to new heights," Mr Xiao wrote. The promotion of AI ties, amid the Albanese government's agenda to boost productivity, follows similar provisions in recently signed trade deals between Australia and partners such as Singapore, the UK and the UAE. These clauses encourage sharing AI research and commercialisation opportunities between the countries, as well as promoting its responsible use. There are attractive opportunities to deepen research collaboration in the fundamental science of AI, even though there are challenges to expanding the use of Chinese AI programs in Australia, said UNSW Professor Toby Walsh. "It's going to be very hard for us to have too deep relationships within terms of AI, because you can touch upon things like data sovereignty and various other things that we value," the AI expert told AAP. "It's not like just sending them gold and they take it, and that's the end of the partnership. "Sharing technologies like AI could pose significant national security and other risks." Allowing Chinese tech companies access to the Australian market has been a sore spot in the bilateral relationship. In 2018, then-Liberal prime minister Malcolm Turnbull banned the Chinese tech giant Huawei from developing 5G infrastructure in Australia over concerns the Chinese government could force the company to hand over Australians' data or interfere with the network. The decision prompted strenuous protests from Beijing and was a factor behind a subsequent diplomatic fallout. Prof Walsh said there were still areas where collaboration could be beneficial without forfeiting Australian security. "It's about exchanging people, it's training, it's us going to work with them and them coming to work with us," he said. "So it's things that we've always done in terms of scientific exchange, supercharging our science, supercharging their science, and then building our own business off the back of that scientific knowledge. "China will be interested in partnering with us. "We have wonderful medical data, and we have a joined-up healthcare system. "There's huge value in those national data sets we have that no one else has." As the US drives a wedge through a fragmenting global order, Mr Xiao framed China as a like-minded partner for Australia - one that shares Australia's interests in pushing back against unilateralism and protectionism. China is willing to work with Australia to strengthen multilateral organisations like the United Nations and ASEAN, safeguard regional peace and the international rules-based order, and advocate for free trade, the ambassador said. Assistant Trade Minister Matt Thistlethwaite said the government was seeking to strengthen access to China - Australia's largest trading partner - in the best interests of Australians. Strengthening ties between Chinese and Australian artificial intelligence researchers could be on the agenda when the prime minister visits China this week, as Beijing seeks to capitalise on trade tensions with the US. With President Donald Trump's tariffs straining relations with Australia's traditionally closest ally, China's top diplomat in Australia Xiao Qian has called for greater collaboration in fields like AI, healthcare and green energy under a revised free-trade deal between the two nations. Prime Minister Anthony Albanese's visit to China on Saturday comes as the Sino-Australian relationship continues to build following a downturn in relations under former Liberal prime minister Scott Morrison. "China and Australia are natural partners with complementary economic strengths," Mr Xiao wrote in an opinion piece published in the Australian Financial Review on Monday. "Standing at a new historical starting point, now is the time to advance bilateral relations with steady progress." Trade volumes between the two nations have bounced back after China lifted sanctions on Australian exports. The ambassador believes Mr Albanese's visit marks an opportunity to broaden the terms of the 10-year-old free-trade agreement. "We are willing to review the agreement with a more open attitude and higher standard, further consolidate co-operation in traditional areas such as agriculture and mining, and actively explore new growth areas in emerging fields like artificial intelligence, healthcare, green energy, and the digital economy, elevating practical co-operation to new heights," Mr Xiao wrote. The promotion of AI ties, amid the Albanese government's agenda to boost productivity, follows similar provisions in recently signed trade deals between Australia and partners such as Singapore, the UK and the UAE. These clauses encourage sharing AI research and commercialisation opportunities between the countries, as well as promoting its responsible use. There are attractive opportunities to deepen research collaboration in the fundamental science of AI, even though there are challenges to expanding the use of Chinese AI programs in Australia, said UNSW Professor Toby Walsh. "It's going to be very hard for us to have too deep relationships within terms of AI, because you can touch upon things like data sovereignty and various other things that we value," the AI expert told AAP. "It's not like just sending them gold and they take it, and that's the end of the partnership. "Sharing technologies like AI could pose significant national security and other risks." Allowing Chinese tech companies access to the Australian market has been a sore spot in the bilateral relationship. In 2018, then-Liberal prime minister Malcolm Turnbull banned the Chinese tech giant Huawei from developing 5G infrastructure in Australia over concerns the Chinese government could force the company to hand over Australians' data or interfere with the network. The decision prompted strenuous protests from Beijing and was a factor behind a subsequent diplomatic fallout. Prof Walsh said there were still areas where collaboration could be beneficial without forfeiting Australian security. "It's about exchanging people, it's training, it's us going to work with them and them coming to work with us," he said. "So it's things that we've always done in terms of scientific exchange, supercharging our science, supercharging their science, and then building our own business off the back of that scientific knowledge. "China will be interested in partnering with us. "We have wonderful medical data, and we have a joined-up healthcare system. "There's huge value in those national data sets we have that no one else has." As the US drives a wedge through a fragmenting global order, Mr Xiao framed China as a like-minded partner for Australia - one that shares Australia's interests in pushing back against unilateralism and protectionism. China is willing to work with Australia to strengthen multilateral organisations like the United Nations and ASEAN, safeguard regional peace and the international rules-based order, and advocate for free trade, the ambassador said. Assistant Trade Minister Matt Thistlethwaite said the government was seeking to strengthen access to China - Australia's largest trading partner - in the best interests of Australians.
