Fact Sheet - Property Development

General

• The 2002 Master Plan for Sydney Olympic Park identifies 10 specific sites plus 20 other potential development sites throughout the precinct
• Eight of those are major sites in and around the Town Centre
• Expected development in the next 10 - 15 years will realise a private sector investment in excess of $1 billion
• The first stage of the new town will incorporate $470 million of residential and commercial development commencing in 2005
• Sydney Olympic Park development will generally cover commercial, residential, retail, hospitality and education

A place to work

• Development of the first three commercial sites to be undertaken by Charter Hall: AMP Henderson Global Investors comprising 42,500m² of commercial and 5,000m² retail space over three 6 storey buildings worth $150 million.
• Minimum 4.5 star SEDA rating.
• Retail, restaurants and cafes.
• Workforce of 20,000 by 2025.

A place to live

• The first residential site development by Multiplex: Babcock & Brown includes 680 apartments, 20 affordable housing units and a 40 place childcare centre valued at $320 million
• Expected residential population of 3,000 by 2012 with opportunities to expand on this population in the future
• Novotel and Ibis Hotel complex has a total of 318 rooms with another 2 hotels with 250 rooms planned

A place to learn

• Concept of establishing a "College Town". Opportunity to establish a major University campus
• World class technology based interactive learning systems being developed in conjunction with DET and CEC
• New home for an International Centre of Excellence in Sports Science & Management
• Potential for the establishment of a sports high school
• Easy student access by road, rail and water
• On-site accommodation and social infrastructure

Our neighbours

• Sydney Olympic Park is located in the geographical heart of metropolitan Sydney and enjoys a close relationship with the Western Sydney region.

Western Sydney:

• is Australia's third largest economy behind Melbourne and Sydney CBDs
• has 72,000 businesses generating $54 billion annual economic output
• has one in five Australian jobs
• has a population of 1.8 million.

The continuing growth and development of the Sydney Olympic Park has acted as a magnet to the surrounding areas. The easy access to facilities and proven infrastructure at the Park has resulted in strong development immediately surrounding the Park area:

• Rhodes (43-hectare site, 6,000 residents, 4,200 workers)
• Australand (4,000 workers)
• Liberty Grove (1,700 residents)
• Newington (6,400 residents, 700 workers)
• Broadoak Waters (19.6-hectare site, 1,250 residents)
• Homebush Bay West (12,000 residents, 180 workers).