Transformation of Parramatta to include new speciality-select hotel.
Colliers International welcomes the debut of Four Points by Sheraton in Parramatta, with a new 271 room, speciality-select hotel on George Street in the heart of Parramatta’s CBD. Four Points by Sheraton Parramatta will also feature a bar and lobby lounge with snack kiosk, a restaurant, parking facilities, an indoor swimming pool and fitness centre.
Located at the northern end of Parramatta within the corporate office precinct, Four Points by Sheraton Parramatta will enjoy good proximity to Parramatta Station, Church Street Mall and Westfield Parramatta.
“This marks the first time that Starwood Hotels & Resorts has entered a suburban market in Sydney, which signals the strength of the Parramatta market and the future upside associated with it,” said Raymond Tran of Colliers International.
“The development of the Parramatta Civic precinct, coupled with the new light rail network which will effectively extend the boundary of the Parramatta CBD, will help Parramatta reclaim its position as Sydney’s second largest CBD, after the Macquarie Park technology hub eclipsed that title based on A-Grade office supply in Sydney.”
JL Parramatta, a private Chinese development group who acquired the property in October 2015, selected Starwood as its preferred operating partner due to its international pedigree.
“JL Parramatta is pleased to be working closely with Starwood to launch Four Points by Sheraton Parramatta. Starwood’s depth of experience and standing within the industry as an exceptional hotel and resort operator gave us great confidence in this partnership, and we are excited to move forward with this project," said Jian Zhao, Owner, JL Parramatta.
“Parramatta has become a focal point of economic growth in Sydney, with significant investment in a range of building and construction opportunities and hotel occupancy levels reaching a new high. There is clear demand for a new high quality international hotel with accommodation and facilities to support the growth of Western Sydney, and Four Points by Sheraton Parramatta will deliver this with its approachable design and stylish comfort brand positioning.” said Andrew Taylor, Director of Acquisitions & Development, Starwood Hotels & Resorts, Pacific.
This latest announcement follows a busy period for Starwood following the announcement of Four Points by Sheraton Sydney, Central Park and The Westin Coolum Resort & Spa.