NEW developer on the block Ellerson Property has launched with a pipeline of 2150 apartments and is exploring build-to-rent housing.
Based in Parramatta the development and project marketing company was co-founded by brothers Fayad Fayad and Remon Fayad, who boasts over 40 years’ experience between them.
They have launched with three projects under their belt, the largest and most significant of these is the South Quarter project, a masterplanned 14,287 sqm precinct that will transform Parramatta’s famous Auto Alley on Church St with five residential and commercial towers, including an international branded hotel and a community park. The project is now in the final stages of construction design.
South Quarter has been approved for 750 apartments across towers ranging in height from 10 to 42 storeys, as well as nearly 40,000 sqm of retail and commercial spaces, just 450 metres from the Parramatta Rail and Bus Interchange and 260 metres from Westfield Parramatta.
At the same time, Ellerson Property has signed Tesla as the precinct’s first tenant, with the electric vehicle company expected to bring a new-age profile to the former Auto Alley.
Opposite South Quarter, the company will also develop Parramatta’s tallest residential tower at 87 Church St, where a 62-storey, 450-apartment high-rise tower is planned. Designed by Nettleton Tribe and Fox Johnston architects, the project is one of 10 projects in the NSW government’s fifth tranche of projects to be fast-tracked for assessment.
Ellerson Property’s third project is the former Cumberland Newspapers headquarters at 142 Macquarie St. the development incorporates a 60-storey, 950-apartment residential tower, plus two further towers of 35 levels and 25 levels respectively, offering 21,000sqm of commercial and retail space.
“The launch of Ellerson Property means a lot to us on a personal level, and we’re very excited to be developing some landmark projects for the people of Sydney,” Fayad Fayad said. “These projects will help establish Ellerson Property as a dynamic new brand for Australian property consumers, and speak to our ambition to become a ‘go-to’ property group, particularly in Sydney.
“We might be a new name, but we have credentialled experience on our team, while we are also seeking to recruit bright young talent into the industry, as we believe this will deliver a generation of visionaries and problem-solvers that will keep the property industry resilient,” he added.
Remon Fayad said: “When we decided to establish Ellerson Property, we were inspired by some key moments in our lives and careers – but that said, we also have an eye on the future.
“It’s clear that the Sydney property landscape has changed significantly in 2020, both from an economic and a regulatory perspective, and so we are also prepared to tackle the new challenges facing the industry in a COVID-19 world – from a design, technology and business strategy perspective.
“Over the longer term, we aim to expand our service offering to include the development of hotels and serviced apartments, as well as the delivery of development management and asset management services,” he added.
“In addition, part of our growth strategy will involve the exploration of ‘build-to-rent’ product in the coming years.” Fayad concluded.