Living in Castle Hill has just got even better with the proposed transformation of Castle Towers, a large-scale urban renewal program that is set to create a destination that embraces community gathering spaces which foster social and human connection.
The much-awaited redevelopment plans for Castle Towers was approved in September last year by the Joint Regional Planning Panel. Costing $900 million, early work has started on Castle Towers and the construction schedule is being finalised.
$900 Million upgrade and greater job creation
Once complete, the new Castle Towers will be as much about lifestyle, recreation, education, experiential events and dining as it will be an outstanding retail destination. The $900 million upgrade will significantly reconfigure and reinvigorate Castle Towers to better utilise the existing site to meet future needs and will expand the site by up to 80,000sqm. Car parking facilities will also be significantly improved, to increase the capacity to more than 8,000 vehicles with better entry and exit systems and a paperless ticketing system.
Castle Towers is already an important centre of the Castle Hill district where people come to shop, dine and entertain themselves. It is also a major employment centre for the region, as is the nearby Norwest Business Park.
This major redevelopment is set to create an additional 2,373 jobs with enhanced dining and retail areas as well as an updated cinema complex.
According to Castle Towers Centre Manager Martin Ollis, “We are now well under way with final detailed planning to determine construction schedules and key preparatory works continue to be undertaken.”
Sydney Metro will also benefit Castle Hill residents
It’s not just the Castle Towers redevelopment that residents of Castle Hill have to look forward to though. The new Sydney Metro will also have an underground station at Castle Hill opposite the Castle Towers Shopping Centre and will enable residents to reach Wynyard Station in 44 minutes (including interchange) from 2019, whilst from 2024, residents can access Sydney Metro’s Martin Place Station in just 35 minutes.
Currently, residents in Castle Hill have to rely on buses to reach the Sydney CBD, with long journeys of more than an hour. Both the revamped shopping centre and new metro line will put Castle Hill back on the map as a place to want to live, work and shop, especially for young, growing families as well as professionals on a good income.
Strong demand for Castle Hill in the medium to long term
In a report to the council, QIC said: “There is likely to be strong demand for both commercial office and tourist and visitor accommodation within the Castle Hill town centre over the medium to long-term”.
One of our off the plan developments in neighbouring Kellyville will hugely benefit from Castle Towers’ major redevelopment and provides even more reason to invest in new off the plan property in Kellyville, Castle Hill and The Hills District as a whole. Our Kellyville development comprises spacious one, two and three bedroom apartments and is expected to complete this year. There are still two bedroom apartments available from $650,000.
With property prices in Sydney continuing to rise, moving further out north, south and west provides better opportunities for home buyers and investors who are in search of a new property. With a soon to be completed metro train line and shopping centre, this will create strong demand for residential housing as well as commercial office buildings in the medium to long term. However, you need to get in as early as possible to take advantage of this growth before the developments are complete.
If you are thinking about buying new property in Sydney or across Australia, then it’s important to keep in mind what key amenities are close by which will have a positive impact on your property and help it rent or sell in the future. Being close to key transport such as trains as well as major retail is a major attraction for many.
Get in touch
Find out more about what the Castle Towers redevelopment means for buying new property within the region by getting in touch with the iBuyNew team today. Call us on 1300 123 463 to learn more.