Have you ever thought about what life would be like without Wi-Fi? Truth is that most of us take the technology for granted, but if it wasn’t for the former head of Macquarie University’s Department of Electronics, Dr David Skellern and his partnership with CSIRO, the technology wouldn’t be in our hands today.
Macquarie Park as a suburb has always been recognised as a prime location for innovation. However, it wasn’t until 2015, where it was formally recognised as being an innovation district – Sydney’s Silicon Valley. The Macquarie Park Innovation District (MPID) was formed to facilitate and encourage collaboration between science, technology, medical and educational sectors.
The initiative involves large scale collaboration between Macquarie University, Macquarie University Hospital, Macquarie University Incubator, 180 large international and over 200 small businesses, and aims to form an ecosystem for researchers, entrepreneurs and businesses to incubate creativity and workshop solutions to unique global and community issues.
Since then, the NSW Government has identified Macquarie Park as a priority precinct area and has continued to invest in major infrastructure projects that the area will benefit from.
One of the most important and driving forces of Macquarie Park’s popularity is the development of Macquarie University, a world-renowned institution of higher education which provides Macquarie Park with a steady stream of population growth and education year to year. Being ranked in the world’s top 1% of universities, Macquarie University has seen over $1 billion invested in infrastructure since 2015 and is the only Australian university with an integrated health precinct, on-campus hospital and dedicated metro station. The university also has planned a new Arts Precinct ($111 million), Central Courtyard Precinct ($320 million) and additional $110 million in infrastructure going towards educational facilities in medicine, health and learning.
In addition to all that Macquarie Park has to offer, the suburb is home to the largest suburban shopping centre in NSW – Macquarie Centre. Macquarie Centre currently houses over 360 stores across dining and entertainment, fresh food and fashion, including a fully sized Olympic ice rink and Cinema. It also plans to spend an additional $1 billion to redevelop the entire mall, including new residential buildings, retail stores, libraries and over 5000 square metres of community space.
M_Park & Macquarie Exchange Commercial Developments
On top of improving on existing infrastructure, Macquarie Park is also developing new office precincts to facilitate future growth. The “M_Park” precinct will bring 16,000 square metres of A-grade office space to Macquarie Park and will be the home of Johnson & Johnson’s new 10,000 square metre head office.
In addition, the new $750 million Macquarie Exchange commercial precinct will create 83,370 square metres of new office space to cater to 7,000 jobs.
With all these developments within Macquarie Park focused on white collar employment, it’s evident that the suburb is escalating to become a leader in science and technology.
Convenient travel, education potential and employment opportunity make Macquarie Park one of Australia’s most intriguing suburbs. According to Transport for NSW 2019 forecast, the population of Macquarie Park will grow at an annual rate of 3% between 2019 and 2036, far exceeding the 1.6% average of Greater Sydney.
According to the latest 2020 corelogic data, compared to its Council area (the City of Ryde), Macquarie Park’s apartment 5-year capital growth rate (30.2% vs 20%) and 20-year per annum compound growth rate (6.8% vs 5.9%) are both significantly higher than the average level of the local area.
Developed by Fraser Property, Australia’s leading property developer, Fraser Property has over 95 years of development experience in over 80 cities around the world. With a history of designing and developing large-scale sites, such as DUO, Ed.Square and Central Park, Frasers Property is now set to transform an 8.2 hectare site in Macquarie Park, and are ready to release the very first building – MAC.
Located 450 metres from both Macquarie Centre Station & Macquarie University Station, Midtown, MAC, is perfectly positioned to benefit from all that Macquarie Park has to offer. 30% of Midtown’s 8.2 hectare site is dedicated to open community spaces. These spaces include a new central village green, new skatepark, pocket parks and playgrounds around the precinct as well as walking and cycling paths.
Midtown has also proposed a new primary school in the precinct along with two childcare centres, an aged care facility, new community centre, commercial gym and pool facility, retail with new cafes, and local grocer and everyday convenience stores.
For a limited time, Frasiers Property is offering up to $14,980 in rebate. Eligible buyers can save up to $69,000 by taking advantage of Australia’s First Home & Homebuilder grants.
If you would like to learn more about our offerings in Macquarie Park enquire now via the form below.