PROPOSAL TO REDEVELOP 3 ICONIC PUBS
By Red Dwyer
PROPOSALS are in the wind to redevelop the sites of three long-established and popular Parramatta watering holes – pubs – into mixed-use precincts.
PJ Gallagher’s Irish Pub, in the city centre, and the Vauxhall Inn and the Albion Hotel, each on the outskirts of the CBD, are the properties in question.
Iris Capital’s proposal includes the demolition of\the two-storey PJ Gallagher’s pub, on the corner of Church and Andersons streets, for a 44-storey mixed-use tower on the 1821-square-metre site including 256 apartments, 150 hotel rooms and retail, hospitality and office space on the ground and first floors.
The proposal notes the Black Stump steak chain could take up a major office tenancy, as a possible location for its Asia-Pacific headquarters.
The site, zoned B5 Business Development prohibiting residential uses, has a maximum permitted height of 12 metres (3 to 4 storeys) a maximum permitted FSR of 2:1
Meanwhile, Iris Capital has bought the Mercure Parramatta, a 164-room property, close to the Rosehill Gardens Racecourse, which could be redeveloped into apartments.
The consolidation of the well-known Vauxhall Inn site and the five adjoining properties could see the development of a mixed-use project including 963 units on a prominent corner in Granville.
An information memorandum issued by the a newly established unlisted pub fund, Bondi Asset Management (BAM), in Bondi Junction, has purchased the Vauxhall Inn for $28 million, from the Eastern Hotels Group, as the seed asset in the fund
A rezoning of the two-storey property from B5 Business Development to B4 Mixed Use would be sought from Holroyd City Council to permit a greater intensity of development in height and floor space terms.
The Vauxhall Inn is a two storey heritage listed circa 1930’s hotel comprising ground level public bar, internal and external gaming room bistro and external TAB plus accommodation.
The property will be managed by Eastern Hotels Group on behalf of the BAM fund.
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