Parramatta Square Precinct

One of Australia’s largest urban renewal projects demanded early-stage cost certainty to support planning approval. Providing that guidance — accurately, and at scale — is exactly where MCG’s expertise delivers.

The Brief

A Development Application Cost Plan was prepared for 89–91 George Street, Parramatta, forming part of the broader Parramatta Square precinct. The total estimated construction cost of $476,970,027 required rigorous early-stage analysis to support the DA submission and underpin feasibility modelling for the project team.

The Parramatta Square precinct is one of Australia’s most significant urban renewal initiatives — a multi-tower CBD transformation that has redefined the Parramatta skyline. Being engaged at this scale, at this stage, required a deep understanding of large-format commercial construction economics.

The Challenge

DA Cost Plans are prepared before detailed design is complete — which means cost advisors must work with limited documentation while still producing figures robust enough to inform a planning submission and satisfy council requirements. For a project of this scale, any significant error in early cost estimates carries real consequences for feasibility, staging, and project viability.

The Parramatta CBD context introduced additional complexity: staging constraints, services integration with existing infrastructure, and the logistics of large-scale delivery within a rapidly evolving city centre all had to be factored into the assessment.

Our Approach

MCG prepared a detailed elemental cost estimate benchmarked against comparable large-format commercial projects and current market rates for CBD construction in greater Sydney. The analysis captured base building construction, services, structure, and façade — while separately addressing staging complexity and the integration requirements unique to a precinct-wide development.

Cost benchmarks were stress-tested against recent comparable transactions and tender outcomes to ensure the estimate would hold up to scrutiny from council, financiers, and the broader project team.

The Outcome

A credible, submission-ready DA Cost Plan establishing a total construction cost of $476,970,027 — providing the project team with the cost certainty required to advance through the Development Application process and inform ongoing feasibility decisions for one of Australia’s most prominent urban renewal precincts.