Construction of the $450 million first stage of M_Park has ‘bottomed out’ at two of the building sites, in the Macquarie Park Innovation District (MPID), Sydney.
Works started during the COVID-19 lockdown in July 2021 and will provide 500 direct and 700 indirect jobs over the next three years.
Stockland’s CEO and Managing Director, Tarun Gupta, and Digital and Customer Service Minister Victor Dominello were on site to inspect the construction milestone.
“It’s exciting to see the progress made on our M_Park project, which will have an end value in excess of $2 billion with around 6,000 workers, and represents an unprecedented opportunity to support the NSW Government’s plan to drive investment in the Health, Education and Technology sectors and accommodate the future of Australia’s medical technology (med-tech) industry,” Gupta said.
“With completion expected by 2024, 60 per cent of our first stage is pre-committed with high quality tenants, including a purpose-built data centre for a multinational operator, a WiSE multidisciplinary medical and emergency centre, and the consolidated Australian headquarters for Johnson & Johnson.
Related stories:
- Stockland starts construction $2B logistics precinct
- Stockland acquires 131 hectares of land in Melbourne’s south east
- Sod turned on Calleya construction
“The scale of M_Park, spanning seven hectares when combined with the second stage, will attract diverse technology and life science businesses which can reap the benefits of co-location in a leading NSW innovation precinct.”
Dominello welcomes the investment into the local community.
“Macquarie Park is the technology capital of Australia and this project will further harness the area as an epicentre for digital jobs and investment,” Dominello said.
Johnson & Johnson Medical Managing Director, Sue Martin, said they are excited to be moving to a state of-the-art facility.
“It’s important that our teams have access to cutting edge technology in an office environment that promotes collaboration and innovation and we are pleased to partner with leading developers Stockland to help us deliver that,” Martin said.
Once complete, M_Park’s first stage will provide around 2500 square metres of open space for the health and wellbeing of the community and workers. It will offer a range of activities, including public art activations, food and beverage retailers that will operate on extended hours to provide variety and a refresh to the Macquarie Park area.
The second stage of M_Park is currently in planning and will be a valuable contribution to the precinct with open space and buildings to potentially accommodate a range of uses including workplace, medical, life sciences (biotech), education and related technology.