Conquest Plots 78-Storey Parramatta BtR Skyscraper

Conquest has announced plans to build one of Australia’s tallest towers in Parramatta—a 78-storey residential development that would deliver 1000 apartments and test build-to-rent viability at scale in Sydney’s evolving second CBD. The proposed 250m-high tower at 87 Church Street and 6 Great Western Highway would comprise about 1000 build-to-rent apartments in a mix of studio, one, two and three-bedroom configurations designed for conventional households and key workers. A four-to-five-level podium would comprise commercial and retail space, while resident amenities would include pools, gymnasium, sauna, co-working facilities and cinema. The estimated end value of the completed tower is $1.5 billion. The Gold Coast’s Q1, completed in 2005, is Australia’s tallest tower at 323 metres. Conquest chief executive Michael Akkawi said the project would be a significant milestone for the firm. “This is a landmark project,” he said. “Now that the planning departments have allowed us to go up, we’re looking to build one of the tallest towers in the country and create a landmark piece.” The proposal is moving through the State Significant Development Application process as a declared project by the NSW planning minister. Conquest holds an option on the amalgamated site and has submitted a scoping report seeking the Secretary’s Environmental Assessment Requirements. Delivering the project would require substantial amendments to existing planning controls. The application seeks to increase the floor space ratio from 10:1 to 23:1 and raise the height limit from 180m to 250 metres. Ten per cent of the residential gross floor area would be dedicated to affordable housing for 15 years, managed by a community housing provider. Akkawi said flexibility on multiple planning elements proved essential to project viability. “Beyond height and FSR, flexibility on parking, podium configuration and a streamlined build-to-rent pathway were essential to make the economics work,” he told The Urban Developer . Akkawi said Conquest’s vertically integrated model—controlling development from construction through to operations—would help the developer manage costs and deliver such a complex project. “We’re really a long-term player in the build-to-rent sector, and we believe in Sydney and the strength of the build-to-rent market as the population increases and migration continues,” he said. The project would launch under ARTE, Conquest’s dedicated brand for its residential portfolio. ▲ Conquest is launching a design excellence competition targeting 1000 apartments with hotel-grade amenity under its new ARTE brand for the project. “The term build-to-rent feels purely functional—it describes a financial structure, not a human experience,” Akkawi said. “With ARTE, we are moving beyond that. It isn’t traditional build-to-rent—it’s a hospitality-led, multi-living platform. “We combine long-stay, medium-stay and flexible living under one brand with hotel-level service, curated community programs and a design standard well above the typical rental market.” He said integrated services would include wellness facilities, concierge, a resident tech platform and hotel-level maintenance responsiveness. “We’ll have weekly activations, curated events, partnerships with local operators, learning and wellbeing programs,” Akkawi said. “Residents have flexibility of tenure—short, medium and long-stay options within the same building, allowing them to move through life stages without moving out. “Our design standard for interiors, amenity spaces and service touchpoints is benchmarked to boutique-hotel quality.” Conquest plans to conduct a design competition, engaging local and international architects to ensure the building achieves design excellence. “This must be a landmark tower—sculptural form, premium materials, activated ground plane and world-class resident amenity are non-negotiable,” Akkawi said. Akkawi said there would be significant delivery challenges in the current economic climate, with construction costs a primary hurdle, alongside government levies. “The Housing Productivity Contribution is a significant cost impost on large-scale housing, running into the millions,” Akkawi said. “It does affect feasibilities and reinforces the need for planning incentives to balance it.” He said delays and fees imposed by authorities including Sydney Water and Ausgrid compounded these pressures and that comprehensive reform was needed to unlock supply. ▲ Conquest chief executive Michael Akkawi: Parramatta will be the build-to-rent capital of Sydney if not Australia. “Reform of GST treatment—housing is taxed more than tobacco, we should not be paying GST on the sale of housing—early lease-up land tax relief, clearer depreciation settings and faster approvals would immediately unlock more large-scale rental housing across Sydney,” he said. Regardless of the headwinds, Conquest plans to push on with the Parramatta proposal. “We’re confident in absorption,” he said. “Parramatta is NSW’s second CBD with a chronic undersupply of quality rental housing. Vacancy remains low and premium, professionally managed rental continues to lease faster than the broader market.” He said Parramatta would be “the build-to-rent capital of Sydney if not Australia”. The plans are progressing alongside a $5-billion-plus development pipeline across domestic and international markets. The group recently expanded its Eastlakes Shopping Centre redevelopment from 800 to 1000 apartments for an estimated development cost of $650 million. Conquest has also filed plans for a $900-million mixed-use development on the site of the former Cyprus Club at Stanmore, proposing 500 apartments alongside retail and wellness facilities. The company’s Castlecrag development has also expanded—from the original 38-unit approval to a revised 150-unit tower valued at $250 million .

Conquest Plots 78-Storey Parramatta BtR Skyscraper

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