General Property Trust, the Australian stock exchange-listed property giant, has lodged plans for a 59-storey commercial tower in downtown Parramatta.

The office tower, esimated to cost $200 million to build, is the first phase of what will eventually be two towers—the second will rise 35 storeys—that will form an office precinct in Sydney’s western suburbs with an end value of about $1.6 billion.

The tower will rise 243m above a 2866sq m site at 87-91 George Street and include 53 levels of office space totalling more than 81,000 square metres. The developers intend raised ground-floor reception and retail, as well as two basement levels of parking for 56 vehicles.