MEDIA RELEASE - 30 July 2026
$100 million transformation set to give new life to a vacant commercial building beside Parramatta Station.
Holdmark Property Group has partnered with Western Sydney University to deliver a major new purpose-built student accommodation facility in the heart of the Parramatta CBD.
Located at 10 Valentine Avenue, directly beside the Parramatta rail and bus interchange, the $100 million project will transform an older, vacant commercial building into modern, co-living accommodation for up to 600 Western Sydney University students.
The turnkey facility will provide students with convenient access to Western Sydney University’s Parramatta CBD campuses, public transport, shops, hospitality, employment opportunities and the broader cultural and civic life of one of Australia’s fastest-growing cities.
The development will include a range of communal facilities designed to support wellbeing, academic success and student life, including:
- Dedicated study and breakout areas;
- Gym and yoga facilities;
- Music and jam rooms;
- Rooftop recreation and sporting areas; and
- Communal kitchens and social spaces.
Kevin Nassif, Chief Operating Officer, Holdmark, said the agreement represented a significant investment in the future of Parramatta and the students who are studying, living and building their careers in Western Sydney.
“This partnership will transform a vacant commercial building into a vibrant student community in one of the best-connected locations in Western Sydney,” Mr Nassif said.
“Students will be able to step outside their accommodation and access Parramatta Station, the University’s CBD campuses and everything Parramatta city has to offer.
“Rather than demolishing an older building and starting again, we are giving an existing asset a new purpose through a major refurbishment that will deliver high-quality accommodation, outstanding student amenities and renewed activity in this important part of the Parramatta CBD.
“This project reflects Holdmark’s longstanding commitment to Western Sydney and our confidence in Parramatta’s future as a centre for education, employment, culture and innovation.”
Holdmark acquired the broader 2–10 Valentine Avenue site from Australian Unity in 2024. The existing building was completed in the late 1980s and comprises approximately 16,000 square metres of commercial space across 14 levels. It previously housed NSW Government offices but became vacant following the relocation of several government departments to newer premises in Parramatta Square.
The adaptive reuse project will retain and transform the existing commercial building, reducing the need for wholesale demolition while bringing new residents and activity to a strategically important CBD location.
Bill Parasiris, Chief Operating Officer, Western Sydney University, said the partnership will provide students with high-quality accommodation in the heart of Parramatta.
“This development will deliver modern, purpose-built accommodation within walking-distance of our Parramatta CBD campus, public transport, and the many employment, cultural and lifestyle opportunities Parramatta has to offer. Importantly, it will increase the supply of dedicated student accommodation in Parramatta, helping meet growing student demand while reducing pressure on the broader housing market,” said Mr Parasiris.
“By increasing the supply of quality, affordable student accommodation close to campus, we are supporting student success, wellbeing, retention and a more connected university experience.
“This development is about more than providing students with a place to live. Its study, recreation, wellbeing and shared spaces will create a vibrant and supportive community where students can connect, thrive and fully engage in university life.
“This project is an investment in student success and reflects Western Sydney University’s commitment to creating a connected and accessible university experience in the heart of Parramatta. By delivering high-quality accommodation close to campus, we are helping students engage more fully in university life, build a sense of belonging and achieve their academic goals. The adaptive reuse of an existing commercial building also demonstrates how existing city assets can be repurposed to deliver much-needed student infrastructure in a more sustainable way.”
The partnership comes amid substantial public and private investment in Parramatta, including Sydney Metro West, the Powerhouse Parramatta Museum, Parramatta Square and the continued growth of Western Sydney University’s CBD presence.
Holdmark’s long-term commitment to the City of Parramatta spans several major commercial, residential and hospitality projects, including:
- 85 Macquarie Street - completed 11-storey office building and QUAD retail centre
- 197 Church Street - approved for an InterContinental Hotel, offices, retail and dining
- 264 Church Street - adaptive reuse of the heritage former Westpac Bank building into a hospitality and entertainment venue
- Melrose Wharf - 2,404 homes (including 378 affordable homes), retail, riverside parks.
Mr Nassif said these investments were reinforcing Parramatta’s position as the economic and educational capital of Western Sydney.
“Government investment in transport, education and cultural infrastructure is creating enormous opportunities for Parramatta,” Mr Nassif said.
“Holdmark is committed to investing alongside government and major institutions such as Western Sydney University to deliver the housing, accommodation and amenities needed to support that growth.
“This project will breathe new life into an underused building, provide much needed purpose-built student accommodation, support Western Sydney University’s continued growth in Parramatta, and bring hundreds of students into the heart of the CBD.”
Construction and refurbishment work is expected to commence next month with the first students expected to move into the facility in Q4 2027.
Contact details:
Todd Hayward / 0412 205 151
