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GPT invests $1.3bn in new retail-residential property development

Property group GPT will construct a $1.28 billion residential tower development near the new Sydney Metro Station on Rouse Hill, according to The Urban Developer.

The tower will be 25 storeys, and will include 41,000 square metres of retail space in the Northern Precinct.

The new tower will be part of the Rouse Hill Regional Centre Master Plan, which is expected to be completed in 15 years. The residential tower is one of seven new precincts planned to be built near the metro station.

The area will also see a $300 million hospital that will be finished by 2023.

“The community hub neighbourhood is an extension of the existing town centre mixed-use core,” said Cox Architects in a statement.

“The urban village neighbourhood is a prominent place-maker that signifies the Northern Precinct at North and West Gate along Windsor Road.”

GPT Funds Management 2 and GPT Rouse Hill are the landowners of the 69,700sq m Rouse Hill Town Centre Centre worth $645.2 million. The companies will also build Castle Group’s 227 apartment on Tallawong Road and Deicorp’s 350-apartment complex on Civic Way.

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