Stockland marks progress on new technology precinct

Stockland is progressing with construction of the first stage of its 'M_Park' technology and life sciences precinct located at Macquarie Park innovation district in Sydney's north-west.

The property group commenced excavation this past July while Covid-19 lockdowns were still in effect. 

It said today that "the ’bottoming out’ of two of the building sites" has been completed, a key milestone in the construction of the early stage of the precinct.

Once completed, the first stage of M_Park will contain three commercial buildings with shared amenities across the site plus a data centre.

The data centre will be five storeys high and will house 6300 sqm of data halls [pdf].

The centre was approved in June 2021 following NSW government reforms to support faster delivery of data centre infrastructure in the state.

Speaking at a site inspection on Thursday, Stockland’s CEO and managing director Tarun Gupta said the M_Park project will have “an end value in excess of $2 billion with around 6000 workers” onsite.

“[It] 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 percent 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."

Planning for the second stage of M_Park is already underway and is set to offer further public spaces and buildings for potential technology-related businesses.