Sydney—Dentons has advised Penrith Council on a Project Delivery Agreement with Frasers Property Australia that will see the Union Road Carpark transformed into a new city centre, in the growing metropolitan area of Western Sydney.

The 1.94ha Union Road precinct will include six residential apartment buildings with up to 1,406 residential apartments, a council-owned public car park with up to 1,000 additional spaces, retail, child care facilities, a public plaza and landscaped communal areas.

Dentons advised Penrith Council on all facets of the deal, delivering integrated advice on real estate, construction, planning, banking, stamp duty and GST issues.

Lead partner and Australia Region CEO, Steve Healy said that Dentons was delighted to be involved in a deal that will completely transform Penrith’s CBD, helping to create an inner-city lifestyle in an increasingly important and growing metropolitan area.

“The deal negotiations ran over approximately 12 months and included a highly complex Project Delivery Agreement and strategic advice on various issues.”

“Being able to put together a Dentons team with a breadth of expertise meant that we could advise Penrith Council on all facets of the deal. It was a privilege to assist the Council on a project of this scale and vision, which will shape the city of Penrith for generations to come.”

The Dentons team was led by Sydney partner and Australia Region CEO Steve Healy and director Rebecca Mercer and included planning and environment partner Jodie Wauchope, construction partner Marcus Graham, banking partner Tim Lipscombe and corporate partner Cameron Steele.