28 Phillip St 5,048 SF Vacant Retail Building Parramatta, NSW 2150 For Sale

28A Phillip Street represents a rare opportunity to acquire a freestanding commercial property in Parramatta’s sought-after Eat Street precinct. Spanning approximately 469 sqm of building area across two levels, the property occupies a prominent corner position with a 12-metre frontage to Phillip Street and an additional 30-metre frontage to Phillip Lane, ensuring strong visibility and accessibility.
Set on a 371.3 sqm site with MU1 mixed-use zoning, an FSR of 10:1, and a permitted building height of 211 metres, the property offers substantial medium to long-term potential for redevelopment (STCA). The existing configuration supports diversified income streams or future single-occupancy use, with the nearby amenity profile appealing to hospitality, retail, and service operators.
Strategically located adjoining the Park Royal Hotel and within 50 metres of the Parramatta Light Rail stop, the property is in the heart of one of Australia’s fastest-growing CBDs. With significant rental reversion potential and a market income capability estimated at approximately $400,000 per annum plus GST, this offering provides investors and owner-occupiers with an opportunity to secure a high-exposure holding with strong income growth prospects and urban renewal leverage.