According to The Australian Financial Review, the biggest name in fast food, McDonald's, has diversified into housing, launching its first apartment project in western Sydney's Parramatta with developer Stockland.
Three years after initiating a development application with the local council to turn the residual land at its Parramatta restaurant site at 355-375 Church Street into apartments, as foreshadowed by The Australian Financial Review, McDonald's and Stockland have signed an agreement to renew the site into a mixed-use precinct.
McDonald's own the site but will co-develop it with Stockland into 350 apartments, 1565 square metres of new retail space, a car park and a new restaurant. The fast-food group will retain ownership of the restaurant stratum lot.
The new McDonald's restaurant, which will be one of the major retail businesses at the precinct, will have two levels of seating, a PlayPlace, McCafe and a dual-lane drive thru.
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