Shire-based family company Savelle is to build Sydney’s largest off-airport car park to be built within walking distance of the domestic airport.
To be built on a 10,500 square-metre site in 338 Kings Street Mascot, the project will have a construction cost of $80 million.
When completed it will have 1622 car spaces and an adjoining 132 serviced apartments with a total value of $184 million.
Savelle has signed a construction agreement with building company Taylors to build stage one of the proposed development.
Costing $20 million, Stage 1 will have 800 car spaces over five levels.
Stage 2 will be an additional 822 car spaces over another five levels, totalling 10 levels.
There will be 132 adjoining serviced apartments over 12 levels.
The ground works are to commence early august with the car park gates to open by the May, 2017.
Savelle director Steve Savelle said the project will be Sydney’s largest off-site car park and the serviced apartments will be Sydney’s first serviced apartments that owners can buy and self-manage.
“In the first month of opening the sales we sold 36 apartments totalling $30 million in sales,” he said.
Mr Savelle said the serviced apartments component will have an estimated sales cost of $92 million.
“Parking rates have not been finalized however we have been advised they will be most competitive,’’ he said.
“Car park features will include, all spaces under cover, all side by side parking, valet parking option, carwash, free return transfers to the airports.
“We are targeting people who live more than 40 minutes from the airport and who will find it cheaper to drive and park with us rather than getting a taxi,’’ Mr Savelle said.
“We will have a shuttle on demand. When you land you can call and we will come and pick you up and drive you to the car park.
“There will be licence recognition software so the boomgate cameras will read your licence plates and let you you in.’’
Savelle started in Sutherland Shire and has built apartment blocks, industrial parks and office blocks.
The serviced apartments are now selling. http://kingapartments.com.au/.
The car park will trade as Park on King. More details go to www.parkonking.com.au.
