81-83 George St & 1 Barrack Ln Parramatta

MBM Project Lead

Autumn Lu

Client Name

Freecity

Sector

Residential

Timeline

December 2024 – Ongoing

Project Value

$Confidential

MBM Project Team

  • David Nguyen
  • Tony Chow
  • Harry Mullins
  • Lachlan Lloyd

Services Provided

Located in the heart of Parramatta’s rapidly evolving CBD, Freecity’s Build-to-Rent (BtR) development represents a transformative urban renewal initiative that blends residential living with vibrant commercial and retail activation.
MBM has been appointed to provide comprehensive cost management services across all project phases, from early design through to post-completion. This includes detailed cost planning, rigorous cost reporting, and strategic value management to ensure financial transparency, design efficiency, and commercial viability. MBM’s involvement supports informed decision-making and cost certainty, while enabling Freecity to optimise value across the development lifecycle. Our approach is tailored to the unique dynamics of BtR delivery, balancing long-term operational performance with upfront capital efficiency.

Project Background and Scope

Located in the heart of Parramatta’s CBD, Freecity are converting an existing office into a vibrant Build-to-Rent (BtR) development that mixes community alongside vibrant commercial and retail amenities.
Designed for connection, convenience and character, the new development will transform the site into a flourishing community hub, offering rental living that’s flexible, secure, and designed for long term comfort.
The project will feature a refined tower above a three-storey podium, delivering 350 Build-to-Rent apartments, comprising 283 two bedroom and 67 three-bedroom homes. Residents will enjoy 2,000m² of communal indoor amenities, complemented by 484m² of ground-floor retail to enhance the urban experience.

Project Challenges

One of the complexities of this project is managing cost certainty across a mixed-use scheme that integrates residential, retail, and communal spaces, each with distinct design, compliance, and operational requirements. MBM’s role in navigating these challenges is critical to ensuring financial transparency, design efficiency, and value optimisation throughout the development lifecycle.

MBM Solutions

MBM’s mitigation approach begins with early-stage cost planning that incorporates scenario modelling and sensitivity analysis to account for design variability and latent conditions inherent in adaptive reuse projects. Stakeholder engagement is also a priority through structured workshops and regular reporting cycles, enabling alignment on design intent, budget parameters, and procurement strategy.