Western Sydney’s hottest place to cool down opens
It’s been a long wait, but doors finally open today
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Parramatta has a cool new destination for beating the heat, just in time for summer.
Today marks the opening of the Parramatta Aquatic Centre, a multi-million dollar facility designed to service the diverse communities of Western Sydney. Jointly crafted by award-winning architectural firms Grimshaw, Andrew Burges Architects and landscape architects McGregor Coxall, the facility includes a 10-lane 50m outdoor pool, a 25m indoor pool and a Learn to Swim pool as well as an indoor water playground, a fully-equipped gym in the health and wellness centre, community rooms and steam, spa and sauna facilities.
The $88.6 million centre is situated in Parramatta Park at Mays Hill and has been designed to ‘minimally disrupt’ the park, which is inscribed on the UNESCO World Heritage List. With the outdoor pool as the centrepiece, the aquatic centre has been largely worked into the topography of the park, maintaining community access to the site as well as protecting views across the park to Old Government House.
In addition to the public-facing facilities, the centre has 360 solar panels powering a 193kW system and an automated natural ventilation system instead of air conditioning.
Parramatta has been without an aquatic centre since 2017 when the Parramatta Memorial Pool was bulldozed to make way for the Western Sydney Stadium. The outdoor pool has been named the Memorial Pool in honour of the former pool.
Architect Andrew Burges said the aquatic centre had been designed with the future in mind.
“Our goal was to provide a completely new vision of what an Aquatic Centre could be – we wanted to create a destination for the community, one that provides opportunity for many forms of recreation in a safe and inspiring facility that feels more like a landscape setting than a building,” he said.
Project director for Grimshaw, Josh Henderson, said the centre was a culmination of years of planning and collaboration that would serve the needs of the community for years to come.
“The new Parramatta Aquatic Centre will provide a much-needed destination for swimming, fitness, and leisure in Western Sydney,” he said.
“The design team, City of Parramatta and builder have all collaborated to create a valuable community asset that is enjoyable to experience, well made, highly functional and accessible. As a new home to many community groups, the opening of the facility will provide vibrant landscaped public spaces for fitness, sport, learn to swim classes and for time with friends and family.”
The new aquatic centre is projected to attract one million visitors a year.
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Strong consumer spending and tight supply have driven retail to the top of commercial property, but signs of pressure are starting to emerge.
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Australia’s retail property sector entered 2026 as the strongest performing commercial asset class, but rising geopolitical risks and cost pressures are beginning to test its resilience, according to new research from Knight Frank.
The latest Australian Retail Review shows the sector rode a wave of consumer spending and constrained supply through 2025, delivering total returns of 9.2 per cent and driving transaction volumes up 43 per cent year-on-year to $14.4 billion.
That momentum carried into early 2026, with around $3.6 billion in deals recorded in the first quarter alone.
“Retail clearly emerged as the standout commercial property performer in 2025,” said Knight Frank Senior Economist, Research & Consulting Alistair Read.
“Improving household spending, limited new supply and stronger leasing fundamentals combined to drive better income growth and renewed investor confidence in the sector.”
Spending rebound drives retail strength
A lift in household spending has been central to the sector’s performance. Consumer spending rose 4.6 per cent year-on-year to February 2026, supported by easing inflation and improving real incomes.
That shift flowed directly into retailer performance, with average EBIT margins across major retailers rising to 8.9 per cent in the first half of 2026, their strongest level in several years.
“Stronger consumer spending was critical in restoring momentum to the retail sector,” Mr Read said.
“Retailers have generally been better able to absorb costs, rebuild margins and support sustainable rental outcomes, particularly in higher-quality centres.”
Improved trading conditions also pushed leasing spreads up 4.2 per cent in 2025, reinforcing income growth and supporting capital values.
Geopolitical tensions begin to bite
But the outlook has become more complicated. The report warns that escalating conflict in the Middle East and its impact on fuel prices, supply chains and interest rates could weigh heavily on consumer spending.
“Higher fuel prices, flow-on cost pressures across supply chains, and recent interest rate increases are collectively squeezing household budgets, and early consumer sentiment data suggests confidence is already softening,” Mr Read said.
“While household balance sheets remain generally resilient, heightened uncertainty over future costs is likely to weigh on spending — particularly in discretionary categories — in the months ahead.”
The impact is already being felt in investment activity. While the year began strongly, transaction volumes slowed in March as investors paused amid the uncertainty.
“Early indicators suggest elevated uncertainty has already begun to affect the market. While retail investment enjoyed its strongest start to a year in a decade, with nearly $3 billion transacted by the end of February, activity stalled in March, as investors took a pause amid elevated uncertainty,” Mr Read said.
Solid foundations support medium-term outlook
Despite the near-term headwinds, Knight Frank maintains that the sector’s underlying fundamentals remain strong. Limited new supply, high construction costs and population growth are expected to continue supporting rental growth over the medium term.
“Retail has entered this period of uncertainty from a position of strength,” Mr Read said.
“Supply-side constraints, population growth and improving income fundamentals remain powerful structural supports for the sector.”
The report highlights several trends shaping the year ahead, including steady yields as interest rates rise, mounting pressure on tenant margins, continued outperformance of prime centres, the growing need for logistics integration, and risks linked to underinvestment in capital expenditure.
For now, retail remains a sector with momentum, but one increasingly at the mercy of forces far beyond the shopping centre.
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