It was supposed to be a green oasis in one of Sydney's booming business hubs, a rare opportunity to create a 7000 square-metre park in an area undergoing major redevelopment and a population surge.

But just months after Ryde's Liberal MP Victor Dominello handed over a novelty-sized cheque promising the new park in the heart of Macquarie Park, there are concerns the plans might not go ahead.

Ryde mayor Bill Pickering receives a cheque for the Macquarie Park site from Liberal MP Victor Dominello during the election campaign. Credit:TWT on-the-spot photo

The Herald understands the state agency that manages the site, Government Property NSW, was involved in talks but never a signatory to the $6 million funding agreement for the park.

The park was earmarked for part of the 3.9-hectare site at 45-61 Waterloo Road, but the agency now plans to sell the commercially zoned lot.