Frasers Property Australia and Dexus have lodged development plans, further progressing the project (set for completion in 2027). Source: Image supplied.
  • Project looks to set Sydney as the centrepiece of innovation
  • Frasers Property Australia and Dexus has lodged development plans, further progressing the project
  • Expected completion in 2027, with first stage to be delivered by 2025

As previously reported in The Property Tribune, survey research from the Property Council of Australia (PCA) showed Sydney’s CBD office occupancy rate saw an increase between February and January from 45% to 48%.

PCA NSW Executive Director, Jane Fitzgerald, said the NSW Government’s investments in city vibrancy activities may encourage workers to return to the CBD in a safe environment.

This $2.5 billion Central Place Sydney project is the latest commercial endeavour reflecting this sentiment, in conjunction with the State Government’s plan to revitalise Sydney’s CBD.

Set to be a centrepiece of innovation, the Central Place Sydney Project will complement the City of Sydney’s proposal to create a third new major civic square in the heart of the CBD.

Anticipated for completion in 2027, the project has made further progress, with property management company, Frasers Property Australia, and real estate investment trust company, Dexus, lodging development plans.

This development will look to cement Tech Central as a key innovation precinct to drive growth in the Asia Pacific Region and significantly contribute to large-scale urban change in Sydney.

The plans will include:

  • Approximately 130,000 square metres of office and retail space across the two flagship officer towers, which were designed by architectural firms SOM and Fender Katsalidis. The workspace will span across the 35 and 37 levels respectively;
  • Rooftop community spaces and vertical gardens;
  • Environmentally responsive building façade and structure to shade interiors from direct sunlight and reducing heat gain, supporting sustainability aspirations;
  • Improved pedestrian amenity and connectivity to Central Station;
  • A diverse range of retail and dining options, public art, and green spaces;
  • An integrated distribution facility that will service and benefit the precinct through an advanced logistics infrastructure.

The workspaces have been designed to be highly flexible, with the possibility to be combined and expanded to meet the ever-changing needs of the companies that occupy them (see this article for more on innovation in buildings).

Central Place Sydney Project Director, Kimberley Jackson, said the tech precinct will rejuvenate Central as one of the key gateways to the Sydney CBD and underpin Tech Central as Sydney’s tech and innovation hub.

“Central Place Sydney is a city-shaping development that will attract some of the best innovation and technology businesses to Sydney.

“The connectivity of the site to Australia’s busiest interchange, Central Station, and links to the neighbourhoods of Surry Hills, Chippendale, Eveleigh, Haymarket, and Darling Harbour will contribute to a vibrant destination supporting Sydney’s 24-hour economy.”

Kimberley Jackson, Project Director of Central Place Sydney

The community will have the opportunity to provide feedback through the City of Sydney public exhibition process.

Subject to securing the relevant approvals, construction is targeted to commence in 2022. The first stage of the project is targeted to be delivered in 2025.

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