Investa Office and Gwynvill Group (the “Owners”) have today announced that their redevelopment plans for 60 Martin Place have received Stage 2 Development Approval (“DA”) from the City of Sydney.
To facilitate this Stage 2 DA, Investa worked closely with key stakeholders on an amendment to the Sydney Local Environmental Plan and Development Control Plan. Stakeholders included the City of Sydney Council, NSW Heritage Council, Transport for New South Wales, and Sydney Airport, as well as surrounding businesses and landowners.
Demolition of the existing tower will begin in early 2016 and construction of the new tower is due for completion in 2019.
The Owners’ vision is to create a 21st century workplace for tenants, which is in line with both Council’s Sustainable Sydney 2030 vision and the objectives of the Martin Place Owner’s Group. Both aim to revitalise the role and function of Martin Place as a key financial and economic hub within the Sydney CBD, making it an attractive, activated location for employment and after-hours entertainment and dining.
In February this year, leading architectural firm, Hassell, were announced as the winner of the international design competition for their timeless design solution.
Hassell’s design, which incorporates over 40,000 square metres of lettable area over 33 levels, combines an integrated, connected ground plane design with architectural features that complement the character and materials of Martin Place.
The striking new building will include a podium rooftop area with a public restaurant and event space, with balconies facing Martin Place and Macquarie Street. It also includes a five-storey glass atrium, or ‘civic room’, which overlooks the neighbouring St Stephen’s Uniting Church.
The Owners expect demand for this new office space to be considerable. As well as boasting an enviable address in the heart of Sydney’s financial and legal district, the floor plates are flexible and generously proportioned, ranging from 1,200 – 1,600 square metres of lettable area at podium level, to 1,250 – 1,500 square metres in the tower.
Mark Tait, Head of Commercial Development, Investa Office said: “We are delighted to reach Stage 2 Development Approval, and to have successfully amended the LEP, as it means we can fulfil our aim of creating a new landmark and amenity in the centre of the CBD, that office occupants and the general public alike can access and enjoy.We believe it will bring new life to the eastern end of Martin Place, and reactivate the precinct during and beyond business hours.”
The commercial leasing campaign has commenced. To find out more visit sixtymartinplace.com.au or contact Mark Finch (Investa Office 0422 280 822) or Sarah Ballhausen (SB Property Consulting 0419 274 762).
For more detail on this development please visit http://www.sixtymartinplace.com.au/
Click here for Media Release - 60 Martin Place Stage 2 Development Approval