Arrow Capital Partners are seeking concept approval for $173 million plans to build three office towers in St Leonards.
The eight, 12, and 18-storey buildings will replace a childcare centre, gym and pool while the existing commercial building at the 29-57 Christie Street, Street Leonards site will be increased in height.
Arrow, Pindan Capital and US investment firm Starwood purchased the 7,636sq m block for $160 million in 2018 through an off-market deal.
Arrow and Starwood are listed on the new plans designed by Fitzpatrick and Partners which will bump up the net lettable area from 17,792sq m to 57,267 square metres.
It will also create retail and café space on the ground floor as well as a public lawn, plaza, forecourt and green links by Arcadia Landscape Architecture between Nicholson Street to Christie Street.
The project will be built in two stages with the two triangular buildings on Oxley Street first, and a further application will be submitted for the existing office building.
The application was made after the St Leonards and Crows Nest Plan was finalised in August.
It takes advantage of the state government's aim to increase building heights between St Leonards Railway Station and future Crows Nest Metro Station.
The buildings, which are currently above zoning height limits, will create new business opportunities in line with the master vision for the region, the architectural design statement said.
“With tenants now looking further outside our CBDs, and the delivery of the metro network, there is an expected demand for high quality commercial space in St Leonards,” the application said.
“The proposal fulfils this with light-filled and flexible floorplates with outlooks towards the harbour and city.”
Developers are increasing their attention in the suburb just north-west of Sydney CBD.
TWT was recently gained final approval for a 16-storey mixed-use development at 23-35 Atchison Street, St Leonards.
The 102-apartment building by A+ Design Group was fast-tracked through the first tranche of shovel-ready projects by the state government in month.
It has three street frontages with dining and retail space on the ground floor as well as a public link and laneway through to an art gallery.