Barana Group has lodged stage two plans for an $88 million split apartment tower along historic Kent Street in the Sydney CBD.
The real estate investment group owned by Greg Shand will demolish the existing building between the Stamford on Kent and Maritime Trade Towers to build a 24-storey mixed-use building with two partially connected towers.
The 125 apartment building will sit on a sloped site and measure 81.75 metres at the front on 189-197 Kent Street, Sydney and 93.65 metres at the back on Jenkins Street above a historically significant masonry podium along the Grafton Bond Store.
Approval on the Kent Street site was first given in 2015 for an 80 metre mixed-use residential building which was set to lapse in September 2020.
In anticipation of this, Barana lodged another application with the same building envelope on the 1,195sq m site which gained concept approval in 2019.
Sydney architecture firm FJMT won the competitive design process which includes a retail ground floor as well as a pedestrian through-site link to a common space known as Grafton Lane.
“A configuration of two slender towers, rather than one footprint, offers an improved visual connection with the sky and better daylight access,” the development application said.
“The separated towers provides a finer grain in the skyline, enhancing public and private views in and around the towers and providing greater visual interest, especially when compared to a singular large footprint tower.”
The Sydney-based real estate investment group gained a freehold interest in the site in December 2002, flagging plans for a “either a commercial building or residential apartments” on the site.
Barana Group obtained approval in 2006 to convert the existing building for residential and commercial purposes with 145 apartments which eventually lapsed.
The ADG House was first opened in 1967 beside the Stamford Plaza which was then called Caltex House.
When Caltex House was built in 1957 by Lendlease, it was the tallest building in the country at 72 meters or 20 stores and had the largest privately-owned carpark, which was sold and gutted to become a hotel in 1996.
On the other side of the ADG House is the Maritime Trade Towers, which were built in 1988 and measure at 128 and 95 metres respectively.