Private developer Built is looking to sell its Sub Station No. 164 project in Sydney's CBD after winning development approval.
The developer is taking two historic buildings located at 183-185 Clarence Street and redeveloping them into a premium office tower with heritage elements.
Built acquired the disused 1000sq m site last year for $22.5 million from Vietnam-based Vingroup.
The twin-tower development will offer 7,867sq m of leasable office tower as part of a project Built says will push the boundaries of heritage redevelopment in Sydney.
A seven level dome-like glass extension designed by architect Richard Francis-Jones of fjmt, will create an iconic new silhouette on Sydney’s skyline.
The project will also involve the restoration and refurbishment of seven floors in the existing heritage Shelley Warehouse and adjoining former electrical substation.
“We have taken two heritage buildings in the centre of Sydney’s Western Corridor that have sat in the too hard basket for developers in the past and worked closely with fjmt, City of Sydney and used our own experience in complex refurbishment to work around the challenges and unlock the potential of these assets,” Brett Mason managing director of Built said.
“It’s about going beyond the obvious box extension to create a sculptural art piece that will ensure these forgotten buildings have a new place and future purpose in our city skyline.”
The development will also include landscaped outdoor terrace spaces, boutique retail and quality end-of trip facilities.
The former substation’s Machine Hall will be restored and converted into an arts and creative hub.
Built has announced itself as an anchor tenant, committing to 2,800sq m which will act as a showcase space for "managing complex heritage sites".
Colliers International and Inc RE will now take the project to market seeking $180 million.
Sub Station No. 164 is targeted for completion in the first half of 2020 and the group will pre-sell the building.