The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
13
print
Print
RetailTed TabetWed 29 Apr 20

Poly Kicks Off Construction at $500m Poly Centre

e4e1940d-c48e-49b4-94f7-452109a0f535

Poly Australia has officially broken ground on its flagship commercial development, the Poly Centre at Circular Quay in Sydney.

The A-grade office tower, located at 210 George Street, was anticipated to commence construction in early 2019, but was delayed following an “intricate project journey” according to the developer.

Poly, backed by Chinese conglomerate China Poly Group, will use the 107-metre tall Grimshaw-designed tower, as its first international foray into the commercial development space.

Construction is now under way on the $500 million-plus office tower, which will consist of 19,700sq m of office space across 27-storeys and 1,000sq m of George Street-facing retail.

▲ Design of Poly Australia's 27-storey commercial workplace tower at 210-220 George Street which is expected to complete in 2022. Image: Grimshaw Architects


Poly offered up a half-stake in the project last year for between $260 million and $270 million.

It is understood that Singaporean asset manager Keppel Capital remains in pole position to secure the stake and co-invest in the development after GPT's unlisted office declined to proceed.

Poly, which launched in Australia in 2014, has built up a pipeline of more than $2 billion under the guidance of managing director Arthur Wang.

The developer has also recently purchased its second acquisition globally, a 26-storey office tower at 59 Goulburn Street for $270 million and is working on a 24-storey commercial tower at 1000 La Trobe Street at Docklands in Melbourne.

The 23-level Woods Bagot-designed tower will feature 40,000sq m of lettable area.

Poly, along with construction group Watpac, recently completed demolition works on site, leaving a large hole in the centre of Sydney's CBD for a number of weeks.

Watpac NSW state manager John Koerner said the project team was well-positioned to progress to the next stage of construction and despite the challenging economic environment onset by the coronavirus.

“As we complete all substructure works and prepare to come out of the ground we continue to implement Covid-19 safety measures, including, social distancing, hygiene and cleaning processes on site,” Koerner said.

“Our team must be commended for the diligent and collaborative approach in working with Transport for NSW and City of Sydney to enable approvals for construction works in and around the Sydney light rail.”

RetailOfficeAustraliado not useConstructionConstructionSector
AUTHOR
Ted Tabet
The Urban Developer - Journalist
More articles by this author
website iconlinkedin icon
ADVERTISEMENT
TOP STORIES
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
Residential

Home Affordability Gap Widens Across Asia-Pacific

Lindsay Saunders
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
Global ports shift up to 30 per cent of containers by rail—Brisbane moves less than 2 per cent. Here’s why that’s a prob…
LATEST
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
3 Min
Residential

Home Affordability Gap Widens Across Asia-Pacific

Lindsay Saunders
3 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/poly-george-street-tower