QIC Reveals $560m Next Phase for Castle Towers

A 200-key hotel designed by Woods Bagot is among plans for a “transformative” masterplan filed for Castle Hill in Sydney’s north-west.

Under the plans lodged with the Hills Shire council by QIC, the mixed-use precinct, dubbed The Village, will also include a retail component across three levels with dedicated precincts for apparel, beauty, healthy living and home décor.

The developer said it was investing $568 million in the masterplan, the next phase of its Castle Towers Shopping Centre precinct, 34km north-west of the Sydney CBD.

The hotel will include premium event facilities and several “upscale” hospitality venues.

QIC’s multi-phase plan for the site includes a 12-storey A-grade commercial building, the first of its type to be built in the area, according to the developer.

Designed by BVN, the office tower, dubbed 2 Castle Street, will be “underpinned by market-leading sustainability credentials”.

Under the proposal, The Village will also comprise a live entertainment venue, rooftop garden and other greenery-filled public spaces.

“The evolution of Castle Towers into a vibrant, multi-faceted urban hub is an example of how we’re bringing QIC’s town centre vision to life,” QIC Investment general manager Matthew James said.

The developer said the hotel and office building were forecast to draw more than 2000 workers daily, with another 200-plus jobs created during the construction phase.

QIC is the Queensland government’s investment company, founded in 1991 to serve the long-term investment responsibilities of the government.

Developer of precincts associated with Brisbane’s cross river rail project, QIC last month revealed plans for a $750-million 40-storey office tower in the new Albert Street Cross River Rail precinct. 

Late last year QIC lodged plans for the first action sports centre by US giant Woodward outside North America, also in Castle Towers.

Castle Towers first opened in 1982 and a $180-million expansion opened in December, 2019,  which has been followed by further redevelopment and expansion.