Sydney is set to add a spate of new development projects to its iconic skyline over the coming years, boosted by a now-$55 billion infrastructure and transport pipeline.
The city’s recovering office market, tightly-held residential market and new transport infrastructure have remained major draw cards for Sydney developers and REIT’s attempting to tap into the high-rise development boom.
The NSW government has also devoted most of its capital spending towards improved transport to address a number of inefficiencies and growing pains with the state’s population which, prior to the health crisis, was on track to reach more than 9 million by 2027.
The affluent city, which recently saw median house prices lift back above $1m after a sharp downturn, is currently the 29th biggest economy in the world, with its GDP at $461bn after growing by 2.6 per cent—accounting for a third of national growth.
From the city-shaping metro, to new urban centres circling the under-construction second airport and high-rise commercial, hotel and residential offerings, the city is primed for new development projects and growth.
Listed property giants Dexus and Frasers Property Australia have partnered to deliver a $2.5bn twin-tower commercial precinct to be located at Sydney’s so-called “Silicon Valley”, Tech Central, which will span 24 hectares at the southern end of the CBD.
The commercial proposal, to be located in the western most park of the government-backed technology precinct next to Central Station, will feature two office towers of up to 39 levels, will comprise 150,000sq m of work space.
The tech-focused towers will be powered by 100 per cent renewable energy and include a range of healthy building initiatives including touchless entry points and a closed cavity facade system powered by artificial intelligence and solar glass.
• Designed by Fender Katsalidis and SOM
• Expected to support 10,000 office jobs when complete
Tech giant Atlassian will build a $1bn-plus concrete-and-timber tower next to Sydney’s Central Station, as the flagship project in a NSW government-backed technology precinct Tech Central.
Topping out at 180 metres, Atlassian’s new timber headquarters will have a glass and steel facade with solar panels incorporated into the sides, along with a mix of indoor and planted terraces with natural ventilation.
Atlassian is set to partner up with listed real estate player Dexus to deliver the project, with the country’s largest office landlord poised to take a 50-plus per cent stake in the building once construction is completed.
• Designed by SHoP and BVN
• Set to become the tallest timber structure in Australia
ASX-listed developer Mirvac is pressing ahead with plans for a $1bn-plus premium office tower at 55 Pitt Street in the Sydney CBD.
The Circular Quay tower, originally billed to provide up to 45,000sq m of commercial space, will now grow considerably to deliver approximately 60,000sq m of commercial and retail space.
The proposed development, which could reach up 232 metres in height, is currently in a detailed development application phase in close consultation with the City of Sydney Council.
• Designed by Shop and Woods Bagot
• The tower will span three addresses
• It will replace a 9-storey office building
Stockland has lodged plans for a $500m North Sydney office tower as it banks on a post-pandemic return of workers to Sydney’s second CBD.
Known as 110 Walker Street, the development application consists of 75,000sq m of net lettable area on a 2,300sq m site which was previously amalgamated by the diversified property group.
The 55-storey office tower will dwarf Lendlease’s recently approved 42-storey Victoria Cross integrated station development, and on completion will stand as North Sydney’s tallest.
• Designed by Hassell
• Will feature a publicly accessible rooftop garden
• Targeting a 6-Star Green Star, 5-Star NABERS Energy rating
ASX-listed Mirvac and joint venture partner John Holland have plans in front of local council for an over-station development project in Sydney’s inner south.
The $900m mixed-use precinct, delivered in collaboration with the NSW government, comprises a 35,000sq m, 17-storey office building, 24-storey apartment building and a 25-storey student accommodation building set to be operated by Iglu.
The project sits within the Waterloo State Significant Precinct, a 20-hectare area in central Sydney that has been identified for urban renewal.
• 5 per cent of the units in the towers will be affordable housing
• Will feature a 2000sq m childcare and health services centre
• If approved the project will be completed by 2024
Fund manager Investa, with joint venture partner Oxford Properties Group, has plans for a $500m commercial tower in North Sydney.
The development is slated for a 6,650sq m site, running between 105 to 151 Miller Street, currently occupied by the 63-year-old MLC Building.
The 27-storey development will add 74,000sq m of net lettable area to the fast-growing North Sydney office market.
• Designed by Bates Smart
• Investa opted for demolition and redevelopment in July 2017
• Floorplates will range between 1,300sq m to 5,000sq m
• The project will also revitalise and extending public space
Lendlease will moved forward with a $1.2bn commercial tower set to rise more than 42-storeys above the future Victoria Cross metro station in North Sydney after securing approval in July as part of the NSW government’s acceleration program.
Lendlease won the $476m rights to develop the station and the 40-storey office tower above it in 2018, knocking out bids from rivals Dexus and Charter Hall in the process.
The over-station tower will include about 58,000sq m of office and retail space. It is one of several lucrative metro station developments planned across Sydney.
• The building will accommodate up to 7,000 office workers
• The project will sit within Lendlease APPF Commercial fund
Twin 80-storey skyscrapers comprising 592 apartments and a hotel will transform Sydney CBD’s skyline after getting the nod from the Sydney Planning Committee.
The privately-controlled Han's Group is behind the $727m project which spans eight sites in Sydney city, bound by Liverpool, Castlereagh and Pitt streets.
The state significant development application involves the demolition and construction of the two 80-storey towers containing 592 apartments, 158 hotel rooms, retail tenancies and five levels of basement car parking.
• Designed by FJMT
• The hotel tower will comprise 158 guest rooms
Development giant Mulpha is pressing forward with a $1bn Western Sydney residential masterplan featuring nine high-rise towers, ranging from eight to 26-storeys.
The Malaysian-backed developer secured fast-tracked approval by the NSW government for the development which will act as the first stage of a broader $3bn transformation of one of Sydney’s largest business parks in Norwest.
The project will deliver a total of 864 residential apartments, located at 40 Solent Circuit, with Mulpha planning for 200 apartments initially.
It will also include more than 6,000sq m of commercial space, cafes, restaurants, a gym, medical services and childcare centres.
• Currently houses 6,000 residents and 800 businesses
By 2024, Sydney will have 31 metro stations along 66 kilometres of standalone tracks stretching from Rouse Hill in the north west, through Chatswood, under Sydney Harbour, through the city centre and on to Bankstown in the south west and Westmead in the west.
The rail network will increase the number of services across Sydney to up to 200 an hour in the busy morning peak, compared to 120 currently.
The CBD and south-west extension will cost up to $12bn, and a further extension into the western suburbs will cost another another $10bn, according to the pipeline.
• Will transport 40,000 people per hour
• The new trains are driverless
• 18 stations currently under construction
• The first metro trains began operation in May 2019
The $5.3bn Western Sydney Airport at Badgerys Creek, is underway with development giant Lendlease currently undertaking the major earthworks.
The 65,000sq m airport, to be known as the Nancy-Bird Walton Airport, designed by Zaha Hadid Architects and Cox Architecture, is expected to start construction in 2022 with global firm Aurecon enlisted to provide engineering design services.
The new airport, which will have a combined international and domestic terminal, is being developed in four stages with the aim of handling 10m passengers a year when it opens in December 2026, rising to 82m passengers by 2060.
• The project was given the go-ahead in 2016
• The project site, 50km west of the CBD, is 1,780 hectares
• 22m cubic metres of earth shifted for the 3,700m runway
• When complete the airport will create 28,000 new jobs
ASX-listed casino giant Crown Resorts and developer Lendlease have been rapidly transforming the north-western edge of the Sydney CBD, previously known as Darling Harbour East.
ASX-listed casino operator Crown Resorts’ $2.4bn casino, hotel and apartment tower, One Barangaroo, is quickly taking shape, due for completion in 2021.
Crown’s 72-storey development, comprising 82 apartments and a 349-room, six-star hotel, was given final approval by the NSW Planning Assessment Commission in 2016.
• The precinct will be home to 3,500 residents when complete
• One Barangaroo was designed by WilkinsonEyre
• Crown Group has made $650m worth of pre-sales
In its own neighbouring project, Lendlease is also pushing ahead with its own luxury units.
All three towers in the $4bn One Sydney Harbour residential project have been designed by Pritzker Prize-winning architect Renzo Piano.
All three buildings, a 30-storey building comprising 210 apartments, a 72-storey residential building comprising 327 apartments and a 60-storey building comprising 297 apartments, are slated for completion in 2023.
• The precinct will be home to 3,500 residents when complete
• 85 per cent of the apartments Residences One have been sold
• The average price in Residences One is around $6.6m
The Green Square suburb is the $13bn urban renewal project between Landcom and the City of Sydney, with Mirvac as a key developer.
Green Square, publicised as one of Sydney’s largest urban regeneration projects, spans the suburbs of Alexandria, Zetland, Waterloo, Rosebery and Beaconsfield.
Landcom, the major landowner within Green Square, has held a project agreement with Mirvac since it made its first moves to develop 5.1 hectares of land in 2012.
Mirvac has spearheaded work on the town centre during the past eight years, while Landcom has spent more than 20 years planning, acquiring and amalgamating land and remediating the site.
• Built on 278 hectares of cleared industrialised land
• Upwards of 30,000 new homes are planned for Green Square
Coombes Property Group and joint venture partner Mirvac have approval for a 500-plus apartment skyscraper in Sydney’s CBD after submitting a stage two application to the City of Sydney late last year.
Sitting atop the Event cinemas between 505 and 523 George Street, the $1bn super-slim skyscraper will be Sydney’s tallest residential tower.
The 4,308sq m site was acquired by Coombes Property Group in 2009 from Challenger Financial Services for $85 million.
Mirvac will head up development of the skyscraper, which will cost roughly $700m, while Coombes will retain ownership of the tower.
Construction on the tower is expected to take approximately five years to complete with a commencement date unannounced.
• Designed by Ingenhoven and Architectus
• 80-storey, 270-metres tall
• 51,862sq m of residential development
• 13,441sq m of commercial and retail space
• The project is expected to take about five years to construct
The 11,200-hectare Aerotropolis site, to be located on the southern edge of the new Western Sydney Airport, will include an industrial zone of commercial, agricultural industrial and residential development.
The mega precinct will be divided into 10 precincts, with three initial precincts—the Aerotropolis Core, Northern Gateway and South Creek—identified by the government as offering the greatest growth potential.
The first planned precinct, the 1,055-hectare Aerotropolis Core, is set to deliver 60,000 jobs and 8,000 homes when fully-developed, while the 1,120-hectare Northern Gateway will deliver 22,500-plus jobs and 3,400 homes.
The project’s second precinct, the 850-hectare Mamre Road industrial park, had $2.6bn worth of rezoning recently approved as part of the NSW government’s acceleration program.
• Federal, state and local governments will invest $20bn
• Aerotropolis to create 200,000 new jobs
• Anchor tenants include Mitsubishi Heavy Industries, University of Newcastle, University of NSW and University of Wollongong, and Western Sydney University
The new Powerhouse Museum will be the largest museum in NSW and will have a 30-metre wide domed planetarium complete with ultra-high resolution 3D video and audio.
The project, the largest investment in arts and culture in the state since the Sydney Opera House, will also have 18,000sq m of exhibition and public spaces, compared to 15,708sq m in Ultimo.
• Designed by Moreau Kusunoki and Genton
• Two heritage buildings demolished ahead of construction
• The project will include 60 creative residential studios
The three hectare city style precinct will transform the heart of Parramatta’s CBD into a vibrant, cosmopolitan, commercial and residential precinct.
The mixed-use project spans five towers across a whole city block and sits in close proximity to Parramatta Square, Parramatta Transport Interchange and Westfield Parramatta shopping centre.
The masterplan is expected to accommodate a surging locality consisting of 23,500 workers, and will see Parramatta City rival Sydney’s CBD, with a total of $8bn to be invested city-wide in buildings and infrastructure over the coming years.
• Offers 290,000sq m of A-Grade office and retail space
• Total project is now 75 per cent pre-leased
• The NSW Government has agreed to a 65,000sq m lease
• Total occupants of 23,500
A premier commercial tower, being developed at 50 Bridge Street, is currently being delivered by the AMP Capital Diversified Property Fund, AMP Capital Wholesale Office Fund.
Quay Quarter Tower will rise 200 metres, delivering 97,000sq m of space in total across two city blocks spanning 11,000 square metres.
The $2.7bn project comprises five distinct glass volumes, stacked upon each other to improve views over the harbour and allow more daylight into the office floors.
Construction by Multiplex is on schedule with the tower slated for practical completion in early 2022. Another element of the Quay Quarter precinct is the Young and Loftus mixed-use development, including the 106 Loftus Lane apartments, due to be completed in 2020.
• The 50-storey tower is Designed by 3XN
• 97,000sq m commercial space
• 5000sq m of lifestyle, services, food and dining retail
• AMP has taken 36,5000sq m / Deloitte 32,000sq m
• Rest will take a $900m stake in the tower on its completion
Lendlease along with China’s Ping An Real Estate and Japan’s Mitsubishi Estate Asia, have moved ahead on its 53-storey Circular Quay tower, which will have views across Sydney Harbour and will also be one of the country's most sustainable buildings.
Ping An is the majority partner, contributing 50 per cent toward the development with Mitsubishi and Lendlease making up the remaining 30 per cent and 20 per cent respectively.
Salesforce will occupy 24 levels in the 53-storey tower on the former Jacksons on George site, previously known as 180 George or Circular Quay Tower, after securing naming rights late last year.
Salesforce Tower Sydney is one of ten towers the company has announced globally including in San Francisco, New York and Tokyo. When completed in 2022, it will be Sydney’s tallest office building.
• Designed by architects Foster + Partners
• Sydney's tallest office building, 53-storeys
• Anchor tenant is cloud-based software company Salesforce
One Circular Quay, located on the corner of George Street and Alfred streets, is an important part of a multi-billion dollar rejuvenation plan for Sydney’s CBD waterfront.
The yet-to-be-built high-end tower at the northern cusp of Sydney’s CBD will comprise more than 300 luxury apartments and a hotel complex across two towers.
The project has changed hands several times. In 2018, Yuhu Group picked up the Sydney project along with the Gold Coast Jewel development at Surfers Paradise, for $1.13bn from another Chinese conglomerate, Dalian Wanda, and held the assets in AWH Investment.
Before Wanda, Yuhu and AWH, US investment group Blackstone owned the site until 2015 when it was sold to Wanda for $415 million.
• 57-storey residential tower designed by Kerry Hill Architects
• The project includes laneways, retail spaces and restaurants
Macquarie won the right to build two towers at the north and south entrances of the future station after an unsolicited proposal to the NSW government in 2017 and went on to pay $355m for the air rights in 2018.
The 29-storey south tower is located on the site of the former Tiffany & Co flagship store and will have naming rights for its new owner.
Macquarie will retain the larger north tower—which will rise to 39 storeys with 75,000sq m of office space—with the integrated station precinct to be completed in 2024.
Lendlease has been appointed to build both towers and the new metro station.
• 30,000sq m A-grade tower designed by Tzannes
• Station and 1000sqm retail designed by Grimshaw
• Tower floorplates of 1100sq m and podium 1300sq m
• Integrated with the new Sydney Metro Martin Place Station
• Super fund ISPT payed $950m for the tower
The project, which spans a 24,900sq m development area, entails demolition of the existing Cockle Bay Wharf buildings, the Crescent Garden-Cockle Bay Wharf enclosed pedestrian bridge and the former monorail structure.
• Plans originally lodged in 2016 and approved in 2019
• 75,000sq m office space and 14,000sq m of retail
• The development would create over 1ha of public space
The project will include public promenades, a ferry wharf and more than 30,000 square metres of public open space.
The existing fish market site will also be redeveloped, likely with apartments. The funds gained by developing the existing site are expected to be used to offset the cost of the new fish markets.
Early works are slated to commence in late 2020 with the popular Sydney attraction with visitor numbers are expected to double to over five million people a year once complete in 2024.
• Designed by Danish architects 3XN, BVN and Aspect Studios
• The project will have a 6-Star Green Star rating
• The project remains subject to planning approval
Chinese-backed developer Greenland Australia is closing in on completing its $700m Greenland Centre tower in Sydney's CBD, set to be the city’s tallest residential tower.
Greenland acquired the former Sydney Water Board site at the corner of Bathurst and Pitt Streets in 2013 for $113m, submitting plans for the 67-storey tower and enlisting Probuild to build it.
The building, which topped out in September, will match the height of western Europe’s tallest residential tower, the 67-storey Greenland Group’s Spire London project.
The building will also include retail tenancies, carparks and a creative hub as part of City of Sydney’s public domain works.
• Designed by architecture firms BVN and Woods Bagot
• 479 luxury 1, 2 and 3 bedroom apartments
• The 235m tower will be Sydney’s tallest residential tower