This article is from the Australian Property Journal archive
CBUS Property and Scentre Group are nearing their $300 million overhaul of the David Jones men’s store in the Sydney CBD.
The new development will encompasses two new addresses, 111 and 121 Castlereagh St.
111 Castlereagh St will include a 22-storey residential tower with 101 apartments and penthouse. Designed by fjmt, 111 Castlereagh contrasts the original Hawkesbury sandstone with a suspended elliptical object.
A commercial complex connected to luxury retail will be developed at 121 Castlereagh St. Cbus Property will deliver six levels, from floors seven to 12, of premium grade serviced office space of about 11,500 sqm which will be visibly connected to the extension of Scentre’s Westfield Sydney below.
They will offer large floor plates ranging from approximately 1,700 sqm to 2,030 sqm.
Cbus and Scentre Group acquired the site from David Jones’ parent company Woolworths Holdings in 2016 for $360 million.
121 Castlereagh is designed to achieve a 5-star Green Star rating, 5.5-star NABERS Energy rating and WELL Gold rating.
“The Castlereagh site offers a prestigious address with rare historic character in the centre of Sydney. It provides the opportunity to offer the best of both worlds by both showcasing the heritage and also bringing it into the future, with new architecture and world-class commercial and residential assets,” Cbus Property chief executive officer, Adrian Pozzo said.
Colliers has been appointed to act as the selling agent for the residential component at 111 Castlereagh and leasing agent for the commercial space 121 Castlereagh.
