This article is from the Australian Property Journal archive
OXFORD Properties and Investa have been granted development approval for a new commercial development above the north entrance of Pitt Street Station.
The project, known as Parkline Place, will be a joint project between Oxford Properties and its Australian platform partner, Investa.
The 39-storey premium office building and retail precinct will comprise 47,800sqm of office and an additional 1,290sqm of retail space, accommodating 4,500 occupiers upon completion.
“We are excited to have achieved this major milestone, which is a reflection of the hard work that our team has put into this project and the positive impact it will have on the local community and economy,” said Nellie O’Keefe, project director of Pitt Street.
Parkline Place, which will be designed by Foster + Partners in collaboration with Cox Architecture, is intended to seamlessly integrate into the new Pitt Street metro station, which began construction in December of 2020.
Oxford was named lead developer for the office and build-to-rent residential buildings above the metro station in September 2019, with CPB Contractors charged with delivering the station itself.
“Our plans carefully consider the health, well-being and performance needs of office occupiers while embracing and adding to the already vibrant precinct. We are pleased to see the station works progressing well and are now focused on preparing for the construction phase of Parkline Place,” added O’Keefe.
The precinct and Sydney Metro station will connect Sydney’s north west and south west, with trains running every four minutes in peak hours.
“We have seen the role of the workplace and the demands of office occupiers quickly evolve, but what has remained consistent is the need for connection. Parkline Place is a great example of Oxford’s commitment to customer-centric real estate that is built to connect,” said Alec Harper, head of Australia at Oxford.
“Together with Investa, our plans draw from our global development experience to provide a sustainable, adaptable and forward-thinking workplace that brings people together in a way that inspires occupiers and enhances the local community,” added Harper.
Investa acts as Oxford’s local operating and development partner for its Australian portfolio and its build-to-rent business, with Oxford becoming a shareholder in Investa in 2020.
Construction on Parkline Place is scheduled to commence in late 2021 and is expected to create 620 jobs over a 24-month period until its planned completion in 2024.
