This article is from the Australian Property Journal archive
GLOBAL tech giant Google has walked away from plans to establish its headquarters in the Bays Precinct, Sydney’s own Silicon Valley.
Google was one of 13 IT companies that submitted proposals to relocate to the earmarked the former industrial Bays Precinct, after former NSW Premier Mike Baird’s said he wanted to transform the precinct into a tech hub.
At the time, Baird said the Bays Precinct would be the city’s largest single urban renewal program since the Sydney Olympics.
The former industrial Bays Precinct comprises more than 80ha of prime Sydney harbourside land, stretching 5.5km along the waterfront — four times the size of Barangaroo – encompassing White Bay, Glebe Island and Rozelle, including the former White Bay Power station, which occupies 38,000 sqm of prime harbour front land.
Google was keen on the prized harbour front land.
However yesterday UrbanGrowth NSW said it has come to a mutual agreement with Google not proceed further with negotiations to establish a new headquarters for the company at the White Bay Power Station site.
“Both parties have been through a collaborative, respectful and comprehensive process to determine a range of options for the site. The NSW government welcomes a commitment from Google to continue its search for a long-term Australian headquarters in Sydney,” the government said.
Google said it pulled out because the new HQ would not be delivering within its desired timeframe.
Google also said a lack of transport infrastructure was also an issue.
The government said it remains committed to the development of the White Bay Power Station as a technology and innovation hub.
“Given the iconic nature of White Bay Power Station and its significance to Sydney, UrbanGrowth NSW will continue with its methodical and considered approach to the power station’s redevelopment,” the government said.
Australian Property Journal
