This article is from the Australian Property Journal archive
ISPT has opened the doors to its $135 million redevelopment of a 30-storey office tower at the gateway to Sydney’s Tech Central precinct.
ISPT has held 477 on Pitt Street since 1999 and embarked on the transformation last year. The 30-storey mixed-use tower includes 43,500 sqm of commercial space with floorplates spanning up to 2,500 sqm. Commitments are at over 70%, with tenants including legal firm Moray & Agnew, fintech firm Hnry and Canadian manufacturing company BRP, who are joining Sydney’s first government-supported scale-up hub, operated by Stone & Chalk.
Stone & Chalk’s tenancy is a six-level 8,000 sqm hub for tech scale-ups and is a joint initiative with Investment NSW that provides subsidised office and collaboration space as part of the government’s commitment to deliver 25,000 sqm of affordable space for starts-ups, scale-ups and other innovation businesses in Tech Central.
The Tech Central is a burgeoning precinct on the edge of the CBD that the NSW government is hoping to turn into the city’s answer to Silicon Valley. Construction has commenced on tech giant Atlassian’s $1 billion future headquarters, being developed by Dexus, and Dexus and Frasers Property have gained approval for their $3 billion Central Place development. The precinct has also already attracted the likes of visual effects company DNEG, which has worked on some of Hollywood’s biggest films such as the James Bond, Harry Potter, and Fast & Furious franchises.
The 477 on Pitt precinct encompasses three heritage buildings – the original 1922 Australian Gaslight Co (AGL) showroom, a historic Presbyterian house and Sydney’s first-ever fire station, incorporated into the modern public ground floor plane and office tower.
The project has seen a transformation of the lobby entry experience, a rejuvenated façade due in 2025, the addition of a wellbeing facility as well as Flex by ISPT, offering executive meeting rooms, team working and collaboration and event spaces, plus a new rooftop terrace overlooking Belmore Park.
The AGL building has been reimagined into a collaborative work and events space called Collider, a setting designed for private events, gala dinners, conferences and presentations.
A centrepiece of the redevelopment is a 19-metre-long hand-crafted collaborative table and 12-metre-wide digital LED display on the ground floor lobby that can be seen from Pitt Street, and will be used to showcase a commissioned digital art piece from artist Jacob Nash.
“Far from a traditional workplace, the new 477 is a dynamic, next-generation space where flexible floorplates and premium, collaborative amenity have been designed to suit the needs of pioneering companies looking to scale, while also granting them access to vibrant professional networks and a buzzing atmosphere that brings ideas to life,” said ISPT’s head of portfolio – office, Nicole Ward.
“477 sits at the anchor point to Tech Central and is one of the first of these next-generation assets to reach completion within the precinct, allowing companies to establish themselves in one of the most innovative and progressive tech precincts in the world.”
Architects Wardle, which recently recommitted as a tenant partner within the precinct, designed the transformation, while ISPT also engaged First Nations landscapers Yerrabingin.
ISPT is also undertaking a major repositioning of Melbourne, with a $150 million investment currently underway to redevelop 500 Bourke Street in the CBD.
“Where possible, we are focused on repositioning, rather than demolishing, existing assets to unlock value without the associated environmental impact of knocking down large structures which releases significant amounts of embedded carbon. This is a key driver in all of our investment decision-making,” Ward said.
