This article is from the Australian Property Journal archive
SYDNEY’S MLC Centre has been renamed as part of the tower’s $170 million transformation that will introduce 6,000 sqm of retail and dining space.
It will now be known as 25 Martin Place ahead of the first of the new retailers to open their doors later this year, including the arrival New Zealand Restaurant Good Group’s Botswana Butchery, Nour Group’s Aalia and Japanese restaurant, Kazan.
Dexus and its unlisted Dexus Wholesale Property Fund own the Harry Seidler-designed 67 level A-grade tower two years ago and kicked off upgrade works a few months later.
A new dining experience will overlook Martin Place and coincide with the re-opening of the refurbished 1,100-seat Theatre Royal Sydney with the Australian launch of the musical, Jagged Little Pill, inspired by Grammy Award winner Alanis Morissette.
25 Martin Place will deliver new and improved retail and dining across four levels, offering over 50 different retailer experiences, and is supported by the existing office tower. On completion, the overhaul will generate over 300 new retail, hospitality, and theatre jobs and attract tens of thousands of locals and tourists to the centre of Sydney daily.
International luxury fashion house Valentino will finally unveil its new Australian flagship in time for Christmas, spanning two levels across 765 sqm on the corner of Castlereagh and King streets.
“The NSW Government is investing heavily in initiatives which breathe new life into this part of the city centre and 25 Martin Place is the perfect complement to the soon to be re-opened Theatre Royal and the neighbouring Metro Station currently under construction,” Minister for Jobs, Investment Tourism and Western Sydney, Stuart Ayres said.
“As well as creating hundreds of quality job opportunities, it will improve the quality of the work day for so many of us who will eat and shop here each week.”
Dexus CEO, Darren Steinberg said, “Together with our capital partner, Dexus Wholesale Property Fund, Dexus is making a significant investment in a great city asset to ensure 25 Martin Place continues to contribute to the CBD for years to come”.
