This article is from the Australian Property Journal archive
OXFORD Properties has lodged a development application for a 39 storey office building on the northern component of the Sydney Metro Pitt St over-station development, shortly after submitting plans for a build to rent offering on its south end.
More than 47,800 sqm of office space, including podium roof terraces for commercial occupants, will be introduced on the north of the site, at the corner of Park St and Pitt St. A further 1,290 sqm of retail space, including food and dining options, take-away coffee, restaurant and a small bar will also be included.
Oxford Properties and CPB Contractors, in a consortium assembled by Grocon won the tender for the over-station apartment and office development in September last year, ahead of Lendlease and Brookfield Properties, and will pay $369 million to the New South Wales government for the air rights above the site.
Plans for 234 build to rent apartments on the southern component were lodged nearly two months ago.
The commercial tower has been designed by Foster + Partners in collaboration with Cox Architecture, with Investa Property Group engaged as co-development manager. Oxford Properties is the property arm of Canadian pension fund OMERS and took over the $4.5 billion Investa Office Fund in 2018.
Fund manager Investa and Oxford Properties have just submitted plans for a $500 million commercial tower at 105-151 Miller St in North Sydney, set to bring 74,000 sqm of new space to the popular office market in place of the existing MLC Building.
Immediate access to Pitt Street Metro Station, providing tenants connectivity to the metro rail that will connect Sydney’s North West and South West to the CBD, with trains running every four minutes in the peak.
Sustainability features including efficient building services, optimised passive design principles, high performance facade, and rainwater capture, targeting a 6-star Green Star rating.
“We are excited to share our plans for the Pitt Street north office building, which has been designed to be Sydney’s most forward-thinking workplace in a time when the role of the office is quickly evolving,” Nellie O’Keeffe, project director for Pitt St over station development at Oxford Properties, said.
“The north building will add an important commercial and retail component to the wider Pitt Street project, which will serve as an intersection of commercial, residential and travel in the new heart of the CBD, supporting Sydney Metro’s vision for a vibrant hub that will shape Sydney’s future.”
Construction on both the north and souths buildings is scheduled to begin 2021 and completion for 2023, ahead of metro services beginning in 2024. Oxford anticipates that around 620 jobs will be created through the construction of the north building over a 24-month period.
Ross Palmer, Partner at Foster + Partners said the Pitt St North design is inspired by its “unique park-side CBD context, bringing together office, transport, retail and public places in a coherent form”.
Alec Harper, head of Australia at Oxford Properties said it has “ambitious growth plans for Australia and remain committed to strategically growing our local business”.
