This article is from the Australian Property Journal archive
SYDNEY’S tallest residential tower has been approved as part of the City of Sydney’s $1 billion spree of project approvals to inject activity into the construction sector.
As well as 505 George St, the Central Sydney Planning Committee also gave the green light for the EVENT’s neighbouring 150 metre tower at 525-529 George St, which will have a 450 room Atura Hotel, 72 apartments and boutique cinema.
Within the Oxford St revitalisation precinct, a new medical hotel was approved for the former Olympia Theatre site at 1-11 Oxford St. A collaboration between St Vincent’s Hospital – located across the road – and CE Boston Hotels, the heritage listed property will be used for purpose built accommodation for patients and families, and health services facilities.
Mirvac is managing the 270 metre tall development at 505 George St on behalf of Coombes Property Group, with Architectus and Ingenhoven Architects selected following an international design competition in 2018.
The proposed tower includes 507 apartments, including luxury serviced suites and a rooftop restaurant and bar, and a podium with a boutique cinema, retail, conferencing facilities, a childcare centre and a meeting room facility for Council.
Applying a “friendly neighbour” approach, the signature tower is an environmentally and socially sustainable development designed to integrate with the existing surroundings and improve pedestrian connectivity at ground level by linking George St and Kent St.
The tower will be Australia’s tallest residential building to receive a 5 Star Green Star Design and As-Built rating from the Green Building Council of Australia.
“We are elated that 505 George Street has been approved by the Central Sydney Planning Committee. The mix of uses and street activation will redefine the precinct and add to a more diverse and connected neighbourhood,” Architectus principal and chief executive officer, Ray Brown said.
Coombes Property Group director, Michael Coombes the project’s delivery will “signal the resurgence of Sydney’s mid-town, revitalising the historic precinct which includes the adjacent Town Hall complex, and bringing it back into line with nearby Darling Harbour and Circular Quay, by making it a global destination in its own right.”
In a similar move late last month, Victorian Planning Minister Richard Wynne approved $3.5 billion of projects in central and inner Melbourne, including Malaysia-backed Beulah International’s mammoth $2 billion tower of 368 metres that will become Australia’s tallest.
