This article is from the Australian Property Journal archive
AMP Capital has received development approval to redevelop the 55-year old office building at 33 Alfred St in Sydney.
The City of Sydney has approved the Stage 2 Development Application (DA), paving the way for AMP Capital to upgrade the building, which was built in 1962.
33 Alfred St was Sydney’s first skyscraper and has local heritage listing. It was acquired by the AMP Capital Diversified Property Fund and the AMP Capital Wholesale Office Fund in December 2016 from AMP Life in a deal believed to be worth $430 million.
AMP Capital real estate chief operating officer Louise Mason said the work, which is currently due to start in 2021, will include refreshing the building’s façade as well as modernising its services and interior while maintaining its heritage characteristics and reinstating lost building features.
Once complete, the building will be premium grade, with improved environmental performance. 33 Alfred St is targeting a 5 Star NABERS rating and a 5 Star Green Star v3 rating.
“We are delighted to have received approval for the redevelopment of 33 Alfred St from the City of Sydney, who we have consulted with on this project for more than two years. After 55 years, it’s time to upgrade the building and give it new life for many more decades of service.
“This work will make 33 Alfred St one of Sydney’s most highly sought-after, premium-grade office buildings. However, it will still be recognisable as one of the most loved and distinctive buildings at Circular Quay, the gateway to Sydney. We are committed to sensitively and sustainably renewing 33 Alfred St for the benefit of its investors, future tenants and the local community.”
AMP Capital has been advised by architect JPW.
Australian Property Journal
