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Martin Place to receive two new office towers

Property Markets / Planning, Zoning, Infrastructure

Australia

Mar 26 2018

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The NSW government has approved two new office towers at Martin Place, to be developed by Macquarie Group, despite objections from Dexus and GPT Group. 

The objectors, who own nearby property, expressed concern about the future of the historic financial strip.

The $3 billion dollar project, which will accommodate the new station at Martin Place on the Sydney Metro line, signals a Macquarie’s powerful return to real estate.

The Martin Place project would see more than 250,000 square metres of commercial space delivered, as Macquarie builds an office tower with more than 40 storeys on the northside site, connected with the bank’s 50 Martin Place building.

Another 135m-high office tower of more than 28 storeys on the southside site, resulting in combined office, business and shopping space over a gross floor area of 125,437sq m.

Photo by Farrel Nobel on Unsplash

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