AMP Capital and Mirvac Group have welcomed the decision by the NSW Government to approve the concept plan for the development of 71-79 Macquarie Street, part of the iconic Circular Quay precinct.
AMP Capital Managing Director Office and Industrial Property Louise Mason said the approved concept plan will feature a world class residential building and luxury serviced apartment accommodation.
“This $300 million project will revitalise an important part of Circular Quay, significantly improving this landmark Sydney space for residents and visitors alike,” Ms Mason said.
“The development of 71-79 Macquarie Street will realise the original vision for the East Circular Quay precinct by completing the colonnade that extends along East Circular Quay from the Opera House.”
The plan for the development includes:
- Extending the popular harbour-front colonnade right along East Circular Quay
- Creating a new pedestrian walkway from Circular Quay to the Royal Botanic Gardens and Macquarie Street
- Giving priority to pedestrians by removing vehicle traffic from the East Circular Quay promenade
- Opening spaces for new shops and restaurants at ground level.
The proposed 19-level building will be the same height as the current building (67 metres) on a land area of 1,200 square metres. This together with sensitive design features including tapering the corner of the building will protect views for neighbours.
A national design excellence competition to be conducted by the City of Sydney will ensure the project achieves design excellence and reflects the best in architecture, urban design, sustainability and renewed public space.
Five of Australia’s leading architectural firms have been selected to take part in the competition.
“This is the first step in an extensive design and planning process with the City of Sydney, during which we will consult neighbours and other stakeholders on aspects of the project. We want a world class building that enhances the public’s enjoyment of the area,” she said.
AMP Capital and Mirvac have worked closely with the NSW Government and City of Sydney to fulfil the original vision for Circular Quay.
Discussions were also held with residents and tenants of neighbouring apartment buildings in the preparation of the concept plan.
“As a long term resident of Circular Quay, AMP Capital believes projects like 71 Macquarie can provide a catalyst for revitalising the entire precinct and we look forward to a continuing dialogue with the NSW Government, the City of Sydney and the community of Circular Quay on this important project,” Ms Mason said.