Mirvac tech park gets nod from NSW government

The Australian Technology Park in Sydney.

Mirvac Group’s plans to build a $1 billion commercial precinct on the fringe of the Sydney CBD have moved a step closer with the NSW government recommending the developer’s proposal for the Australian Technology Park.

The NSW Planning Assessment Commission is expected to make a final decision on the proposal for the office and technology precinct at Eveleigh by the end of the year.

It is understood the commission will hold a public meeting in the next month to address potential issues.

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“This is the final stage of the DA approval process, and we are hoping within the next six to eight weeks that we can get a final determination,” Simon Healy, general manager of commercial development at Mirvac, told The Australian.

Mirvac, along with partners including AMP Capital Wholesale Office Fund and Sunsuper, won the rights to develop the 14ha parcel last year, paying $263 million for the property.

The development proposal includes three new mixed-use buildings, ranging from four to nine storeys with around 93,000sqm of office space for the Commonwealth Bank of Australia, as well as retail outlets, community space, childcare, a gym and car parking.

Mirvac will also revitalise the Locomotive Workshop, which will be dedicated to technology and innovation users and start-up businesses. Additionally, up to 75,000sqm of floor space will be reserved at ATP for technology uses in the future.

We are hoping within the next six to eight weeks that we can get a final determination

The proposal, which was exhibited early this year, received 98 submissions from the public including 92 objections, according to the state planning department.

In its assessment report, the department has recommended conditions addressing some of the key issues raised by the community, such as redesigning of one of the buildings to reduce the impact of overshadowing on properties south of Henderson Rd.

“Mirvac has been working with the department very closely for the past three or four months, so we are very much aware of those (conditions),” Healy says.

Other major conditions include removing an external car park on the western side of one of the buildings, ensuring that the local community can use the facilities on the site, and requiring Mirvac to contribute financially towards the wider community and to fund affordable homes in the Redfern and Waterloo area.

With the Commonwealth Bank committed to lease the vast majority of the space, Mirvac, the bank and nearby owner Centuria are currently talking to a number of groups that can provide tech incubation space in the park.

“That’s the obligation that CBA, Mirvac and another land owner Centuria has, and we are working towards securing a provider and do a joint venture to provide that,” Healy says, noting this could happen in the next three to six months.

“It could be just a provider of innovation co-working spaces.”

This article originally appeared on www.theaustralian.com.au/property.