New $2bn skyscraper to transform Sydney CBD
A new $2 billion skyscraper in the heart of the CBD is set to transform the Sydney skyline and the city’s real estate offerings.
Developer Milligan Group has received approval for a rezoning of a prime city site on the corner of Hunter and Pitt Streets, smack bang in the heart of Sydney’s business district.
The move is another big vote of confidence in the CBD’s post-Covid recovery.
The 52-storey, 214m tower has been positioned as the world’s tallest hybrid timber construction.
According to plans from architect Bates Smart the tower will have around 43,300 sq m office space and around 5456 sqm of retail space.
The cherry on the top is a rooftop restaurant and bar.
The developers will be required to deliver a 6-star green rating and outline plans for carbon neutral construction.
The current buildings on the amalgamated site at 19-21 Hunter St, 23 Hunter St, 105 Pitt St and 107 Pitt Street will all be knocked down to make way for the new building.
The new construction joins Atlassian’s new 180m HQ in the new tech district, which will also be a hybrid construction, as part of a new era of skyscrapers in Sydney.
The new Pitt St address will look to take advantage of the new Sydney Metro network and will be served by the Hunter St Metro station.
The Milligan Group have been in consultations on the project with City of Council since 2020 and the project was given initial approval on Thursday.
No timeline for the completion of the project has been set, yet.