Sydney’s Central Station precinct a step closer
Central, the technology precinct emerging around Sydney’s Central Station, has taken a forward step with top local and international architects appointed to build a $2.5bn project for Dexus and Frasers.
Their towers will sit next to the new Atlassian headquarters that is being developed and will become a larger technology hub hoped to house 25,000 jobs.
The NSW government is hopeful that the technology park next to Central will be a key driver of the economy as the city comes out of the coronavirus crisis.
For the property company, it indicates its confidence in developing large towers at a time when some are wary about the future of office buildings.
Technology companies are taking a multifaceted approach, going for large campus-style buildings but allowing staff to work from home where they can.
Sustainable and environmentally conscious design is emerging as a key theme for projects within Tech Central, with Dexus proposing a 39-level tower to run on 100 per cent renewable energy.
A range of healthy building tech initiatives including touchless entry points are also being tested, with the developer exploring the opportunity to implement the world’s first closed cavity facade system powered by artificial intelligence and solar glass.
Dexus CEO Darren Steinberg said the hub had the potential to set the world standard for environmental and city design.
“The future of work and workplaces will be defined by the technology and innovation businesses who will occupy this precinct, with Central Place Sydney set to become a leading innovative workplace and a global exemplar of city centre regeneration,” Mr Steinberg said.
The sentiment was echoed by Frasers Property Australia CEO Rod Fehring, who said Central Place Sydney was a never to be repeated opportunity in scale and potential.
Dexus is undertaking a larger shake up of its city portfolio and is selling off key properties. It has garnered strong interest in a stake in Sydney’s landmark Grosvenor Place and may approach pre-crisis pricing on the $2bn asset.
The company offloaded a Clarence Street office tower to a Singaporean investment house for $530m last month and it has also fielded offers on other assets.
One building that is in focus is 383 Kent Street, an A-grade office tower in the Sydney CBD which is believed to have drawn the attention of Charter Hall Group.
The complex between Town Hall and Wynyard train stations has 12 levels of A-grade office space and was valued at about $372m last June.
In June, Atlassian revealed its plans for a 100 per cent renewable energy 40-storey office tower which will become the company’s headquarters once complete. It is hoped to become the world‘s tallest timber structure and use 50 per cent less carbon in construction compared to a conventional building.
NSW premier Gladys Berejiklian previously expressed she wants the precinct to “rival Silicon Valley” as a tech hub for jobs and innovation. It is hoped the precinct will house 25,000 jobs in the coming years.
– with Ben Wilmot
This article originally appeared on www.theaustralian.com.au/property.