Sydney is to get a new, $110 million state-of-the-art office tower, at 151 Clarence Street, in the heart of the western corridor now seen as the gateway to the new Barangaroo South precinct.
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It will add to the current multi-billion dollar construction boom in Sydney, where the number of cranes dotting the skyline rival those the pierced the city and suburbs in the lead-up the 2000 Sydney Olympics.
Investa, which owns the property, has been given its Stage 2 development approval from the City of Sydney Council, will name the 18-storey property, Barrack Place. It has views down Barrack Place to the clock tower of the former GPO, in Martin Place, now the home to the Westin Hotel.
The same group is also developing 60 Martin Place, which has a unique "curvy" facade at the eastern end of the plaza.
The existing B-grade building in Clarence Street, will be demolished in March 2016 to make way for a new A-grade, 18 storey, 22,000 square metre building designed to achieve a 5-star Green Star and a 5-star NABERS Energy rating. It is already 28 per cent pre-committed to engineering group Arup, for the podium floors, 2 to 6.
Mark Tait, general manager commercial development, Investa Office Fund (IOF) said Architectus have designed a world class office solution that "seamlessly marries the old and the new to allow the building to take its place in the Clarence Street warehouse district, whilst integrating a contemporary tower above".
"The retail offering and through-site access will significantly contribute to the transformation of the Barrack Street end of Martin Place, creating a new public destination for Sydney."
Mr Tait said there will 190 bike spaces and modern "end of trip" facilities including showers, lockers and change rooms.
The tower floors on levels 9 – 18 will have access to views, while the transfer floor at Level 7 has the same footprint as the tower floors above and is located at the top of the podium with access to a generous roof terrace overlooking Clarence Street.
Mr Tait said the public domain "experience" is an integral part of the scheme with the retail precinct to looking to lease to an "eclectic mix of top quality food and beverage operators".
Ming Long, group executive and IOF fund manager said Barrack Place is designed to deliver to flexible work areas, to cater for open plan offices, on the "current and future office space occupiers design flexibility, on the cusp of Martin Place".
