$1.5b Plans for Sydney CBD tower resubmitted by Mirvac

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Mirvac have resubmitted their plans for a massive $1.5b premium office tower, set to be located at 55 Pitt Street in the Sydney CBD. 

Originally billed to provide as much as 45,000sq m of commercial space, the Circular Quay tower will now grow noticeably to deliver approximately 60,000sq m of retail and commercial space to the area. 

Pending the approval of the City of Sydney, the company said they intend on launching an international design competition for the landmark site, aimed at providing a "vibrant, new destination for Sydney". 

Some areas of the site have been held by Mirvac since as early as 2003. The proposed building encompasses three addresses with frontages to Pitt, Underwood and Dalley Streets. 

If constructed, the tower will be built with areas connecting the streets, as well as creating new ties with the city's revitalised public art works, public transport, and, potentially, space for technology groups. 

To support the construction of the new tower, Mirvac pointed towards it's successful delivery of the neighbouring 37-storey EY Centre, located at 200 George Street. Constructed in 2016, the tower has since collected over 20 national and global industry awards for its achievements across sustainability, design, construction and innovation. 

“We look forward to working with council and the community to reimagine this site in a way that will bring real benefits to the city and its community,” a Mirvac spokesperson said. 

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The developer is also looking to take advantage of the current climate with plans to roll out its first build-to-rent apartments in Sydney shortly.

In Brisbane, Mirvac recently moved ahead with plans for the fourth tower in its 14,000sq m residential Waterfront Newstead precinct.

The 25-storey tower, set to include 143 apartments, will be located at 58 Skyring Terrace, within the developer's $1 billion Newstead masterplan on the fringe of the CBD.

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