Time & Place, Hickory and Oualitas have received permit approval on a $230 million office project at 23 – 27 Bourke Road and 41 – 43 Bowden Street in Sydney.
The 8,089 square metre site was acquired in March 2021 for $52.5 million, with amended plans for the site submitted to the City of Sydney Council in August of the same year. These plans, now approved, encompass a campusstyle, contemporary office precinct with approximately 16,000 square metres of office space anchored by approximately 1,500 square metres of ground floor retail.
Designed by John Wardle Architects, whose scheme was selected via a design competition run by City of Sydney, the site will cater to an increasingly fluid working environment, with provision for a wellness centre, premium grade end-of-trip facilities, co-working spaces and bookable shared meeting rooms.
The expansive floorplates will be built around a generously proportioned central courtyard which will be about the size of two basketball courts, and that will be accessible to the public via a site through link. A bookable meeting space dubbed ‘The Treehouse’ will be accessible at each level, while an approximately 500 square metre rooftop terrace sits atop building with capacity to operate as a presentation, private meeting or social space.
The site was acquired with an approved stage 1 DA, a condition of which was that a portion of the land would be returned to Council at the conclusion of construction. Heeding this, the project team committed to widening the footpath around the complete perimeter of the site. These efforts will create a laneway at the rear of the property to allow for future retail activation, an end of trip facility and wellness amenity set to offer tenants a steam room, sauna, ice plunge bath and juice bar.
Time & Place NSW Director Evan Papadopoulos says expanding into Alexandria has long been on their radar, and this site presented exactly the opportunity they were looking for; room for expansive floorplates that encouraged an open-plan and co-working environment, all anchored by a sophisticated, thriving commercial precinct.
“The way people work fundamentally changed during the pandemic, and we’re seeing incredible demand for commercial space in the city fringe. The fantastic location of the site, combined with a design we’re really proud of, has given us the confidence to begin work without tenants in place.”
Mark Fischer, Global Head of Real Estate and Co-Founder of Oualitas said the changes in how real estate is used by occupiers across all segments can be seen as an opportunity to deliver real estate that responds to the new demands of occupiers.
“In the office sector, we have conviction that occupiers want the kind of modern, flexible office spaces that only exist in a limited way in current office stock.”
George Abraham, Managing Director of Hickory said the Alexandria site will be a truly unique, next-generation office and community destination, “that will serve as the benchmark for the future of work and serve the local area for decades to come”.