Macquarie Group has entered into a binding agreement with the NSW Government to design and deliver a new integrated station development in Martin Place. It will integrate a new Sydney Metro railway station, two new office towers and a contemporary retail, dining and lifestyle hub.
Under the new agreement, Macquarie, along with designer and contractor Lendlease, will deliver the new underground Martin Place metro station which will integrate with a retail and recreation precinct, two new office towers and the existing Martin Place railway station which services the Eastern Suburbs and Illawarra Line.
Macquarie is taking an integrated approach to the development which allows for unique elements, including easy transit for commuters between the suburban and metro railway lines, natural light down to the metro platform level, allowing for significant public concourse space and adding a sense of arrival into the CBD.
Martin Place is anticipated to become one of the busiest transport interchanges in Sydney. The design has been informed by the world’s leading integrated transport-based public precincts, such as New York’s World Trade Centre station and Hong Kong’s International Finance Centre. The design for the building has also been strongly influenced by aspects of the City of Sydney’s 2030 plan in terms of what Sydneysiders want from their city, including a place that respects diversity and offers vibrant culture and entertainment.
Integral to the precinct’s design are diverse retail, dining and other lifestyle options that will enrich and enliven Martin Place and contribute to its ongoing reinvigoration. Active street frontages, elevated terraces, natural light-filled atrium spaces and bike parking facilities are pivotal to a design that is in keeping with the streetscape along Martin Place.
As of today, Sydney Metro has already commenced demolition and excavation work on the site’s location due to overall construction of the Sydney Metro City & Southwest metro line (which is independent of Macquarie’s proposal).
The project will see approximately 2,500 jobs created during its construction phase. Macquarie and Lendlease have already committed their stance to workplace diversity, stating that the project will hold several employment opportunities for female and Indigenous participation and will see the hire of several local apprentices as well.
Macquarie Group’s Chief Executive Officer, Nicholas Moore said Macquarie understands and respects the historic, cultural and civic significance of Martin Place.
“We are proud to have contributed to its recent evolution through our successful restoration and reinvigoration of the historic 50 Martin Place, which will be integrated into the new precinct.”
The office towers have been designed to achieve the highest possible sustainability credentials currently available – the Green Building Council of Australia’s Design & As Built 6 Star Green Star rating. Both buildings will include the capture and re-use of rainwater, implement smart technology and maximise as much natural light as possible.
Macquarie is responsible for delivery of the development by 2024.
More information on the project can be found here.