Brookfield Properties and Oxford Investa Property Partners (OIPP) have completed the first stage of their $200 million 388 George Street redevelopment.
Prominently located on the corner of George and King Streets in Sydney’s CBD, 388 George Street will deliver 38,364 square metres of A-Grade commercial office space and 2,680 square metres of prime retail space to the CBD core.
Stage One of the project has involved the delivery of an all-of-building refurbishment of the existing 28-storey office building, including a new tower lobby and end-of-trip (EOT) facilities while the second and final stage will see the delivery of a brand new five-storey, FJMT-designed mixed-use pavilion to complete the project.
The state-of-the-art EOT facilities will offer a range of convenient services for tenants including luxury towels, ironing and grooming stations and parking for 366 bikes.
With user experience at the forefront of 388 George Street’s design, EOT facilities are located on level one rather than the basement and a dedicated lift provides exclusive and direct connectivity from the basement level cycle parking.
The refurbishment of the existing A-Grade office tower has made use of the building’s existing infrastructure, with interconnecting stairs added, enhancing connectivity and collaboration for occupants. Upgrade works also included new ceilings, carpets, bathrooms, lift floor lobbies and on-floor amenities.
Inter-floor connectivity has been achieved with the installation of staircases throughout the building’s existing five, four-level atriums.
Furthermore, 388 George Street’s stone concierge desk has been carved from solid blocks of London White Marble, with each block weighing approximately 200 kilograms.
The mixed-use pavilion, due for delivery later this year, is expected to add an important new landmark to the CBD core, with five-storeys of commercial and retail space, a rooftop bar and flagship retail stores.
Danny Poljak, Executive Vice President & Co-Head of Brookfield Properties said: “We are thrilled to reach this exciting milestone at 388 George Street and transform another of the Sydney CBD’s established office buildings. Not only have we added significant value by upgrading the existing commercial tower and developing the new retail podium on a dormant part of the site, we have also enhanced the site’s connectivity to George and King streets.”
“The development will completely transform this busy city corner and integrate with the newly pedestrianised George Street with a through-site link planned in the next stage linking to King Street,” he said.
Nicole Quagliata, Fund Manager, OIPP said: “We are delighted to unveil the first stage of 388 George Street’s transformational refurbishment. The recently completed improvements establish the building as a leading contemporary workplace for our tenants, providing high-quality amenity within a prominent Sydney CBD location. The new mixed-use podium with premium retail opportunities will bring new amenity to the revitalisation of this exceptional George Street location.”
Ian Lyon, Head of Development, Asia Pacific at Oxford Properties Group, added: “388 George Street is part of the continued improvement of the OIPP portfolio. We are immensely proud of what the team have delivered.”
The project created over 250 jobs during its construction.