Dexus started working on their $170 million project that aims to revitalise the retail, dining, and theatre components of the landmark MLC Centre in the Sydney city centre. A 6000 square metre retail space of the 76 storey iconic skyscraper will be redeveloped across 4 levels.
Part of the reconstruction include luxury and premium retail tenancies fronting Castlereagh and King Streets and a food plaza precinct opening onto Martin Place. Also, a new entrance and lift lobby to the commercial tower will be built in Castlereagh Street which has access to the level 7 retail arcade. On the podium above, a lobby café will open for additional recreation.
Dexus also intends to restore the Theatre Royal with a new pedestrian entry off King Street. A 45-year lease contract will be signed with the NSW government to allow for a private operator to run the space.
The redevelopment of the MLC Centre adds to the recent renaissance of Martin Place, and is expected to result into a true mixed-use destination. This project will improve the amenity in the precinct and add to Sydney’s night-time economy.
GPT and QIC have upgraded the centre in the recent years building new food court, underground supermarket and façade works on the office tower. The proposed design will re-establish Harry Seidler’s original architecture with new geometries of internally illuminated glass. Dexus plans to conclude the project by the end of 2021.
The A-grade MLC Centre comprises 66,829 square metres of office space, 6013 square metres of retail space, a theatre, and 308 car spaces.
Article and image source: https://www.afr.com/real-estate/commercial/development/dexus-rejuvenates-retail-and-dining-precinct-at-mlc-centre-20190612-p51wu9
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