Macquarie group has signed a deal with the NSW government for the Martin Place integrated station development, which will introduce about 95,000 square metres of new space to the Sydney market by 2024.
The $3 billion development will consist of the new underground Martin Place station integrated with a retail and recreational precinct, two new office towers and the existing Martin Place railway station.
“With the new Martin Place Station, customers in the heart of Sydney’s CBD will have access to an unprecedented level of public transport and will be more connected than ever before,” said Minister for Transport and Infrastructure Andrew Constance.
The development is expected to create an estimated 2,500 jobs during its construction phase.
The project initiated by Macquarie as part of an unsolicited proposal in 2017 won government approval in March, despite objections from neighbours GPT Group and Dexus.
Image source: Macquarie Group
Article sources:
https://theurbandeveloper.com/articles/macquarie-wins-379-million-contract-to-develop-martin-place-?
https://architectureau.com/articles/once-in-a-generation-martin-place-two-tower-development-underway/?
https://www.afr.com/real-estate/macquarie-lendlease-finalise-3-billion-martin-place-railway-20180912-h159ye
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