Chinese-backed Maville Group has proposed 33-storey office tower for North Sydney, with nearly 20 per cent of the property earmarked to co-working, small business and startups.
Partially cantilevering above the eight-storey 116 Miller Street, which is also owned by Maville, the 11,000 sq m office will be developed by Nick Shen whose seeking to demolish the four-storey building at 173 Pacific Highway. The cantilevering approach aims to maximise the air space above 116 Miller Street.
Maville plans to offer single and part-floor office spaces that would cater to “smaller, newly established or growing companies”. Six of the proposed 33 floors have been designated for coworking spaces.
“The specific office space being delivered on the site will contribute to the diversity of the office market in delivering smaller office floor plates and coworking spaces,” the planning application says.
For $133.88 million in 2017, Maville acquired 173 Pacific Highway and 116 Miller Street - the strongest pure investment sale of the year in North Sydney.
Image and article source: https://www.commercialrealestate.com.au/news/developer-maville-group-proposes-33-storey-office-tower-for-north-sydney/
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