Addenbrooke is continuing to put faith in the office sector, creating plans for a 12-storey office building and “vibrant laneway” next to Mecca Coffee at Alexandria.
The SJB-designed concept plan has been put to City of Sydney Council and the site has been listed as the developer looks divest the property for more than $30 million.
Addenbrooke managing director Ned O’Neil said Green Square was ripe with potential.
“We have amalgamated this site over the last 4 years and it is probably the best holding in Green Square,” O’Neil said.
“We recently lodged a development application for a beautifully designed building by SJB Architects. We believe that Green Square is well on its way to becoming the premium city fringe market with unrivalled amenity and public transport access.
“Addenbrooke is looking to divest as we continue to add value and enhance our existing pipeline of office, residential and marina assets in
Sydney.”
The building would replace the former Marlene’s Brothel site and motor repair businesses at 20-26 Bourke Road, Alexandria.
The concept plans for the 3307sq m site were on exhibition with the City of Sydney for the site between the CBD and airport, 5km south of the city centre.
The design by SJB architects was for a four-storey podium and tower above creating 12,123sq m of commercial office space as well as one level of basement.
The cafe and roastery would be retained in the development to create one side of the laneway with a lobby and a 992sq m end-trip facility on the opposite side.
Above the podium was a rooftop garden as well as planter boxes on the balconies designed by Dangar Barin Smith.
The building would become part of the emerging Green Square urban renewal, which would scale-up the light-industrial buildings to create an “enterprise and services precinct”.
“Green Square has experienced, and will continue to experience, major population growth during its renewal and gentrification,” the planning report by Ethos Urban said.
“Bourke Road is projected to become a new thoroughfare which links the surrounding community to serices and infrastructure.
“The North Alexandria Precinct seeks to retain the industrial character of the area, increase connectivity through site links and supports a range of business uses.”
The office plans were one of many in the Sydney-based developer’s portfolio, which included plans for 333 Kent Street, a project that went on the market in 2022.
Colliers agents Michael Crombie and Trent Gallagher are marketing the site with the potential for an A-grade carbon netural office space alongside the cafe and roastery.
“Sites located within 200 metres from rail are certainly well received by the occupier market. Coupled with a DA lodged for commercial office use, this potential 13,724 square m of gross floor area should draw strong interest from occupiers and developers alike,” Crombie said.
Addenbrooke had also created Hollywood-worthy residential developments in the Starsky & Hutch at Surry Hills and Como at Rose Bay, which were yet to be built.
Currently on-the-books for Addenbrooke were 85,125sq m of commercial space, 3582 residences and 520 accommodation keys, including The Shangri-La hotel in Cairns.