The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
UPCOMING EVENT - INDUSTRIAL AND LOGISTICS SUMMIT 16 OCTOBER, SYDNEY
INDUSTRIAL AND LOGISTICS SUMMIT - TICKETS NOW ON SALE
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
9
print
Print
OtherRalph NicholsonMon 06 Jun 22

Billion-Dollar Office Tower Approved in North Sydney

Stockland’s Billion-Dollar-Plus Office Tower Approved

Sydney-based developer Stockland Corporation has been given the green light for a $1.4 billion, 51-storey office tower in flourishing North Sydney, making it the tallest building in the lower north shore.

North Sydney Council approved the development application for Affinity Place, which will be across three sites on Walker Street, between the Pacific Highway and the Warringah Freeway.

Stockland has owned one of those sites for about 20 years. The other two were acquired at the end of 2019.

Stockland commercial property chief executive Louise Mason said it was a priority of Stockland’s strategy to increase their portfolio of quality workplace assets, capitalising on long-term trends in urbanisation and urban renewal.

When completed it will boast about 59,000sq m of commercial office and retail space and depending upon the type of tenants and the fit-out configuration, could house up to 6000 office workers.

The building, designed by Hassell architects, will take about four years to complete, but it is not clear when the developers will break ground.

A render of the planned tower.
▲ A render of Stockland’s planned tower in the lower north shore.

“That’s probably the $6-million question,” Stockland’s executive general manager of development for commercial property Gavin Boswarva said. “It is certainly going to be a few years yet. 

“There is a five-year lapse on the DA so, I would like to think mid-to late 2024 but that is purely a target date at this stage, and we can’t definitively give any date.”

He said the challenge with a $1-billion-plus investment in property was the long gestation period.

“So for us the documentation necessary to enable a builder to go and build it is probably a good 12 months and that is just one element,” he said.

“There is obviously the tenant side of it, we need to ensure we have got the right product for the tenants, and we have strong engagement with a number of tenants going at the moment.”

The development will include a sky garden at the top of the building—open to the public—with views of Sydney Harbour.  There will be a pedestrian link from Walker Street to Little Spring Street. The building is about 200m from the new Victoria Cross Metro Station.

The latest approval by North Sydney Council underscores the continued interest in North Sydney across office and residential projects.

OtherRetailResidentialOfficeAustraliado not useOther
AUTHOR
Ralph Nicholson
More articles by this author
ADVERTISEMENT
TOP STORIES
Salta MD Sam Tarascio
Exclusive

Why Salta Won’t Break Ground on $400m Pipeline

Leon Della Bosca
7 Min
Exclusive

Precinct Proposals Bloom as Brisbane Middle-Ring Sheds its Past

Phil Bartsch
8 Min
Exclusive

Newest Land Lease Player Plots Sector Shake-Up

Taryn Paris
5 Min
Waterloo Affordable Mirvac hero
Exclusive

Affordable Housing Rules Tighten as Proposal Deluge Continues

Clare Burnett
5 Min
Exclusive

Beyond the Aerotropolis: How Airports are Turning into Cities

Taryn Paris
6 Min
View All >
Sponsored

Mirvac and DisplaySweet: Decade of Innovation in Property Sales Tech

Partner Content
Life Sciences

NSW Healthcare Asset Portfolio Comes to Market

Lindsay Saunders
Planning

State Goes Public with Plans for 10,000 Victorian Homes

Lindsay Saunders
The state has okayed the 300-home Greenvale North scheme as projects at Ballarat and Warrnambool open for comment...
LATEST
Development

Mirvac and DisplaySweet: Decade of Innovation in Property Sales Tech

Partner Content
3 Min
Life Sciences

NSW Healthcare Asset Portfolio Comes to Market

Lindsay Saunders
4 Min
Planning

State Goes Public with Plans for 10,000 Victorian Homes

Lindsay Saunders
2 Min
Goldfields Elimbah Sell-Off hero
Residential

Moreton Bay Superlot Expected to Top $300m

Phil Bartsch
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/billion-dollar-office-tower-approved-for-north-sydney