Darling Harbour Highrise, Hanging Gardens Approved
Amendments to a dramatic proposal to reshape Sydney’s Cockle Bay Wharf, including a 43-storey mixed-use tower and a garden above the Western Distributor, have been greenlit.
Construction in six stages will require about three years, with approval clearing the way for the demolition of structures on Cockle Bay Wharf and other early works.
The GPT-led, AMP-backed $891-million project at 241-249 Wheat Road won concept approval in 2019 from the Independent Planning Commission for the design by Henning Larsen.
At the heart of the 2.2ha site will be a 183m tower and gross floor area of 89,000sq m that comprises 75,000sq m of commercial space, 14,000sq m of retail and minimum public space of 6500 square metres.
Since that approval was granted, the surrounding Darling Harbour precinct has evolved, including the 2023 completion of the troubled Ribbon/IMAX project, and placemaking at Tumbalong Park.
Mirvac’s $1.2-billion redevelopment of the Harbourside shopping complex reached the 20th storey in November, and is on track for a 2027 completion.
The latest approval under the State Significant Development pathway gives consent for an expanded podium envelope to incorporate improved pedestrian connections including lifts, elevators and a new pedestrian bridge to Market Street.
The podium height has increased by 3.1m, and pergolas and 555 bicycle parking zones have been added. No onsite parking is provided.
Public open space has been set at 15,089sq m, including the 5500sq m park on the podium roof above the Western Distributor, and 511 new trees will provide canopy cover of 30.6 per cent. The existing Crescent Gardens will be reduced from 3280sq m to 2940 square metres.
The approval is the latest in a flurry of big-ticket activity for the GPT Group. In October, the group entered a new partnership arrangement with CSC for the $1.72-billion Grosvenor Place at 225 George Street.
In November, GPT landed its first major tenant at the $1-billion Deer Park Estate, securing Asahi Beverages as the anchor for the 330,000sq m Melbourne industrial complex.
And also in November, the GPT Wholesale Office Fund offloaded the 10-storey tower at 750 Collins Street in Melbourne for $383 million. The buyer was Singaporean investor Trust Capital Advisors.
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