Sydney developer Mackycorp, led by managing director Michael Hercus, has submitted a development application for an office tower set atop one of Liverpool’s oldest heritage buildings in the heart of the CBD.

The developer will invest $106.5 million into the project, which proposes to conserve the heritage-listed New Commercial Hotel currently on the site and erect a 23-storey, 27,000sq m commercial tower.

Located opposite Liverpool train station, the proposal will include a walk-through “Spice Alley” food market forecourt to be included as part of the plaza-style civic space at the centre of the development site.

Dubbed “The Stables”, the developer is also proposing the construction of a two-storey building to the north of the site to wrap around the heritage-listed Commercial Hotel and provide ground floor “activating” uses such as restaurants and cafes.

The 1,200sq m civic space will provide through-site links and a “24-hour quality” to the CBD site, Mackycorp outlined in its application.

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Prompted by Liverpool’s growing role as the financial hub of Sydney’s third “central river” city, Mackycorp said the arrival of Western Sydney Airport Co (WSA Co) to build the new Badgerys Creek Airport will attract significant commercial investment in the area.

“Engineers, architects, designers, builders and other construction-related businesses will favour accommodation close to WSA Co given the level of investment involved to deliver the circa $5.3 billion project,” Hercus said.

“We really like the fundamentals for Liverpool, the existing health infrastructure, rail infrastructure, city grid system and population growth bode well for a successful city.”

Mackycorp hopes to encourage patrons to access the 1,200sq m civic plaza on the site from the Liverpool Station and the Liverpool-Parramatta Transitway.

“The new civic space will encourage community activation, pedestrian permeability and local amenity and [strengthen] existing urban connections,” the development application said.

"On a day-to-day basis, [the civic space] will provide through-site links in both a north-south and east-west orientation by widening footpaths and improving circulation."

Mackycorp’s development application, lodged last month, will require final determination by the Sydney Western City Planning Panel after initial assessment by the Liverpool City Council.