Mirvac JV’s $160m Waterloo Office Tower Approved

A $160-million over-station development has been given the green light as part of Sydney’s $900-million Waterloo Metro Quarter development.

The New South Wales government has approved the plans for a nine to 15-storey commercial tower with public open space, including Raglan Plaza, connecting the site to the public transport connections.

According to approval documents, the project is expected to create 436 construction jobs and 3436 operational jobs, and will “strengthen the competitiveness of Sydney as an economic hub”.

It is one part of the proposed $900-million joint venture development between Mirvac and John Holland, who have also lodged plans for a 24-storey apartment building and a 25-storey student accommodation building, to be operated by Iglu.

The project sits within the Waterloo State Significant Precinct, a 20ha parcel of land in central Sydney that has been earmarked for urban renewal.

The proposal also includes more than 2200sq m of public open plazas, retail laneways and community space.

The consortium said it had worked closely with community groups to create the place-making strategy to support its development application.

Mirvac chief investment officer Brett Draffen said the project offered people a chance to live and work nearer to home.

“By providing more options for people to work closer to home, our design gives careful consideration to supporting post-Covid-19 lifestyles and the needs of future generations,” Draffen said.

“With more people choosing to work closer to home in lower density, green environments, Waterloo Metro Quarter is designed to unlock the value of the metro.”

The precinct will be supported by a 2200sq m childcare centre and health services on site, alongside retail laneways, dining and 2200sq m of publicly accessible open plazas.

John Holland chief executive Joe Barr said the project would create much-needed jobs at a critical time for the economy.

The project is scheduled to be completed at the same time as the opening of the Sydney Metro City and Southwest line—connecting a new route under the central business district with the existing Bankstown Line—in 2024.

The Metro Quarter project will be integrated with the new Waterloo Station.