Plans Filed for $225m North Sydney Office Tower

Sydney-based private investor Ying Yu has filed plans for a 37-storey office tower for the George Patterson House site in North Sydney.

Her company Dynasty ABC Investment Holdings has now filed an application for a 37-storey office tower at 107 Mount Street, which is also the company’s registered place of business.

Dynasty ABC Investment Holdings acquired the site in September 2019 for $115 million in a deal brokered by Knight Frank’s Graeme Russell and Tyler Talbot, and CI Australia’s Bevan Kenny and Chris Veitch.

The plan for the site includes the demolition of the current building, excavation to create eight basement levels for car parking, and construction of the 37-storey tower with three rooftop terraces and three podium floors.

The estimated cost of the development is $225 million.

The tower will have a gross floor area of 29,631sq m with 27,097sq m for commercial office space across 30 levels.

The Bates Smart-designed plan includes a lobby and cafe with a terrace for one podium level, with another cafe tenancy on the corner of Mount and Little Walker streets and conference or wellbeing spaces on levels one and two.

The plan also requests loading and servicing access via Arthur Street on the lower ground floor level while the parking levels will have two loading bays, 74 car spaces, and 280 bicycle spaces with end-of-trip facilities for commuting workers.

The site is a 10-minute walk from of the North Sydney and Victoria Cross train stations.

The current building on the site is a nine-storey office tower with one basement floor for car parking and one rooftop terrace and eight floors of office space.

The new development would bring the site in line with the neighbouring office tower developments in the area.

The fit-out of a rooftop restaurant will be part of a future development application.

Ying Yu is known in Sydney for picking up major property assets on the quiet.

These include an $8-million mansion in Vaucluse and a Mosman residence she bought from Chinese businessman Wilson Xue for $20 million.

She bought the Mosman residence and three other NSW properties for a total of $32.5 million without the need for finance.

Interest in North Sydney has peaked recently across office and residential projects, including a four-tower residential development at Crows Nest.