ASX-listed Stockland has received the green light to build a 51-storey office tower in the North Sydney CBD, making it the tallest building on the lower north shore.
The North Sydney Council approved Stockland’s development plans for its Affinity Place project at 110-122 Walker Street in North Sydney.
The project, which brings together three sites, will provide 59,000 sqm of office and retail space, bicycle parking, end-of-trip facilities, car parking and loading facilities.
Louise Mason, CEO Commercial Property at Stockland, said Affinity Place would be among the most sustainable buildings in North Sydney, contributing positively to Stockland’s and our future tenants’ drive towards net zero carbon.
“A priority of Stockland’s strategy is to increase our portfolio of quality workplace assets, capitalising on long-term trends in urbanisation and urban renewal,” Mason said.
The property was located near the new Victoria Cross Metro Station, North Sydney Train Station and bus interchange, and the North Sydney and Milsons Point ferry.
The new metro train services will transport commuters from the Victoria Cross station to Barangaroo, Martin Place and Central within minutes.
The development will include a publicly accessible pedestrian link from Walker Street to Little Spring Street, as well as a sky garden at the top of the building.
Stockland Executive General Manager of Development for Commercial Property Gavin Boswarva said they believed organisations would continue to be attracted to landmark workplaces that exhibited design excellence within a dynamic and prosperous city centre.
“Our design will create a contemporary tower with efficient and flexible floors that will allow the curation of a variety of workspaces to suit preferred working styles and prioritise employee wellbeing,” Boswarva said.
“Tenants will enjoy floor plates that maximise harbour and city views, daylight, access to outdoor landscaped terraces and a rooftop sky garden – a unique offer for North Sydney, reimagining the future of workplace and reinforcing connection with the local community.”
Last December, Singapore-listed Keppel REIT purchased an A-grade office development in North Sydney for $327.7 million.
Lendlease was developing the Blue & William project, which was situated at 2-4 Blue Street and 1-5 William Street.