AMP Capital receives Stage 2 DA approval for landmark Circular Quay precinct
AMP Capital has received stage two development application (DA) approval for its landmark Quay Quarter Sydney precinct in Circular Quay.
The approval includes the new 49-floor premium commercial office Quay Quarter Tower at 50 Bridge Street.
There will also be three new mixed use building at 9-17 Young Street, 2-10 Loftus Street and 16-20 Loftus Street.
The site area which will span 11,000 sqm features a diverse mix of commercial, retails and residential uses including speciality shopping, cafes, restaurants and bars.
AMP Capital Managing Director Office & Industrial Louise Mason said construction was earmarked to commence in 2018.
In an effort to design excellence, architects SJB, MAKE Architecture, Silvester Fuller and Carterwilliamson were all selected to design the buildings on the Young and Loftus Street sites.
The Quay Quarter Tower at Circular Quay will be designed by 3XN and Masterplan. The two architects have been used to inject some architectural character into the city, making the development one of the city's most architecturally diverse precincts.
Five laneways will also be created including the reinstatement of Goldsbrough Lane, an East-West Link between Phillip and Young Streets, providing a new public walkway with views towards the surrounding heritage buildings including the Police and Justice Museum, Customs House and Hinchcliff House.
Louise Mason suggested Quay Quarter Tower sets new benchmarks in premium office tower design globally and "a compelling investment opportunity for our clients."
“The precinct will cater to all times of the day, from workers buying a coffee on their way to the office through to family day-trippers, evening diners and late night supper seekers.
"The development will bring about a major revitalisation of Circular Quay, elevating the area to its rightful status as the gateway to Sydney,” she added.
50 Bridge Street is jointly owned by investors in the AMP Capital Diversified Property Fund and the AMP Capital Wholesale Office Fund.
Construction is expected to take three years to complete.