North Sydney's commercial market expands further with a Miller Street refub planned

North Sydney's commercial market expands further with a Miller Street refub planned
North Sydney's commercial market expands further with a Miller Street refub planned

Expansion is on the agenda for an ageing North Sydney commercial complex.

In the face of mounting competition from a wave of new commercial developments landing in the expanding commercial hub opposite Sydney's CBD, owner Propertylink is looking to bring 73 Miller Street up to a contemporary standard. Having bought the commercial asset off Chinese conglomerate Fosun International for near on $150 million late last year, Propertylink are looking to undertake an extensive $48 million overhaul of the 12 level complex.

Floor plates are to be increased, resulting in a net gain of 4,000 plus square metres of space. 

Fitzpatrick + Partners have the design lead alongside Colliers International Project Management who will see the project through to completion.

North Sydney's commercial market expands further with a Miller Street refub planned
Street level perspective. Planning image: Fitzpatrick + Partners

Under plans submitted during June the existing 14,672 square metre B-grade tower will expand to include 19,439 square metres of Gross Floor Area. Fitzpatrick + Partners have also added end-of-trip facilities and an outdoor terrace to the new look complex.

Beyond the intended refurbishment, 73 Miller Street will be pitted against a host of commercial developments looking to land noteworthy tenants in the North Sydney market.

Currently 1 Denison Street and 100 Mount Street are at construction with a combined 100,000 square metres of new premium space to be added. Demolition is underway at 118 Mount Street; that Francis-Jones Morehen Thorp-designed tower has just moved to demolition with Zurich Australia backing the delivery of the tower on its former headquarters.

Also in the pipeline are developments at  86-88 Walker Street, 41 McLaren Street and the Victoria Cross Over Station Development, with the latter set to add a massive slab of commercial space to the North Sydney market.

A Knight Frank report on the state of the nation's office market noted that as of March this year North Sydney's total office space weighed in at 823,982 square metres, with a vacancy rate of 7.9%. 

73 Miller Street aside, the new builds outlined above stand to add approximately 180,000 square metres of new stock to the market.

North Sydney's commercial market expands further with a Miller Street refub planned
73 Miller Street in situ. Planning image: Fitzpatrick + Partners

Mark Baljak

Mark Baljak

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