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

Mark Baljak was a co-founder of Urban.com.au. He passed away on Thursday 8th of November 2018 after a battle with cancer. He was 37. Mark was a keen traveller, having visited all six permanently-inhabited continents and had a love of craft beer. One of his biggest passions was observing the change that has occurred in Melbourne over the past two decades. In that time he built an enormous library of photos, all taken by him, which tracked the progress of construction on building sites from across metropolitan Melbourne.

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