Tall & Urban News

Sydney’s central business district will see its first purpose-built, build-to-rent skyscraper as part of a major twin-tower development led by Oxford Properties.

The appointment by the New South Wales government was awarded to a Grocon-assembled consortium on the Sydney Metro Pitt Street development. The appointment sees CPB Contractors, the construction arm of CIMIC Group, work with Oxford Properties on the design and construction of two new 39-story towers.

The towers will sit atop the new Pitt Street Metro station and comprise one build-to-rent residential building at 125-129 Bathurst Street, slated for completion in 2023. The other tower at 252 Pitt Street, which will have commercial offices, is expected to be completed in 2024.

Canada’s Oxford Properties and CPB Contractors are part of the consortium assembled by construction and development giant Grocon, on the transport infrastructure development, dubbed “the biggest urban rail project in Australian history.”  An underground Pitt Street Station will run from Park Street to Bathurst Street.

The Pitt Street transit-oriented development will deliver up to 65,000 square meters (688,890 square feet) of space in a new commercial and residential hub.

The office tower was designed by Foster + Partners in collaboration with Cox Architecture. It will contain 47,480 square meters (511,070 square feet) of space, along with a retail plaza.

The residential tower was designed by Bates Smart and will deliver 230 apartments. Amenities will include a restaurant and bar, lap pool, indoor-outdoor fitness center, fully equipped gym, cinema, and rooftop entertaining area.

Oxford Properties Australia director of development Ian Lyon says the Bathurst Street tower is a “major milestone” for Sydney’s residential market as the first purpose-built, large-scale build-to-rent tower in the CBD.

Lyon said the group’s plans for Pitt Street are in line with Oxford’s strategy to invest in high-quality assets in high-growth global gateway cities.

“And the Pitt Street project represents a substantial and long-term investment in Sydney,” he said.

For more on this story go to The Urban Developer.