Cbus Property and the Scentre Group have entered a joint venture partnership to deliver a high-rise tower on top of the original David Jones Men’s Store in Sydney.
The heritage building will be redeveloped with an aim to transform it into a luxury development that provides residential, commercial and retail space.
Cbus Property will build a 22-storey residential tower with a limited number of boutique apartments and penthouses. Only 101 residences will be available, with a goal of connecting heritage with modernity.
The tower, located at 111 Castlereagh and designed by architects fjmt, will have curvilinear architecture that appears to bear no load, floating above the heritage building below. It will also include a layered outdoor environment with a swimming pool, social spaces and gardens.
Cbus Property will also deliver six floors of premium grade office space at 121 Castlereagh Street. The 11,500 square metres will be connected to the extension of Westfield Sydney below it and range from floor seven to 12.
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As part of this, a central atrium will create a vertical flow through the core of the design and link the sites users to flood the retail and commercial levels with light. It will also include an exclusive lobby entrance and have contiguous floor plates that range from around 1700 square metres to 2030 square metres.
121 Castlereagh aims to achieve a 5-star Green Star rating, 5.5-star NABERS Energy rating and WELL Gold rating.
“The Castlereagh site offers a prestigious address with rare historic character in the centre of Sydney,” Cbus Property Chief Executive Officer Adrian Pozzo said.
“It provides the opportunity to offer the best of both worlds by both showcasing the heritage and also bringing it into the future, with new architecture and world-class commercial and residential assets.
“Cbus Property is making a bold move to reshape the Sydney skyline, setting a new standard in customer experience and transforming the city lifestyle with this landmark development.”
Scentre Group Director Development and Strategic Asset Management Stewart White said Westfield Sydney plays an integral role in anchoring the key retail and luxury precincts in Sydney’s CBD.
“The highly anticipated extension of Westfield Sydney to the adjacent David Jones Men’s Store site will cement Westfield Sydney as the city’s pre-eminent luxury destination, offering experiences and ambience that reflect the lifestyle and aspirations of our global city,” he said.
Colliers International was appointed to act as the selling agent and leasing agent for the new building.