Sydney’s Biggest CBD Project “Tops Out” To Be Sydney’s Tallest This Year

Grocon today marked Sydney’s highest “top out”, when a building reaches full structural height, for 2012, with a ceremony attended by NSW Premier, Barry O’Farrell.

CEO of Grocon Daniel Grollo, ANZ Chairman John Morschel and Mark Rigotti from Freehills were also at the ceremony, with a plaque being handed over to the building’s owners in GPT, ISPT and La Salle Investments.

Grocon’s NSW General Manager, Chris Carolan, said the 161 Castlereagh St development marked a great step forward for Grocon’s NSW business.

“We are providing a fantastic new 6 Star home for premium tenants ANZ and Freehills,” he said. “It’s a very exciting project for us and brings together our core values of safety, sustainability, community and innovation.”

The 161 Castlereagh Street development will comprise 57,000 square metres of commercial space and 2,800 square metres of retail space.

The retail component will include small wine bars, cafes, restaurants and boutiques spilling out on to an open, outdoor piazza.

The precinct will bring an added degree of quality and vibrancy to Sydney’s mid-town and provides a pedestrian link between Pitt and Castlereagh Streets.

Construction of the $800 million Tower is on schedule for completion in early 2013, with an average of 450 workers on site every day.

More than 84 per cent of the office space is already leased to Freehills and ANZ. Freehills will lease 18,500 square metres, while ANZ is taking up 29,000 square metres of premium space.

The development also comprises the heritage listed four level Legion House, originally built in 1902 as a womens hostel and outreach centre.

Legion House will be refurbished as a zero carbon building, and upon completion of its refurbishment, it’s expected to have the highest Green Star rating of any heritage building in Australia.

The 50 storey tower and Legion House are both targeting 6 star Green Star Design and As Built ratings.

Legion House will be disconnected from the mains electricity grid and create its own power on site, without emitting any additional carbon to the environment.

The creation of its on-site renewable power will be achieved through biomass gasification from waste used in the office tower.

Mr Carolan said Grocon hoped Legion House would become the benchmark of how office buildings can become zero carbon without any disruptions or cost to their operations.

“Grocon is at the forefront of sustainability, having achieved zero carbon status at the Pixel building in Melbourne, and we believe 161 Castlereagh St and Legion House will lead the property industry in sustainable developments,” he said.

“We hope they will open the way for Grocon’s next major development project in NSW.”

Grocon’s agents CBRE and Cook Wish Ellison are in discussions with a range of potential large and small tenants for the remaining five floors, covering more than 8,000 square metres at the top of the tower, as well as potential retail tenants.

James Patterson of CBRE said: “With a 6 Green Star rating, the building will bring to life the midtown precinct and meet the council’s desire to have a public piazza in the middle of the city”.

Leasing rates in the office tower start from $1,000 a square metre and spaces are available from 215 square metres to whole floors of 1,625 square metres.

For Further Information Call:

Tim Allerton
City PR
(02) 9267 4511

Jane Wilson
0407 831 456