Macquarie enters into binding agreements to deliver a new, vibrant public transport precinct in Martin Place
Artist’s impression of the podium level of the new south tower (foreground) and the north tower (background)
24 September 2018
Macquarie Group: Macquarie Group (Macquarie) is
pleased to announce that it has entered into binding agreements with the
NSW Government to design and deliver a new integrated station
development in
Martin Place, creating a vibrant public precinct that
integrates a new
Sydney Metro railway
station with office space and a retail, dining
and lifestyle hub.
Under the agreements, Macquarie, together with its
design and construction contractor
Lendlease, will deliver the new underground Martin Place metro
station integrated with a retail and recreation precinct, two new office
towers and the existing Martin Place railway station which services the
Eastern Suburbs and Illawarra Line.
An integrated approach allows for unique features that would be difficult to achieve were the station to be delivered independently of the over-station development. These include easy transit for commuters between the suburban and metro railway lines, natural light down to the metro platform level and significant public concourse space, adding a sense of arrival into the CBD.
Artist’s impression of the new north and south towers, viewed aerially from George Street
The approval of Macquarie’s proposal, which was made under the
Department of Premier and Cabinet’s
Unsolicited Proposal process, means
that Macquarie is responsible for delivery of the development by 2024.
Sydney Metro has already commenced demolition and excavation work on the
site as part of the overall construction of the Sydney Metro City &
Southwest metro line, and this is independent of Macquarie’s proposal.
More than 2,500
jobs will be created during the construction phase of
the project. Macquarie and Lendlease have committed to workforce
diversity, including female and Indigenous participation and employment
of apprentices.
Macquarie Group Chief Executive Officer, Nicholas Moore, said: “We
recognise that we have been entrusted by the NSW Government to deliver
this once-in-a-generation opportunity for the community. We are
committed to delivering a new transport-led destination that is
customer-centred, inclusive and comparable with the world’s great
integrated urban precincts.
Artist’s impression of the northern station
precinct, including natural light to the platform level
“As a long-time resident, Macquarie understands and respects the
historic, cultural and civic significance of Martin Place. We are proud
to have contributed to its recent evolution through our successful
restoration and reinvigoration of the historic 50 Martin Place, which
will be integrated into the new precinct.
“Along with our project team of internationally-renowned specialists, we
look forward to working with the
NSW Government, the
City of Sydney and
Sydney Metro on delivering a major new project which will contribute to
the ongoing renewal of Martin Place.”
Martin Place is anticipated to become one of the busiest transport
interchanges in Sydney. With this in mind, the design has been informed
by the world’s leading integrated transport-based public precincts, such
as New York’s World Trade Centre station and Hong Kong’s International
Finance Centre. It has also been strongly influenced by aspects of the
City of Sydney’s 2030 plan in terms of what Sydneysiders want from their
city, including a place that respects diversity and offers vibrant
culture and entertainment.
Unique to Macquarie’s design is an all-weather pedestrian walkway
linking Martin Place and Hunter Street, with the potential to connect to
O’Connell Street. Located above the ticketed area of the railway station
and available to all members of the public, it will provide a convenient
alternative for pedestrians and will help disperse foot traffic in and
around the station. The walkway can only be provided by carefully
tunnelling under Macquarie’s heritage-listed headquarters at 50 Martin
Place.
Artist’s impression of the public plaza at the northern end of the precinct
Integral to the precinct’s design are diverse retail, dining and other
lifestyle options that will enrich and enliven Martin Place and
contribute to its ongoing reinvigoration. Active street frontages,
elevated terraces, natural light-filled atrium spaces and bike parking
facilities are pivotal to a design that is in keeping with the
streetscape along Martin Place.
Macquarie, which has supported emerging Australian artists for more than
30 years, will work with Sydney Metro to incorporate public art within
the precinct.
The two new office towers have been designed in line with the
expectations of global employers: flexible side-core floorplates that
can keep pace with evolving work practices. The design of the towers has
also been informed by Martin Place’s heritage as a commercial and civic
centre and its future as a global business district. One of the two new
towers will combine with 50 Martin Place to form a new, consolidated
global headquarters for Macquarie. By confirming that it will be an
anchor occupant, Macquarie has provided the NSW Government with
certainty and it enables early activation of the precinct.
Artist’s impression of the south tower, viewed
from Martin Place toward Castlereagh Street
The office towers have been designed to achieve the highest possible
sustainability credentials – the Green Building Council of Australia’s
Design & As Built 6 Star Green Star rating. Features will include the
capture and re-use of rain water, landscaping and greening throughout
the public spaces, implementing smart technology and maximising natural
light throughout the journey from platform level.
As previously advised, Macquarie has sought and received some of the
required planning permissions from the Department of Planning and
Environment. Macquarie commenced the planning permission process in
parallel with the USP assessment so that, were the USP to be approved,
Macquarie could commence works promptly to support the NSW Government’s
plan to open the new metro line through the city in 2024.
John Pickhaver, Co-Head of Macquarie Capital, Australia and New Zealand,
said: “We have sought community, government and stakeholder feedback
during the planning process and that input has contributed to the
evolution of the design. We welcome ongoing input throughout the
planning process and we are also committed to engaging with the
community during construction.”
--ENDS--
Source: Macquarie Group - www.macquarie.com
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