Dexus plans a mixed-use transformation of the MLC Centre
24 June 2019
Dexus plans a mixed-use transformation of the MLC Centre, Sydney
Dexus has
commenced construction on a development that will transform the
MLC
Centre precinct into a vibrant community offering retail, dining,
cultural and commercial spaces in the heart of the
Sydney CBD.
The circa $170 million project will deliver approximately 6,000 square
metres of new and improved retail space across four levels and is
supported by the existing office
tower. The new investment follows the
recent tower
façade revitalisation project that ensured the building
remains a landmark for decades to come.
The new retail offering will include:
-
New luxury and premium retail to Castlereagh and King Streets
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A new plaza food and beverage precinct fronting onto Martin Place and a mix of retail and service providers within the building core
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A new commercial tower entrance will be established from Castlereagh Street, improving connectivity for workers and visitors
The
redevelopment also includes
plans to revive the Theatre Royal with Dexus entering into a 45-year
lease with the
NSW Government, paving the way for a private theatre
operator to run the theatre.
Dexus CEO, Darren Steinberg said: “We value the contribution from the
NSW State Government to assist in reopening the theatre which will
improve the amenity in the
precinct and add to Sydney’s night time
economy.”
Dexus Head of City Retail Development Amanda Pieriboni added: “The MLC
Centre has proudly been part of the Sydney landscape since 1978 and this
planned transformation will cement the location as a true mixed-use
destination.”
Regenerating a Sydney landmark
The MLC Centre showcases a proud history with the building being a key
city landmark since 1978. Architect,
Harry Seidler brought a sense of
style and sophistication, beauty and refinement to his work. He
understood the importance of providing spaces that bring the community
together to connect and socialise.
The next evolution of the MLC Centre will build on Harry Seidler’s
design principles and plays on the geometry of the existing forms around
the base of the tower to deliver a unique experience and revitalised
public spaces.
Harry Seidler and Associates Director Penelope Seidler said: “I am so
excited about the design of the new works proposed for the MLC Centre.
The integrity of Harry’s original architecture is to be re-established
and contrasted with new geometries of internally illuminated glass. The
MLC Centre will become the glowing core of the centre of Sydney.”
MLC Centre is jointly owned by Dexus and Dexus Wholesale Property Fund
(DWPF) and the building is managed by Dexus. The project partners
include
Probuild (Builder),
Woods Bagot (Architect) and Harry Seidler
and Associates (peer review).
Throughout the development works the existing MLC Centre car park, food
court, IGA Supermarket and several other retailers will remain open and
in operation.
The redevelopment of the MLC Centre retail precinct is expected to be
completed by the end of 2021.
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Source: Dexus - www.dexus.com
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