Lend Lease win Victoria Cross Station Development Rights
Lendlease has won a $476 million contract to deliver a new metro railway station in North Sydney and the office building above it.
The Victoria Cross Station will be a landmark in the heart of North Sydney’s business district and will include retail spaces and office space across 40 floors that likely be worth close to $1 billion upon completion.
The concept stage of the application proposes a maximum building height of 168 metres, or approximately 42 storeys, with a maximum gross floor area of 60,000 square metres.
Following the original Metro announcement and a revision to the North Sydney LEP, several new office development projects are already under construction in North Sydney with various levels of pre‐commitment including 100 Mount Street (41,500sqm), 1 Denison Street (61,000sqm), and 118 Mount Street (23,500sqm) currently underway.
The pre‐commitment market remains active with pre‐leasing commitments from NBN Co (20,000sqm), Laing O’Rourke (4,900 sqm) and Nine Entertainment (15,500 sqm). Tenant activity is expected to increase over the next 24 months, with a number of large tenant enquiries in the market including Nokia (5,000 sqm), IBM (7,000 sqm) and Optus (60,000 sqm).