Billbergia, Metrics swoop on permit-ready CBD site
A joint venture between Billbergia Group and Metrics Credit Partners has snapped up a prime CBD mixed use development site.
The 5914 sqm block – a consolidation of eight lots – is costing c$500 million from Hans Holding Group.
Two 80 level towers are planned (artist’s impression, top) with a total c592 apartments and a 158-key hotel over a multi-storey retail podium.
Upon completion, the buildings will be amongst Sydney’s tallest.
They will form Billbergia’s first Sydney CBD project; elsewhere in the city, it is behind a 50 floor mixed use office based development, 88 Walker Street, North Sydney, also delivered with Metrics, and high density residential communities at Wentworth Point and Rhodes.
Site set for $3b development
Hans Holdings spend eight years amalgamating the Sydney CBD parcels: 324-330, 332-336 and 338-348 Pitt Street and 126 Liverpool – known in industry circles simply as 338 Pitt.
The vendor also obtained the redevelopment permit; penned Fjcstudio and Trias Studios following a design competition in 2018, the complex also features skybridges on levels 36 and 38 (story continues below).
“Pedestrian access to the precinct will be enhanced via new laneways connecting Pitt, Liverpool and Castlereagh streets,” a spokesperson for the buyer, a joint venture known as, Central Sydney Property Pty Ltd, said.
“The laneways will lead to a new civic square, set to breathe new life into the precinct with outdoor seating, landscaping and integrated public art,” they added.
“Metrics Credit Partners and Billbergia will leverage their joint venture expertise in asset management and property development to deliver the landmark project.
“Our vision will transform this underutilised city block into a cutting-edge urban community with luxury residences supported by premium amenity, quality public domain and active placemaking”.
The end value is expected to circle $3 billion.
Home789’s Walton Chu was the agent.
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