Cromwell Property Group and joint venture partner BlackRock Real Estate have more than doubled the height of a proposed mixed-use commercial building at Chatswood’s Central Plaza.
An amended development application is for an 11-level structure with 6500 square metres of office space and 4.5-star, 156 suite hotel.
The tower would sit between twin 14-storey ones which contain a total lettable area of 22,000 sqm.
It also replaces a permitted five-floor project which would have contained about 3148 sqm of commercial workplace but the same number of guesthouse rooms.
Proposed building to sit between twin office towers
The estimated cost of the 11-level office and hotel is $123m– nearly $50m more than last year’s proposal.
Cromwell head of property, Bobby Binning, said the revised development application “builds upon our original concept and includes a third office tower, plaza and amenity improvements to the common areas with the addition of new green space and dining options”.
The executive added COVID-19 has its impact on people’s work travels, has resulted in a think of a modern office (story continues below).
“The subsequent redesign of the end-of-trip facilities, HVAC system and office foyers have been based around key sustainability and hygiene considerations,” he said.
“From a sustainability rating perspective, we are targeting a minimum 5-Star Green Star rating, a 5-Star NABERS Energy and 5-Star NABERS Water rating.
“The improvements are designed to benefit existing and future tenants, and will be complemented by the planned Chatswood to Sydenham Metro Rail expansion due in 2024”.
Cromwell acquired Central Plaza, on a 6030 sqm rectangle shaped block at 475 Victoria Avenue, in 2006.
Last year it sold a half share to BlackRock for $120m.
Chatswood is about 10 kilometres north west of Sydney.