Mirvac reshapes Sydney pipeline with $336m build-to-rent plan
Mirvac is seeking to reshape its Sydney development pipeline, lodging plans for three build-to-rent towers.
The proposal for 960A Bourke Street, Zetland, part of the Green Square project, includes 504 apartments in buildings of 14, 19 and 21 storeys.
With an end value of c$336 million, the scheme includes retail and commercial space, communal facilities and basement parking.
Sixty dwellings will be allocated for affordable housing.
The 5127 square metre site forms part of Green Square Town Centre, where Mirvac has been developing with Landcom since 2012.
Landcom buy-up
Mirvac Residential (NSW) Developments Pty Ltd paid Landcom $25.5m for 960A Bourke St in April 2023.
It was the state government agency’s last Green Square Town Centre interest.
Announced in October 2020, the property formed part of a staged buyout covering two future residential stages, about 7600 sqm of retail space and 47,500 sqm of office and other commercial space.
Landcom was responsible for planning and remediation.
Mirvac’s FY25 property compendium lists Green Square with an indicative project value of $2.591 billion, including GST, across 1865 lots.
Zetland is four kilometres south-east of the city (continues below).
Build-to-rent shift
The latest proposal, lodged by Mirvac Green Square Pty Ltd, replaces mixed-use development plans for Sites 7, 17 and 18, with three towers, of 13, 18 and 20 storeys, with a total 384 build-to-sell apartments over retail, offices and hospitality.
The replacement plan, for 504 dwellings, will contain 40,008 sqm.
The apartment mix comprises 145 studios, 175 one-bedroom, 158 two-bedroom and 26 three-bedroom dwellings.
Fender Katsalidis and Plus Studio are the architects.
Height exemption
The application seeks changes to planning controls governing building heights, floor space and affordable housing requirements.
The City of Sydney has raised objections to aspects of the changes.
The application is being assessed as a State Significant Development under the NSW planning system.
The NSW Department of Planning, Housing and Infrastructure will assess the proposal with the final decision to be made by the Planning Minister or a delegated departmental officer.
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