Fairfax Family Proposes Redevelopment of Sydney CBD Office Site

THE Fairfax family plans to demolish a 14-level office in Sydney’s CBD, and replace it with a 32-storey building which would have an end value of about $86 million.

The mixed use project, which would soar 121 metres at its highest, will rise from Pitt Street and include a six level office component, shops and a residential tower.

Fairfax paid $30 million for the approximate 40 year old building, in 1989, according to the AFR.

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