Toga have now joined into the Unsolicited Proposal process kicked off by Dexus and Frasers for the redevelopment of the Western Gateway Precinct near Central Station, Sydney.
The Western Gateway sub-precinct is part of the Central Precinct Renewal Program which has been identified as a transformational project in Sydney’s southern CBD. It will be at the heart of the Sydney Innovation and Technology Precinct which is an emerging precinct containing knowledge intensive, creative and start-up industries.
Dexus and Frasers are seeking to redevelop their property on Block B at 14-30 Lee Street and now Toga are seeking to include Block C into the same process.
The Dexus / Fraser JV is hoping to deliver a dynamic civic space and workplace comprising:
- Two commercial towers comprising 46,000m2 and 42,000m2 located above the podium with floorplates of approximately 2,000m2 and 1,850m2 GFA
- 61,500m2 GFA of commercial office space located within the podium which in turn will provide flexibility and campus style / large floorplates of approximately 6,200m2 GFA
- A retail offering of approximately 5,500m2 GFA, including food and beverage, which will be accessible from lower and upper ground levels
- Three levels of basement car parking which will include an Integrated Distribution Facility providing a service vehicle, loading dock and distribution area for all stakeholders within the Western Gateway sub-precinct as well as the potential future Central OSD
- Podium and tower rooftops designed for passive activation and gatherings for occupants of the Project to utilise and appreciate the views of the city and harbour
- Redeveloped public space and stairs from Block B to the potential future OSD providing an eastwest pedestrian connection to and from the Western Gateway sub-precinct
- Integration with a redeveloped Henry Deane Plaza to accommodate the increased pedestrian movement from existing and future pedestrian connections to various modes of transport
Toga owns the leasehold interest in the Adina Hotel and Henry Plaza on Block C and has proposed to redevelop the sites into a commercial/retail development including approximately 250 hotel rooms together with conference and meeting facilities and to convert its current long term ground leases over the TOGA sites to freehold title (to match proposal by Dexus / Frasers). The Government has now accepted that Toga's proposal is sufficient to warrant further investigation.
The NSW Department of Planning, Industry and Environment (DPIE) are considering amendments to the planning controls within the Sydney Local Environmental Plan 2012 (SLEP 2012), as they apply to the Western Gateway sub-precinct.
Dexus and Frasers lodged submissions with the Department in October 2019.
Dexus, Frasers and now Toga are awaiting further responses from the Unsolicited Proposal Assessment Panels and from the Department of Planning before being able to lodge further plans.
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