Stockland prepares Piccadilly Plans

25 June 2021

The City of Sydney has agreed to advance Stockland’s plans for one of Sydney’s largest commercial developments with the planning proposal for the new plans for the Piccadilly Centre going on exhibition.

Stockland’s $1.5bn development plans for the site at 133 Castlereagh St include a commercial tower above a 3-10 storey podium. The roof top will follow the solar access pane to provide sunlight into to Hyde Park.

The site is currently owned by Wesley Mission, who currently occupy part of the Ground and basement levels, and who will remain part of the proposed development.

The development will provide approximately 103,000sqm of commercial office space, which is 47,000sqm more than the existing Piccadilly complex floor space which is spread over 2 towers.

A publicly accessible through-site link will continue to be available connecting Castlereagh and Pitt Street with a revamped retail offer. The two pedestrian skybridges which connect Piccadilly to the old Monorail station in Pitt Street and the Sheraton Hotel in Castlereagh Street are to be removed under the new proposal, along with the parallel basement vehicle ramps in Castlereagh Street.

Stockland are also proposed an ecologically sustainable development which is equal or better than those achieved in recent city development proposals. These include commitments to deliver a minimum 6 star Green Star design and construct rating, a minimum 5.5 NABERS Energy rating and minimum 4 NABERS Water rating.

Stockland will be required to pay the standard community infrastructure contributions of $23m (equal to 3% of the costs) and have also offered Council monetary contribution towards the provision of affordable housing if the development application is determined prior to June 2022 which is consistent with the City’s Guideline for Site Specific Planning Proposals.

The proposal forms a number of major developments being advanced by Stockland in Sydney at present. Other projects include M-Park in Waterloo Rd, Macquarie Park and 100 Walker Street North Sydney.

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