The city of Sydney Council has acquired the next building on George street for $61.7m as it finalises its plans to build a new Town Hall Square.
Â
Council have previously permitted leases in the buildings bounded by Pitt, Park and George Street to be extended to 2021, the earliest date for potential demolition works.
Â
The addition of 546 George Street finalises the acquisition plans for the block. In 2016, the Council acquired 303 Pitt Street for $43m. The Council already owns the Woolworths building, the Hotel Coronation on Park Street, Park House, 307 Pitt Street and most of the strata in 309 Pitt Street.
Â
The City of Sydney wants the square to rival other global cities