Not for release or distribution in the US
AMP Capital has received Stage 2 Development Application (DA) approval to refurbish Sydney’s first skyscraper, 33 Alfred Street, Circular Quay, from the City of Sydney.
Built in 1962, 33 Alfred Street has local heritage listing and is an iconic part of Sydney’s harbour skyline.
The work, which is currently due to start in 2021, will include refreshing the building’s façade as well as modernising its services and interior while maintaining its heritage characteristics and reinstating lost building features.
Once complete, the building will be premium grade, with improved environmental performance. 33 Alfred Street is targeting a 5 Star NABERS rating and a 5 Star Green Star v3 rating.
AMP Capital Real Estate Chief Operating Officer Louise Mason said: “We are delighted to have received approval for the redevelopment of 33 Alfred Street from the City of Sydney, who we have consulted with on this project for more than two years. After 55 years, it’s time to upgrade the building and give it new life for many more decades of service.
“This work will make 33 Alfred Street one of Sydney’s most highly sought-after, premium-grade office buildings. However, it will still be recognisable as one of the most loved and distinctive buildings at Circular Quay, the gateway to Sydney. We are committed to sensitively and sustainably renewing 33 Alfred Street for the benefit of its investors, future tenants and the local community.”
AMP Capital has been advised by architect JPW.
33 Alfred Street is jointly owned by investors in the AMP Capital Diversified Property Fund and the AMP Capital Wholesale Office Fund.
While every care has been taken in the preparation of this article, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) and AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455) (AMP Capital) makes no representations or warranties as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. This article has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this article, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This article is solely for the use of the party to whom it is provided and must not be provided to any other person or entity without the express written consent of AMP Capital.