Real Estate

AMP Capital submits Stage 2 DA for Quay Quarter Tower

By AMP Capital media team

Not for release or distribution in the US

Not for release or distribution in the USAMP Capital has submitted the Stage 2 Development Application (DA) for the commercial office tower within its landmark Quay Quarter Sydney precinct in Circular Quay.

The Stage 2 DA lodgement marks another milestone for the Quay Quarter Sydney development project, the total value of which is approximately $1 billion, and provides the design for 50 Bridge Street, Sydney.

The design is the brainchild of Copenhagen-based architect 3XN, which won the Quay Quarter Sydney international design excellence competition held by AMP Capital last year.

3XN’s design approaches the tower in a different way: its dynamic, shifting shape and multi-level atria maximises views out and daylight into the office floors. The twisting shape also complements the neighbouring 33 Alfred Street building.

At the base of the tower is an urban green space available for office workers and the general public to enjoy views of the Harbour Bridge. This garden forms the roof for the two-level retail building below.

AMP Capital Managing Director Office & Industrial Louise Mason said: “The design of Quay Quarter Tower will result in a stunning new tower on the Sydney skyline that will set the benchmark in premium office towers globally.

“It will be the focal point of a development that will be an exciting new destination for Sydneysiders and visitors to the harbour city. The design of Quay Quarter Sydney is intended to enhance the social and community wellbeing of everyone who works, lives and visits the precinct and the redevelopment will provide a diverse mix of uses to create a lively and active area.

“This is one of a number of important planning and commercial milestones we are looking to achieve for our investors during the course of 2015/16. The landmark Quay Quarter Sydney project is a further demonstration of AMP Capital’s long-term commitment to Circular Quay where it built Australia’s first skyscraper and where the company has been located for more than 50 years.”

3XN Founding Partner and Creative Director Kim Herforth Neilson said: “We’ve looked at the commercial office tower at 50 Bridge Street in an entirely new way: from the inside out and the outside in. The tower is designed as a ‘vertical village’ that takes on board the ambience and social character of the street. It also reflects and maintains the connection to the nearby and world-renowned Botanic Gardens and Macquarie Place Park, with an emphasis on green space within the building.”

50 Bridge Street is jointly owned by investors in the AMP Capital Diversified Property Fund and the AMP Capital Wholesale Office Fund.

Details for the Stage 2 DA will be available when the City of Sydney Council places the DA on public exhibition on its website. Construction is earmarked to start in 2017 once the necessary approvals are secured. It will take approximately 2.5 years to complete the construction.

For more information, please visit the Quay Quarter Sydney website

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Important notes

This article has been prepared to provide general information and does not constitute 'financial advice' for the purposes of the Financial Advisors Act 2008 (Act). An individual investor should, before making any investment decisions, consider the information available in the relevant Product Disclosure Statement and seek professional advice. While every care has been taken in the preparation of this document, AMP Capital Investors (New Zealand) Limited and the AMP Group (together, 'AMP') make no guarantee that the information supplied is accurate, complete or timely and do not make any warranties or representations in respect of results gained from its use. The information is not intended to infer that current or past returns are indicative of future returns. The views expressed are those of the author and do not necessarily reflect those of AMP. These views are subject to change depending on market conditions and other factors.

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