NSW Govt reveals $2.5bn plan for Sydney's tech hub

The transformation of Railway Square in Sydney has begun, with the NSW Government rezoning the first parcel of land. Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres unveiled a $2.5 billion Central Place development by Dexus-Frasers, which will form a key part of the rezoned precinct.

Located alongside the new Atlassian headquarters, Ayres predicts that Central Place will deliver over 150,000 m² of commercial floor space for technology and innovation companies, supporting more than 700 jobs in construction and 10,000 jobs once complete.

“It will help cement innovation and technology as key drivers of growth, contributing to secure job creation across all industries,” said Ayres.

The development supports the NSW Government’s broader vision for the area by unlocking 24 hectares of government land, to create an exciting new place with enhanced open spaces and business by expanding Sydney’s southern central business district.

“This is an important piece of the puzzle to transform the area through uniting a world-class transport interchange with innovative and diverse businesses and high-quality public spaces,” said Andrew Constance, Minister for Transport and Roads.

Dexus and Frasers Property Australia have appointed Fender Katsalidis and Skidmore, Owings & Merrill as the architects for the Central Place Sydney development. Their design was selected following the first City of Sydney design competition run online, with participants from over six countries. Dexus CEO Darren Steinberg said the design comprises two office towers of up to 39 levels and a sculptural building, with 100% renewable energy and a range of building initiatives, including touchless entry points and potential for a closed cavity facade system powered by artificial intelligence and solar glass.

“The future of work and workplaces will be defined by the technology and innovation businesses who will occupy this precinct, with Central Place Sydney set to become a leading innovative workplace and a global exemplar of city centre regeneration,” said Steinberg.

The announcement follows the NSW Government’s commitment of $48.2 million in funding to deliver up to 25,000 m² of affordable space for start-ups and scale-ups over the next four years. Central Place is currently in Stage 3 of the NSW Government’s Unsolicited Proposals process.

Image credit: Sandra Sopin (Dexus Property Enterprise).