Grimshaw

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Macquarie Bank has finalised negotiations with the NSW Government for air rights above a new Metro station at Martin Place, clearing the way for the bank’s ambitious commercial proposal over the station to proceed. The proposal was previously approved as part of the Department of Premier &amp; Cabinet’s unsolicited proposals process but required the negotiation of these air rights.

The agreement marks a new era in the delivery of mass transit infrastructure in Sydney, demonstrating a form of value capture. It also puts on show the focus of Sydney Metro Corporation in strategically matching new metro stations with the leveraging of land use potential. This is part of a broader trend in Sydney and other global cities; London’s Crossrail project - a suburban-rail, rapid-transit line which alleviates constraints on the Tube Metro network - employs a similar commercial arrangement to construct some of its new city centre stations, most prominently at the financial district at Canary Wharf. 

Macquarie Bank has agreed to pay $355 million for the Martin Place station air rights and will proceed to build the metro station and two commercial towers, in partnership with Lend Lease.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/buildings_cut_thru_-_metro_martin_place.png" rel="gallery-all" title="A section diagram of the proposed integrated development. "><img alt="" class="image-article-full-width-580px" height="466" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/buildings_cut_thru_-_metro_martin_place.png?itok=R_I01QPf" title="A section diagram of the proposed integrated development. " width="580"></a>

<figcaption>A section of the proposed integrated development showing the complexity of the site. Source: Metro Martin Place</figcaption></figure>The distinctive northern tower design responds to the challenges of protecting sunlight access to Martin Place - in fact, both towers are fully compliant with City of Sydney solar access planes which protect sunlight access to Martin Place and Hyde Park.

The north tower is approximately 170 metres tall (38 floors) with almost 80,000 sqm of premium office space. The smaller south tower, amended to provide commercially viable floor plates of 1,100 sqm, offers 39,000 sqm of premium grade office space over 28 floors. 

As a result of the deal, the Government will foot little of the $378 million cost to build the new station and its associated connecting passages.

The new station is being compared in style to New York’s WTC and Hong Kong’s IFC stations; the station will become part of a new retail and social precinct that is envisioned to be an embedded, seamless part of its locality.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/atrium_look_down_-_source_macquarie_bank.png" rel="gallery-all" title=" Macquarie Bank"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/atrium_look_down_-_source_macquarie_bank.png?itok=nMrSXMJ5" title=" Macquarie Bank" width="580"></a>

<figcaption>The sunlight-filled atrium below the north tower, providing access to the station concourses and platforms. Source: Macquarie Bank</figcaption></figure> ​​​​​The scale of the precinct is impressive, and it should be noted the level of attention afforded to the quality, legibility and experience of the pedestrian environments, both in the underground concourses and at street level. 

Grimshaw in partnership with Johnson Pilton Walker and Tzannes, are the architects responsible for the design of the station and its commercial and social precincts. The firms have a long experience in crafting quality human-scale environments.

The station connects to the T4 Bondi Junction &amp; Illawarra suburban station; it is likely to also connect to a new CBD station as part of the mooted West Metro line. Collectively, this anticipates a northern CBD mass transit interchange, relieving overcrowding at Central, Town Hall, and Wynyard stations.

<blockquote>
Acknowledging the special role Martin Place Metro Station will play in Sydney’s transport system, and the nature and exceptional prominence of its location, Macquarie Chief Executive Nicholas Moore affirms; “We recognise that we have been entrusted by the NSW Government to deliver this once-in-a-generation opportunity for the community. We are committed to delivering a new transport-led destination that is customer-centred, inclusive and comparable with the world’s great integrated urban precincts.” He goes on to say, “As a long-time resident [of Martin Place], Macquarie Bank understands and respects the historic, cultural and civic significance [of Martin Place].”
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/mmp-east.jpg" rel="gallery-all" title=" Macquarie Bank"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/mmp-east.jpg?itok=_BrPU7cy" title=" Macquarie Bank" width="580"></a>

<figcaption>The station will feature active street frontages, elevated terraces, and an architectural style in keeping with the heritage and grandeur of Martin Place. Source: Macquarie Bank</figcaption></figure>The development reinforces the role of the northern CBD as the financial hub of Australia and as a globally connected business precinct. The towers feature modern side-cores with large, uninterrupted floorplates ensuring flexible office design that can adapt to future needs. The proposed buildings have been awarded 6-star environmental ratings from the Green Building Council of Australia and will house workspace for 8500 people. Macquarie Bank will consolidate its operations in the northern tower, which will be connected directly with its existing heritage headquarters at 50 Martin Place. 

In the broader strategic context, this is just one - albeit prominent - example of similar projects in the pipeline; new metro stations at Victoria Cross (North Sydney), Pitt St (Town Hall), Waterloo, and Crows Nest are undergoing similar work to both embed them in their locality and leverage the transit capacity and connectivity they bring.

2500 new jobs will be created during construction and the office towers, social and retail precinct, and the station are expected to be completed shortly before Metro City &amp; South-West opens in 2024.

<a href="https://www.youtube.com/watch?v=boiuhoRrxkA">Fly-through of Martin Place Metro Station Integrated Development</a>
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ModernBradfield

Martin Place Metro Station's Integrated Development Clears Final Hurdle

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Sydney and Brisbane's respective CBD commercial markets stand to gain a boost with three office towers given the green light in recent days.

The Harbour City is in line to receive two office buildings above Martin Place railway station with Macquarie Group receiving the nod via Planning Minister Anthony Roberts to proceed to the final phase of planning. The 40 and 30 storey towers still need to clear final planning necessities and garner support in New South Wales' Cabinet, in line with the state's Unsolicited Proposals process.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image87_2.jpg" rel="gallery-all" title="Macquarie Group's Martin Place station development "><img alt="" class="image-article-full-width-580px" height="483" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image87_2.jpg?itok=XsfHWRmo" title="Macquarie Group's Martin Place station development " width="580"></a>

<figcaption>Macquarie Group's Martin Place station development</figcaption></figure>Macquarie Group's bid to deliver the two new towers began in earnest during March 2017 when the firm revealed they intended to integrate a new station and over-station development in order to "improve convenience for customers, and provide Sydney-siders and visitors with a destination in keeping with the civic, social and cultural significance of Martin Place."

On the office towers, Macquarie Group describes them as "in keeping with Martin Place’s heritage as Sydney’s financial heart and to contribute to the city’s status as a global business district. Macquarie’s proposal includes two commercial towers, the design of which has been, and will be, informed by significant buildings around the world."

A variety of buildings atop the site are currently under demolition in order to facilitate the rejuvenated station and both commercial towers. Architecture firms Grimshaw and Johnson Pilton Walker are the design forces behind the commercial components with Fosters and Partners and Architectus tasked with jointly delivering the new Martin Place railway station.

The investment banking company has indicated it will move to the Martin Place development upon its completion.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/metro-2-640.jpg" rel="gallery-all" title="Martin Place railway station in line with Macquiare Group's vision"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/metro-2-640.jpg?itok=d8M8hIAA" title="Martin Place railway station in line with Macquiare Group's vision" width="580"></a>

<figcaption>Martin Place railway station in line with Macquiare Group's vision</figcaption></figure>Ashe Morgan and DMANN Corporation have secured approval for a Fender Katsalidis-designed office tower atop Brisbane's Health and Forestry House at 147-163 Charlotte Street. A secondary frontage to 146-160 Mary Street is also included, with total site area amounting to 3,449 square metres.

At the time of the November 2017 acquisition, Ashe Morgan Principal Mendy Moss stated "the $66 million acquisition price for the portfolio is below replacement cost for the asset and we are confident of implementing a strong turnaround strategy for an asset which has been continuously occupied by the State Government for 34 years and is due for a major upgrade."

That upgrade was also set in motion last year and will culminate in a $500 million amalgamation of dual existing commercial towers and the addition of 6 new levels in order to create a sole 26 level tower set behind the historic Charlotte Street facade. A-grade office space within the project will be boosted to approximately 40,000 square metres.

With approval in hand the development partnership expect that Midtown Centre as it will be known, will be completed during 2020.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image88_6.jpg" rel="gallery-all" title="Fender Katsalidis have designed Brisbane's latest approved tower"><img alt="" class="image-article-full-width-580px" height="910" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image88_6.jpg?itok=r32MMTMK" title="Fender Katsalidis have designed Brisbane's latest approved tower" width="580"></a>

<figcaption>Fender Katsalidis have designed Brisbane's latest approved tower</figcaption></figure>
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