Landmark site to be transformed into residential community

The current and centrally-located site of Nine Entertainment’s headquarters in Sydney will soon become home to a new residential project developed by Mirvac.

Entering into an agreement with LEPC9, a joint venture between Lotus Property Fund and Hong Kong-based fund manager Euro Properties, Mirvac will take over a redevelopment project on the highly-sought after site.

GALLERY  

If the concept plan is approved, the $249 million project will include 6000 square metres of public open space and the construction of 460 new residential dwellings and commercial spaces across a number of buildings, up to 8 storeys.

Premium residences within a collection of high-quality boutique buildings and complementary retail establishments, alongside upgraded connections will feature in the development.

“Close to all the rich amenity and social infrastructure of Sydney’s lower north shore, and offering direct access to the Sydney CBD, the site has the exciting potential to offer our customers all of the convenience of this desirable location with the high-quality built form outcomes that Mirvac is well recognised for,” says Stuart Penklis, head of residential for Mirvac.

“The site was first occupied by the Nine Network in the 1950’s and has played a significant role in shaping Australian culture for more than 60 years.

“Our vision is to celebrate this unique history and set a new benchmark in design excellence and integrated community living to create a legacy that can be enjoyed by all.”

Lotus Property managing director Michael Jiang says the joint venture team’s goal for the site was to work with the highest calibre at Sydney-based design firm CHROFI to conceive what they believed to be the best design outcome for the site, delivering as much added value as possible.

“We are very satisfied with what we have achieved and are pleased with the final outcome,” says Jiang.

An agreement regarding the adjacent TX Australia property is also in the works, with plans for the site to include demolishing the TX transmission tower in order to find a new purpose to fit the established urban context.

Images CHROFI via Business News Australia

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