Citta Property Group has secured the right to develop the last remaining site (Site 6) in the coveted Darling Island precinct in Pyrmont.
After a hotly contested tender process The Sydney Harbour Foreshore Authority announced in early November 2006 that the Citta Property Group was the successful bidder for the development of the Pirrama Road gateway site.
Citta’s ability to demonstrate how a six star rating would be achieved while maintaining superior returns were central to securing the opportunity. The building will be the very first 6 Star Green Star building in NSW, and only the third in Australia setting a new benchmark for green-design.
The new building, being constructed by Buildcorp, will represent the next stage of development for this growing Pyrmont precinct. The waterfront site will house a 6 level office building of approximately 18,000m2, the building is designed to achieve a 6 Star Green Star rating and a 5 star plus 20% AGBR (Australian Greenhouse Building Rating). The building is made up of five commercial office levels, with floor plates of up to 3,500m2, a ground floor office and retail space and a single level basement level with parking for 135 cars. The combination of these features and the building’s close proximity to the Sydney CBD is expected to be attractive to a range of tenants.
The completed building has been presold to The GPT Group. The acquisition by GPT is consistent with the Group’s strategy to grow its pipeline in the office sector. GPT are in negotiations with prospectivve tenants to pre-commit to leasing the building.
Construction has commenced and are to be complete in the last quarter of 2008. |
