Contract awarded for Martin Place redevelopment

Plans for a transformation of Sydney’s Martin Place have been confirmed, with a $378.6 million construction contract awarded to deliver the new Sydney Metro railway station and a landmark integrated transport development above it.

The NSW Government has awarded Macquarie Group a $378.6 million contract to deliver the largely underground station component of the new Martin Place metro station – including new underground pedestrian connections and improvements to the public domain.

As part of the first value capture agreement on Sydney Metro, the NSW Government will receive $355 million from Macquarie Group for the air rights above the new metro station and Macquarie will deliver new commercial buildings, pedestrian connections and retail space.

Macquarie Group has appointed Lendlease as its design and construction contractor to deliver the new station, retail space, pedestrian connections and the buildings above the station.

New South Wales Minister for Transport and Infrastructure, Andrew Constance, confirmed the plans for Martin Place, saying the integrated development, coupled with the Sydney Metro in the CBD, will breathe new life into the heart of the city.

“As part of our plan to improve public transport, new metro rail will help give people more choice on how they get around Sydney,” Mr Constance said.

“With the new Martin Place Station, customers in the heart of Sydney’s CBD will have access to an unprecedented level of public transport and will be more connected than ever before.

Martin Place will be Sydney’s first integrated metro station development.

The new Metro station as part of the development will meet the same high standards as all the new city metro stations and will be owned by the NSW Government.

Customers will walk past a range of stores on their way to the train station.The modern design has been informed by New York’s World Trade Centre station and Hong Kong’s International Finance Centre.

As the new Martin Place Station is built underground, the integrated station development will be able to be built above at the same time. This helps reduce community impacts, and allows for the buildings to be completed close to when Sydney Metro services start in 2024.

The Sydney Metro City and Southwest Project cost range has been set at $11.5 billion to $12.5 billion.

Due to the massive scale of the Sydney Metro project, final individual contract values may vary due to ongoing fine-tuning and optimisation involving the other major contracts, for which tenders have yet to be received.

Sydney Metro services start in the second quarter of next year in the city’s north west, with metro rail to be extended in 2024 under Sydney Harbour, through the CBD and beyond to Bankstown.

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