Sydney developer completes $10m makeover of CBD building

One of the city’s older and most prominent office buildings is being repurposed to include a state of the art office precinct inspired by Google workspaces.

The five-level building on the corner of stokes and Sturt St, is also set to house state government offices with a heads of agreement signed to negotiate terms.

But initial plans to convert at least part of the building into specialist disability accommodation have been ditched after it was found the potential change of use would have triggered fire compliance requirements which would have made the redevelopment unviable.

The 40-year-old building with more than 5700sq m of net lettable area was previously the home of the region’s electricity authority and more recently infrastructure group AECOM.

But it has been mostly vacant in recent years and in need of a makeover.

Acquired by Sydney developer Thirdi, with the backing of Singaporean funds, in 2019, they have completed a $10m transformation, rebranding the property as Precinct 21.

Popular food and beverage cafe The Beet Bar took s prominent ground floor tenancy in 2021 and women’s fashion boutique Hazel mai also recently moved in.

Thirdi founder Luke Berry said they were well advanced in negotiation with a statutory state government body to lease 1500sq m on the ground floor and first level.

While plans for apartments as specialist disability accomodation proved unfeasible, Mr Berry said he was thrilled to have refurbished the building, including level 4 as a co-working space.

He said the project was inspired by Google workspaces with each floor boasting a modern, industrial style fit-out with an abundance of natural light and views across the city.

On Level 4, suites of between 100sq m and 479sq m are available, although the group says it has flexible floorplan options which can be customised to suit a business’s needs.

The building comes with 24/7 access, on-site basement parking, dual lifts and flat floor plans.

inquiries on the office space can be made to E-Property Consulting NQ.

Read more.