Artist Impression by Blight Rayner
A Development Application (DA) was lodged on 15 November 2024 with the City of Sydney Council to upgrade 1 Margaret Street, Sydney. This project, led by developer Quintessential, marks a significant investment in the heart of Sydney’s CBD. The redevelopment aligns with the City of Sydney’s strategy to enhance urban spaces while meeting the growing demand for modern workplaces.
In August 2023, Dexus sold the property to Quintessential for $293.1 million. Quintessential announced plans to invest $90 million into regenerating the site, with over $65 million allocated to upgrading the podium. This substantial investment reflects the commitment to revitalising the site.
Key Features of the Proposed Development
The redevelopment will significantly transform the site, enhancing both its functionality and aesthetic appeal. Key aspects of the project include:
- Demolition: The single-storey podium, ground-floor tenancies, and parts of the commercial tower between Levels 2 and 7 will be removed. Additionally, car park façades and structural components will be demolished to facilitate upgrades.
- Construction: An eight-storey podium will be added, contributing 4,199.8 m² of gross floor area (GFA). The new podium will feature food and drink tenancies, co-working spaces, and landscaped terraces.
- Landscaping: The project includes planting native species, adding a green façade, and creating three levels of outdoor terraces.
- Parking Updates: Car parking spaces will decrease from 104 to 89, while bicycle parking will increase to 30 spaces.
- Public Art: New installations will enhance the Clarence Street plaza and pedestrian through-site link.
Artist Impression by Blight Rayner
Design Excellence and Sustainability
The design, crafted by Blight Rayner Architects, integrates seamlessly with the streetscape while introducing a contemporary aesthetic. Using materials like sandstone, textured concrete, and clear glazing, the design complements nearby buildings on Kent and Clarence Streets.
Sustainability remains a core focus:
- Energy Efficiency: LED lighting, motion sensors, and advanced ventilation systems are included to exceed compliance standards.
- Sustainable Materials: Low-carbon materials and high-performance glazing will reduce energy demand significantly.
- Native Landscaping: Native plants will dominate the terraces and public areas, requiring less maintenance and water.
These initiatives highlight Quintessential’s commitment to reducing the environmental impact of the development.
Historical Significance of the Site
Built in 1981 and refurbished in 2002, 1 Margaret Street has long been a key part of Sydney’s commercial district. In August 2023, Dexus sold the property to Quintessential, who quickly initiated consultations with the City of Sydney. The design was carefully shaped through these discussions to balance modernisation with respect for the site’s heritage.
Public Benefits of the Upgrade
The project offers multiple public benefits:
- Enhanced Workspaces: Over 4,000m² of additional employment floor space will cater to modern business needs.
- Improved Public Spaces: The public realm will feature better landscaping, art, and pedestrian access.
- Sustainable Design: Energy-efficient systems and low-carbon materials align with Sydney’s sustainability vision.
Project Team
This ambitious redevelopment involves collaboration with leading industry experts:
- Developer: Quintessential
- Urban Planner: Ethos Urban
- Architects: Blight Rayner
- Landscape Architects: Land and Form
- Public Art Strategy: Creative Road
- Traffic and Parking Assessment: Transport and Traffic Planning Associates
- Acoustic Analysis: Renzo Tonin & Associates
- Sustainability Measures: LCI Consultants
- Stormwater Design: TTW
Learn More
For more details, search application number 2230258 on the City of Sydney Development Application Tracker website.
