#Australia #Sydney #Sydney Project #Lendlease #175 Liverpool Street

The Vision Behind the 175 Liverpool Street Project

In an industrious move to reshape the skyline of downtown Sydney, Japan's Nippon Steel Kowa Real Estate Co., led by President Masahiro Miwa, has announced its participation in the monumental 175 Liverpool Street project. This venture aims to deliver a residential-centric mixed-use development featuring as many as 300 housing units, projected to complete in 2031, with a total anticipated revenue of around AUD 2.5 billion (approximately JPY 240 billion).

Collaborating once again with Lendlease, one of Australia's premier property developers, this milestone continues from their recent partnership on the rental residential project at 899 Collins Street in Melbourne, which commenced in October 2024.

Project Highlights

• - Massive Scale: This ambitious project boasts an expected revenue of AUD 2.5 billion.
• - Redevelopment Initiative: It involves the transformation of an existing office building into two high-rise residential towers.
• - Prime Location: Situated in Sydney's Central Business District (CBD), the site offers breathtaking views of the iconic Sydney Opera House and Hyde Park, the oldest park in Australia.

The Need for Housing Development in Australia

As Australia witnesses sustained economic growth and an increasing population, the demand for housing is predicted to continue rising. Urban areas are struggling with a significant shortage in housing supply, exacerbated by a population boom, which enhances the need for a broader real estate market and sustainable growth in cities.

In alignment with their core philosophy of “Facing People, Building Cities,” Nippon Steel Kowa Real Estate aspires to leverage its extensive knowledge and expertise in residential and high-end rental housing development cultivated in Japan to contribute actively to Australia's cities' evolution and advancement.

Project Specifics

The 175 Liverpool Street initiative sits on a 37,000 square-meter plot in the southern region of Sydney's CBD. This strategic location is effortlessly accessible, being only a one-minute walk from the Museum train station, which accommodates multiple lines including T3 and T8. Additionally, existing bus, metro, and light rail stations are within a mere 10-minute walk, enhancing its appeal with excellent transport connectivity.

Along with its proximity to Hyde Park and the culturally vibrant Surry Hills, known for its bustling cafes, restaurants, and galleries, the project is perfectly positioned as a confluence of urban life and cultural richness.

The plan includes the development of two tower residences, standing at 37 and 35 stories with a mix of 1-bedroom to 4-bedroom apartments, totaling up to 300 residential units. There are also plans to allocate roughly 2,000 square meters for office and retail space on the lower levels, fostering a lively environment for residents and local businesses alike.

Collaboratively advancing this project, Nippon Steel Kowa Real Estate, Lendlease, and Mitsubishi Estate Co. will each hold shares in the venture: 16.6% for Nippon Steel Kowa, 33.3% for Mitsubishi, and a majority share of 50.1% for Lendlease. Construction is slated to begin in 2029, with project completion expected by 2031.

Anticipated Outcome and Future Directions

This endeavor not only signifies a substantial investment in Sydney's future but also stands as a testament to international collaboration in the real estate sector. By creatively addressing the urgent housing needs and enhancing urban infrastructure, the 175 Liverpool Street project aims to cultivate a vibrant community and stimulate further economic development.

In conclusion, the 175 Liverpool Street project represents an optimistic step towards a more integrated, sustainable urban future in Sydney. As cities worldwide grapple with housing shortages and urban population growth, exemplary developments like this could serve as key models for future projects.

Additional Information

• - Address: 175 Liverpool Street, Sydney
• - Area: Approximately 3,797 square meters
• - Total Floor Area: Approximately 43,230 square meters
• - Project Partners: Lendlease (50.1%), Mitsubishi Estate (33.3%), Nippon Steel Kowa Real Estate (16.6%)
• - Use: Mixed-use, including residential, office, and commercial space
• - Design: Bates Smart
• - Total Units: Up to 300 residential units
• - Height: 37 and 35 stories tall
• - Expected Commencement: 2029 / Completion: 2031