$200m Cross Street redevelopment awarded in Sydney
After shortlisting three high quality proposals, the consortium to develop the $200 million mixed-use property at the Double Bay car park on Cross Street in Sydney has been announced. The Woollahra Council has chosen property developer Axiom Properties Limited, Built and Palace Cinemas to work on this redevelopment project.
The chosen consortium will demolish the existing car park to build a precinct which will feature residential apartments, retail spaces on Cross Street and Jamberoo Lane, both public and private parking, and a 10-theatre Palace cinema complex.
Design concept for the mixed-use property (source: Woollahra Municipal Council)
“This is a great opportunity to transform an unattractive, old fashioned car park into something truly spectacular for the Woollahra community and visitors to enjoy, while also boosting local employment opportunities.” – Woollhra Mayor, Toni Zeltzer
The proposal for this redevelopment will now go for public consultation. The recent appointment follows a two-year expressions of interest period run by the Woollhra Council, now allowing Axiom and Built to enter into exclusive, direct negotiations.
Watch this space for updates on this project. Subscribe to the PlantMiner newsletter today and receive industry news and project updates straight to your inbox.
Source: Business News Australia, AFR, Woollahra Municipal Council
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