Dexus & Frasers Progress $2.5 billion Central Place Sydney

Recently announced, Dexus and Frasers Property Australia (the partnership) have progressed their proposal to revitalise Central and deliver a world class tech precinct for Sydney. The partnership’s proposal is for a circa $2.5 billion investment that will transform the western edge of Central Station. The project will be Sydney’s most significant CBD development in more than a decade, providing employment space critical to the state’s economic recovery.

Central Place Sydney would transform Central into a lively retail and dining precinct. This includes the establishment of a vibrant evening economy with local dining options for workers, students, residents and visitors.

The partnership have achieved approval for their Central Place Sydney proposal to move to Stage 3 under the NSW Government’s Unsolicited Proposal (USP) process.

Dexus CEO, Darren Steinberg said:

“This project will firmly establish Central as one of the most distinctive and lively places to work or visit in Australia and is set to rejuvenate Central as one of the key gateways to the Sydney CBD.”

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Image & body copy curtesy of SCN