Brookfield Place Sydney reaches new heights

Brookfield’s $2 billion Wynyard project tops out and joins a distinguished group of global destinations

Brookfield Properties today marked a significant milestone in its delivery of the $2 billion office and retail development connecting  Wynyard Station to George Street, by celebrating the topping out of the new 34 level tower structure and the renaming of the former Wynyard Place project to become Brookfield Place Sydney.

Brookfield Place is the premium brandmark awarded by Brookfield to a select group of best-in-class, large commercial property precincts globally that deliver on a strict range of criteria including outstanding transport connections, state-of-the-art building systems, premium workspaces, high-level retail amenity, leading sustainability credentials, 24/7 security, amenities for wellness and curated placemaking activities. Just five other Brookfield Places exist in the world with sister assets located in New York, Toronto, Calgary, Dubai and Perth.

Sophie Fallman, Brookfield Asset Management Managing Partner and Head of the Australian Real Estate business for Brookfield, said: “We are delighted that this asset will join the prestigious family of global Brookfield Place destinations and deliver for Sydney a destination that excites and attracts people from all parts of the city to the precinct.

“A Brookfield Place is a new kind of urban centre that sets benchmarks in its location for commercial property assets. It uses world-class planning and design to transform expansive, underutilised areas within the most important cities of the 21st century. It puts surrounding precincts on the map by creating a uniquely welcoming environment that re-centres the surrounding neighbourhood. Brookfield Place Sydney has achieved this designation because of the uncompromising quality of the development and its restoration of the Wynyard Precinct to its rightful place as the heart of the Sydney CBD.

“On completion in 2021, we will provide Premium accommodation for a range of tenants, including NAB, Allianz and Brookfield’s new Asia Pacific headquarters, while delivering Sydneysiders an exciting new retail and commercial precinct, an upgraded Wynyard Station arrival experience, and an annual program of arts and cultural activities in keeping with Brookfield’s global commitment to placemaking.

“Today we celebrate the work of our building partner, Multiplex, and our development team at Brookfield Properties. Together, and with the assistance of NSW Transport, they have achieved an extraordinary feat of building a structure that’s now 134 metres above a brand new Transit Hall that will connect George Street through to a live underground commuter rail station where over 150,000 commuters will pass through each day.”

Carl Schibrowski, Executive Vice President and Co-Head of Brookfield Properties, responsible for the development, said: “We have leveraged our global and local expertise to re-imagine what was possible at Wynyard,  via an agreement with the NSW State Government struck under the Unsolicited Approval Process to fund design, deliver and maintain the new Wynyard Transit Hall, and convert the old Wynyard leasehold interests to stratum freehold title, as well as merge our new development with the heritage conservation of the historic Shell House and 285 George Street to create new public infrastructure and Premium accommodation for our tenants.

Mr Schibrowski said key achievements to date included:

  • Achieving Design Excellence under a State Significant Development consent process
  • The suspension of the office lift core 18 metres above the new Transit Hall
  • Structurally retaining and restoring one of the tallest heritage facades in the world of its type
  • the mid-air suspension of the 400 tonne Shell House masonry heritage clock tower for the duration of the Shell House internal demolition, retention, excavation and rebuild
  • the creation of over 3000 jobs during construction (to date, more than 6.2 million man-hours have been worked, representing 166 trades and 443 subcontractors)
  • securing a 6 Star Green Star – Office Design v3 rating, which is considered world-leading

As we have proven through the success of our leasing program, where 81% of office space has been pre-leased, this is a property that appeals to  forward-looking organisations who wish to provide expansive, state-of-the-art workspaces, diverse retail and 24/7 amenities for their employees.

On completion Brookfield Place Sydney will be owned by interests associated with Brookfield, AMP Capital, UniSuper and an AMP Capital private mandate.

Brookfield Place Sydney

Designed in collaboration by Make Architects and Architectus, Brookfield Place Sydney will transform Wynyard into a world-class urban precinct in the heart of Sydney’s CBD.

The project’s centrepiece is a 27 occupiable level PCA Premium Grade commercial tower (10 Carrington Street) with a total net lettable area of 59,000 sqm, offering world-class facilities, amenities and finishes to set a new standard in workplace design.

The development includes the restoration of Shell House and 285 George Street, breathing new life into an historic Sydney landmark. In addition, ~7,000 sqm of high-end retail, a revitalised Wynyard Lane and a major upgrade to Wynyard Station’s George Street entrance has occurred, connecting to a grand transit hall and public concourse.

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Media Contact: Mathew Chandler | Vice President Marketing and Communications | +61 456 404 266 | mathew.chandler@brookfieldproperties.com

About Brookfield Asset Management

Brookfield Asset Management Inc. is a leading global alternative asset manager with over $500 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. Brookfield owns and operates long-life assets and businesses, many of which form the backbone of the global economy. Utilising its global reach, access to large-scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world—including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. Brookfield Asset Management is listed on the New York and Toronto stock exchanges under the symbol BAM and BAM.A respectively. For more information, please visit our website at www.brookfield.com.

About Brookfield Properties

Brookfield Properties is a fully-integrated, global real estate services company that provides industry-leading portfolio management and development capabilities across the real estate investment strategies of Brookfield Asset Management — a global alternative asset manager with over $500 billion in AUM.

Brookfield Properties develops and manages premier real estate with a focus on maximising the tenant experience in addition to the investment and operational performance of the asset. We also focus on integrating leading-edge real estate technologies which enable us to be at the forefront of innovation and sustainability – benefiting not only our tenants, residents and business partners but also the communities in which we operate.

For more information about our approach to operating and developing best-in-class real estate, please visit brookfieldproperties.com.

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