Brookfield Place Sydney reaches Practical Completion

Brookfield Properties today announced its $2 billion Brookfield Place Sydney development – the new heart of Wynyard in the Sydney CBD – has reached Practical Completion.

Over nine years in the making, Brookfield Place has transformed the once neglected Wynyard precinct into a modernised transportation hub, with Premium Grade office facilities, multiple levels of retail and a revitalised Carrington Street.

It will soon welcome anchor tenants NAB, Allianz and Brookfield, alongside Hub Moelis Australia and a further commercial tenant to join the building later in 2021. The first retailers to open on the upper and lower concourse levels leading from George Street into Wynyard station, will commence trading in July.

Carl Schibrowski, Executive Vice President & Co-Head, Brookfield Properties, said: “The outstanding building that stands here today is testament to the design vision of our architectural partners, MAKE and Architectus, and the innovation and determination of our construction partner, Multiplex, who overcame many complexities and challenges to successfully and safely deliver Brookfield Place Sydney in the middle of a global pandemic,” said Mr Schibrowski.

“The commercial tower is now over 90% leased, our retail is over 80% committed and by working in deep collaboration with Transport for NSW, we have delivered an outstanding new arrival experience for the circa 120,000 commuters who pass through Wynyard every day. This really is proof of what can be achieved when the government and private sector work together.”

David Ghannoum, Regional Managing Director, Multiplex, said: “The delivery of Brookfield Place Sydney has been a fantastic journey for Multiplex. Working with Brookfield Properties, Transport for NSW and the anchor tenants has been a privilege and we are immensely proud of the challenges we have overcome together and the landmark buildings we have delivered. We look forward to Brookfield Place becoming a thriving precinct for Sydneysiders now and into the future.”

On completion Brookfield Place Sydney will be owned by interests associated with Brookfield, AMP Capital Wholesale Office Fund, UniSuper and other investors managed by AMP Capital.

Kylie, O’Connor, Head of Real Estate, AMP Capital, said: “The completion of Brookfield Place Sydney represents a significant milestone for this world-class precinct. Together with our partner, Brookfield, we are proud to be part of such a transformative, landmark address for Sydney that is set to deliver sustainable investment outcomes for our clients, while providing a premium workplace for our tenant customers.”

Brookfield Place is the premium brand 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. Only five other Brookfield Places exist in the world with sister assets located in New York, Toronto, Calgary, Dubai and Perth.

The development has achieved a 6 Star Green Star Design v3 rating.

The development has already been awarded the 2020 Engineering Award for Excellence for the restoration of Shell House, which involved the mid-air suspension of the building’s historic clock tower being suspended mid-air for more than 18 months and resulted in on the largest retained heritage facades in the southern hemisphere.

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