Approval given to $156m redevelopment of a heritage-listed building in Sydney

The City of Sydney has given AMP Capital approval to redevelop the heritage-listed 33 Alfred Street office tower in Circular Quay. Refurbishment works are expected to cost more than $156 million.

33 Alfred Street was built in 1962 and it is known as the country’s first skyscraper. Redevelopment works on the iconic office tower will include refreshing the façade, modernising its services and interiors – while still maintaining its heritage characteristics – as well as reinstating the building’s lost features. Street-level frontages will also be given an increased activation.

“We are delighted to have received approval for the redevelopment of 33 Alfred Street from the City of Sydney, who we have consulted with on this project for more than two years. After 55 years, it’s time to upgrade the building and give it new life for many more decades of service.

“This work will make 33 Alfred Street one of Sydney’s most highly sought-after, premium-grade office buildings. However, it will still be recognisable as one of the most loved and distinctive buildings at Circular Quay, the gateway to Sydney. We are committed to sensitively and sustainably renewing 33 Alfred Street for the benefit of its investors, future tenants and the local community,” AMP Capital Real Estate Chief Operating Officer Louise Mason said.

Refurbishment works are expected to commence in 2021.

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Source: The Urban Developer and AMP Capital