Heavyweights lead race to build Sydney’s Waterloo Metro Quarter
Heavyweight pairing Mirvac and John Holland are leading the race for Sydney’s next over-station development, with the pair favoured to win the Waterloo Metro Quarter project.
The companies are up against Aqualand, joined with CPB Contractors and City West Housing, and their scheme is believed to offer greater returns to the NSW government.
Although they declined to comment, the project will have about 700 apartments above the station, with components of affordable and social housing, as part of a larger precinct.
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The Metro Quarter project will be integrated with the new Waterloo Station and be another marker in the series of over-station developments in Sydney.
Site planning controls allow for a maximum height of 29 storeys, stepping down to buildings of 25 storeys and 23 storeys.
Canada’s Oxford Properties last month picked up another over-station project and it will develop a build-to-rent apartment tower and an office block above the new Pitt Street Metro station. The move will bring build-to-rent to the heart of Sydney and this could also be seen above other stations in future.
The over-station project at Central Barangaroo is also getting under way. Chinese-backed Aqualand is poised to buy out Melbourne developer Grocon.
That would allow it to complete Barangaroo with Westfield mall-owner Scentre Group.
UrbanGrowth NSW Development Corporation is working with Sydney Metro to create the Waterloo Metro Quarter — a vibrant mixed-use precinct featuring new homes, shops, community services, public plazas and the new metro station.
This article originally appeared on www.theaustralian.com.au/property.
