Green light for George Street retail revival
Shopping in the Martin Place precinct is set to change with ISPT gaining approval for the major redevelopment and revitalisation of its adjacent buildings at 345 and 363 George Street, and 24 York Street, to create a new precinct with a major centralised lobby and new luxury high-street retail destination in the heart of Sydney’s CBD.
The City of Sydney Council approval gives the green light to one of the city’s most important retail projects in recent times. New luxury flagship retail will interface with George Street and bookend Martin Place at a time when more and more international retailers are intensifying their search for a Sydney presence.
The circa $75-million redevelopment, encompassing the office towers at 345 and 363 George Street as well as the heritage-listed 24 York Street, will also incorporate new facades, entries and awnings to enhance George Street’s evolving pedestrian experience and light rail transformation.
The project will take centre stage in the luxury retail precinct emerging on George Street, with retailers set to take advantage of the major increase in pedestrian thoroughfare.SCN