New South Wales has awarded a $476 million contract to deliver a new Sydney Metro railway station and the building above it at Victoria Cross, in North Sydney.
Lendlease was awarded the contract to build the new station building just before Christmas.
Victoria Cross, roughly 500 metres from the existing North Sydney station on the Sydney Trains network, is one of the new stations being built as part of the Sydney Metro City & Southwest project.
Transport minister Andrew Constance said the project would transform the local area.
“The new Victoria Cross metro station will be a landmark in the heart of North Sydney, giving customers more and easier public transport options as part of our plan to improve transport,” he said.
As part of a value capture component in the $476 million deal, the NSW Government will receive over $200 million for Lendlease to build a 40-storey building above the station’s southern entrance portal, and for the retail spaces delivered as part of the station.
The state may also receive a share of any uplift in the value of commercial and retail buildings, it said.
“The new integrated station development will help shape North Sydney’s future, adding to the vibrancy of the area,” Constance continued.
“New employment and retail opportunities, improved pedestrian connections and high quality outdoor spaces will add to a growing commercial and residential precinct.”
Construction of the underground station will be split across two sites: a southern shaft will be excavated to provide for the excavation of the station cavern, to provide the future station entry. A second shaft will be excavated to the north, as a future service facility, and for material facility during construction.
“As the new Victoria Cross station is largely built underground, the integrated station development can be built at the same time, minimising disruption to the community,” Constance concluded.