The NSW Government has awarded a $380 million contract to build Sydney’s first integrated metro station development at Martin Place as part of the Sydney Metro project.
The government awarded the construction deal to Macquarie Group on September 12.
The $378.6 million deal is expected to transform Martin Place into a modern railway station incorporating the existing station and the new Sydney Metro platforms, with a landmark integrated transport development above it.
Under the deal, the government is getting $355 million from Macquarie for the air rights above the new metro station.
In return, Macquarie will deliver new commercial buildings, pedestrian connections and retail space.
The metro station will be owned by the NSW Government.
The state said Macquarie’s unsolicited proposal for the integrated station development was evaluated and found to provide a unique positive outcome for the state.
Macquarie has appointed Lendlease as its design and construction contractor to deliver the new station, retail space, pedestrian connections and the buildings above the station.
“Sydney Metro tunnel builders John Holland CPB Ghella will excavate the southern site of the station and the twin metro tunnels before handing over to Lendlease to finish construction of the station,” the State Government said.
“Lendlease will be granted early access to the northern site to undertake demolition and excavation work later this year, before station and building construction starts.
“As the new Martin Place Station is built underground, the integrated station development will be able to be built above at the same time. This helps reduce community impacts, and allows for the buildings to be completed close to when Sydney Metro services start in 2024.”
Martin Place is one of five new stations planned to be integrated with the areas around them, under the second Sydney Metro stage, Sydney Metro City & Southwest.
Other stations with planning underway are Crows Nest, Victoria Cross in North Sydney, Pitt Street and Waterloo.