Herbert Smith Freehills has advised Oxford Properties (Oxford), a leading global real estate investor, developer and manager, on the Sydney Metro Pitt Street integrated station development.
The NSW Government has awarded contracts to a consortium of Oxford Properties, CPB Contractors and Grocon to deliver the new station and two new buildings above to form a vibrant new commercial and residential hub around Pitt and Bathurst Streets.
Oxford and CPB Contractors are part of a consortium assembled by Grocon. Oxford is the lead developer and equity investor for the office and build-to-rent residential buildings above the new Pitt Street Metro Station.
The Pitt Street integrated station development is part of the Sydney Metro City & Southwest project, which sees the NSW Government join other global mass transit development initiatives – aimed at unlocking Sydney’s potential as a growing global city by connecting each of its neighbourhoods through new integrated metro stations. To date, these include the Victoria Cross Station, the Martin Place Station and now, the Pitt Street Station. Herbert Smith Freehills has also advised, in varying capacities, on the Victoria Cross Station and the Martin Place Station.
The Pitt Street integrated station development includes a 39-storey commercial office building above its northern entrance and a 39-storey residential building above its southern entrance.
Strategically placed in the heart of Sydney’s CBD, the development is expected to deliver up to 65,000sqm of combined commercial and residential space, with the residential building being the first purpose-built, large-scale build-to-rent in the Sydney CBD.
Once completed, the project will create a vibrant new commercial and residential hub around Pitt Street and Bathurst Street.
The Herbert Smith Freehills team was led by partners Julie Couch, Robert Bileckij and Melita Cottrell, with support from partners Elizabeth Charlesworth, Erin Wakelin and Jinny Chaimungkalanont, consultant David Templeman, senior associates William Hickey and Phillip Rattenbury, and solicitors Mike Seo, Curtis Vella and Emily Shepherd.
Greenwoods & Herbert Smith Freehills also advised on the transaction, led by director Andrew White and supported by senior associate Rebecca Lawrence.
Ms Couch said, “we congratulate Oxford, CPB Contractors and Grocon on being awarded the Pitt Street Integrated Station Development contract and look forward to seeing the positive impact that the development will have on Sydney’s ever-growing urban environment.”
Mr Bileckij added, “the Integrated Station Development represents a major milestone in both the Sydney Metro project and Sydney’s infrastructure development as a whole, and it is a testament to Oxford and the consortium’s reputation for dedication to quality and value that the project has been awarded to them.”
Ms Cottrell commented, “the seamless integration across multiple disciplines and teams was a standout. We are privileged to have assisted Oxford throughout the selection and award process.”
Corrs Chambers Westgarth advised Grocon, MinterEllison advised CPB Contractors and Ashurst advised Sydney Metro.
This deal is another example of Herbert Smith Freehills’ market-leading work on major infrastructure deals. Other recent examples include advising:
- Macquarie Group in relation to its unsolicited proposal to the NSW Government for a fully integrated station development solution for the new Sydney Metro Martin Place Station;
- Lendlease in relation to it successful tender to develop Sydney’s Barangaroo South development, Australia’s largest urban renewal project since Olympic Park and the Sydney Olympics in 2000; and
- a bidder on the Victoria Cross integrated station development.