Massive revamp for Circular Quay
Image: An artists's impression of Loftus Lane after AMP's redevelopment
The redevelopment of AMP’s landholdings at Circular Quay will be just the start of a huge revamp of the area, with the Sydney Harbour Foreshore Authority (SHFA) set to announce a comprehensive redevelopment plan for the precinct.
The financial services giant revealed last week it would redevelop its 45-storey AMP Centre at 50 Bridge St commencing 2015. While the building would not increase in height, its floor space would double and the tower would receive a new façade.
The proposal would see the centre linked to the nearby 26-storey AMP Building at 33 Alfred St – Australia’s first skyscraper, completed in 1962. The remainder of AMP’s 1.1 hectares of Circular Quay landholdings – including property abutting Loftus Lane, Loftus St and Young St – would also be redeveloped, giving the precinct an array of new retail outlets, cafes, restaurants, bars and public spaces.
However, AMP’s plans are just the beginning of a much wider revitalisation.
Chris Johnson, CEO of the Urban Taskforce, said it would be the leading edge of a broader Circular Quay improvement project.
“[The SHFA] is known to be working with other stakeholders on a wider plan for the Quay,” said Mr Johnson. “AMP’s $1 billion revamp will slot into a much larger public and private upgrade.”
However Mr Johnson, a former NSW Government Architect and former Executive Director of the NSW Department of Planning, said the upgrade would probably not include burying the much-maligned Cahill Expressway.
“In an ideal world, it would be [underground] but apart from having to find the capital, there’s not much point undergrounding the expressway if you keep the railway and its electrical wires above ground.
“Years ago as a young architect I worked on a project which looked at burying the railway and we found the very steep gradients involved were incompatible.”
Mr Johnson praised AMP’s moves to revitalise their Circular Quay assets, as did Glen Byres, NSW Executive Director of the Property Council of Australia.
“Circular Quay has long been a tired part of Sydney, which is a great shame as it’s the city’s front door.
“We see this as the start of a significant wave of investment which will refresh and revitalise the precinct.”
Mr Byres agreed with Mr Johnson’s Cahill Expressway assessment.
“Ideally, we’d find some way of removing it but redevelopment will probably hinge on working with the expressway rather than removing it,” he said.
Lord Mayor Clover Moore said the City of Sydney Council would play a huge part in the revitalisation.
“Our plan for light rail along George St would terminate at Circular Quay – allowing us to improve the public domain and create a seamless gateway between light rail and the trains, ferry and buses which already meet there,” she said. “We will recognise Sydney’s Indigenous history through our Eora Journey project, which would have a significant presence in Circular Quay.”
Ms Moore said the City’s “Cultural Ribbon”, connecting the Art Gallery of NSW, Sydney Opera House, Customs House, MCA and Sydney Theatre Company, would run through Circular Quay.
She said she looked forward to working with the State Government on the redevelopment.
A spokesperson for the SHFA, an arm of the State Government, could not provide comment by press time but committed to revealing more details by Friday.
