Plans to build two of the largest towers in the Sydney CBD have been given the go-ahead.

The City of Sydney has approved plans for its $3.5 billion Castlereagh Place project.

Set upon a 5,000 square meter site that was acquired by joint venture partners Billbergia Group and Metrics Credit Partners in 2024, the development aims to transform an underutilised city block into a landmark mixed-use destination.

It will be anchored by two 82-storey towers that will be among the tallest in the Sydney CBD.

These towers will feature:

• 607 luxury residences. These will focus on larger floorplans and include 299 three-plus bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.
• Spectacular views across the Sydney CBD, Sydney Harbour and beyond. Upper floor apartments will enjoy unobstructed 360-degree views across Sydney.
• Resident amenities, including an exclusive residents club containing a gymnasium, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service.
• A 209-room luxury hotel.
• A state-of-the-art wellness centre that will feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.
• Around 500 basement car parking spaces.

On the ground, a 1,000 square metre civic park on ground level will feature a curated mix of food, beverage and retail.

Meanwhile, a three-level flagship building on the corner of Pitt Street and Liverpool Streets will serve as the development’s gateway and will be capable of housing multiple hospitality venues.

The project has been designed by architects fjcstudio in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design.

These firms were joint winners of an international design competition in 2018.

According to the developers, the public domain element of the development has been enhanced since the original scheme, with 60 percent more open-to-sky space.

Pedestrian access will also be enhanced through new activated laneways that will link Pitt, Liverpool and Castlereagh Streets.

Joseph Kinsella, Group Director of Billbergia, welcomed the latest progress.

“Castlereagh Place is designed to be the City’s next great urban oasis – an energetic mixed-use precinct that pulses with life, day and night,” Kinsella said.

“It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney.

“It will build on Sydney’s growing laneway culture with the City’s largest network of new activated lanes – an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.”

According to architects fjcstudio, the towers will feature distinctive yet elegant architectural design.

This will reflect Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

“Castlereagh Place is a city-making project of significant scale and ambition,” Richard Francis-Jones, Design Director at fjcstudio said.

“It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways.

“Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

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