The NSW Government has awarded Macquarie Group a $378.6 million contract to deliver the largely underground station component of the new Martin Place metro station – for Sydney’s first integrated metro station development.
As part of the first value capture agreement on Sydney Metro, the NSW Government will receive $355 million from Macquarie Group for the air rights above the new metro station and Macquarie will deliver new commercial buildings, pedestrian connections and retail space.
Transport for NSW said that the company’s proposal for the integrated station development was evaluated and found to provide a “unique positive outcome for the State”, satisfying all criteria.
Macquarie Group has appointed Lendlease as its design and construction contractor to deliver the new station, retail space, pedestrian connections and the buildings above the station.
The new Metro station as part of the development will meet the same high standards as all the new city metro stations and will be owned by the NSW Government.
As the new Martin Place Station is built underground, the integrated station development will be able to be built above at the same time.
Minister for Transport and Infrastructure Andrew Constance said the integrated development, coupled with the Sydney Metro in the CBD, will breathe new life into the heart of Sydney.
“As part of our plan to improve public transport, new metro rail will help give people more choice on how they get around Sydney.
“With the new Martin Place station, customers in the heart of Sydney’s CBD will have access to an unprecedented level of public transport and will be more connected than ever before.”
Sydney Metro services aim to start in the second quarter of 2019 in the city’s north west, with metro rail to be extended in 2024 under Sydney Harbour, through the CBD and beyond to Bankstown.