Dexus and Frasers Property plan Henry Deane Plaza development, Central Station, Sydney
20 August 2018
Dexus: The
NSW Government has approved to progress to Stage 2 of the
Unsolicited Proposals (USP) process a proposal by Dexus and
Frasers
Property Australia (“the Partnership”) to
redevelop the
Henry Deane
Plaza at Lee Street, Central.
The Government has agreed that the proposal, in concept form, is deemed
of sufficient interest to warrant further development and progression to
a more defined project. The Government has not agreed to the proposal.
Stage 2 involves the development of a detailed proposal for redeveloping
Henry Deane Plaza into a large scale
mixed-use development integrating a
transport and pedestrian access solution. At the end of Stage 2, the
Government will undertake an assessment of the Detailed Proposal against
the USP assessment criteria.
Dexus Chief Executive Officer, Darren Steinberg, said:
“This mixed-use development opportunity includes a significant
commercial component and the potential for superior urban, transport and
connectivity outcomes.
“It presents a unique opportunity to integrate
Transport for NSW’s plans
to revitalise
Central Station, complementing the State Government’s
vision for a new
technology and innovation
precinct, stretching from Central to
Eveleigh.”
Frasers Property Australia Chief Executive Officer, Rod Fehring,
added: “This solution is best created working in conjunction with
Government through a USP process. Stage 1 approval enables us to commit
resources and progress with a benefits analysis, precinct master
planning and statutory planning process.”
A USP is an approach from the private sector seeking an exclusive
commercial arrangement with government to deliver a service or
infrastructure to meet a community need.
The Partnership has access to unique property ownership that places it
in a unique position to deliver the proposal. The properties are held
under long term leases, with 14 Lee Street held by the Dexus Office
Partnership, and 20 Lee Street and 26 Lee Street held by Frasers
Property Australia.
There are three stages of the USP framework – initial submission (stage
1), detailed proposal (stage 2), and Final Binding Offer (stage 3). The
Henry Deane Plaza proposal has completed stage one and is today moving
to stage two.
There will be an opportunity for the public to comment on the proposed
development scheme during the public exhibition stage.
For further information relating to the proposal, refer to the NSW Government website here, https://www.nsw.gov.au/contact-us/unsolicited-proposals/#currentcompleted-proposals.
--ENDS--
Source: Dexus - www.dexus.com
Contact: N/A
External Links: https://www.nsw.gov.au/contact-us/unsolicited-proposals/#currentcompleted-proposals.
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