Global law firm Norton Rose Fulbright has advised Oxford Properties and Grocon on its successful tender for the development of a commercial and residential site in the heart of Sydney's CBD.
The build will see two buildings above a new metro station at Pitt Street, Sydney. The NSW Government has approved a 39 storey building for commercial and/or residential or hotel use, and a second building of 39 storeys for either commercial or residential use.
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 Street and Bathurst Street.
Oxford Properties is the lead developer and equity investor for the buildings above the new Pitt Street Metro Station, while CPB Contractors (CPB) will be responsible for the delivery of the station. Oxford Properties and CPB are part of a consortium assembled by Grocon. Oxford Properties is the real estate division of Canadian pension fund OMERS.
Led by the national head of construction and engineering Emanuel Confos, the Norton Rose Fulbright team advised on the downstream construction contracts with CPB Contractors for the integrated station development.
"This development is a strategic step in infrastructure development in NSW, with a commitment to build commercial and 'build to rent' to address the growing needs of Sydney. This development is the latest example of the much needed urban renewal that is sweeping through Sydney, combining state of the art new buildings with new public transport."
The team included Sydney-based special counsels Steven Choi and Melanie Harwood, and senior associate Paul Hedderwick.