Zurich to call North Sydney home

Zurich to call North Sydney home

18 May 2018

Following the Nine Network’s future move to 37-storey 1 Denison Street, global finance and insurance group Zurich Financial Services, are following suit and committing to a transformed North Sydney CBD.

Zurich will be moving its Australian headquarters to a new 25-storey office tower at 118 Mount Street, with construction kicking off this week.

According to The Australian, Zurich trimmed back its initial plans for the tower from a 29-­storey scheme last year but the building will become one of the best in the area.

The 20,000sq m A-grade building will target five-star, Green Star and five-star NABERS Energy ratings and will feature a two-level podium with cafe, a sky terrace, three basement car-­parking levels and end-of-trip ­facilities.

The company’s existing six-storey complex at 118 Mount Street is being demolished to make way for the new building, which is being undertaken by Zurich Insurance Group’s property development arm.

Zurich will occupy the majority of floors as anchor tenant and will look to draw in other occupiers as the project progresses, reports The Australian.

The project has been developed in conjunction with White & Partners and Generate Property Group. The tower was designed by architects FJMT with services design by AECOM and structure by Northrop.

The tower’s builder, Roberts Pizzarotti chief executive Alison Mirams said the company had worked closely with the consulting teams on the project, which is its first major office tower.

Both the 1 Denison Street and 118 Mount Street towers, will be eclipsed in the future by a new 230-metre, 40-storey office tower above Victoria Cross Station in North Sydney.

Lendlease, Dexus and a John Holland-Charter Hall joint venture have been short-listed by Sydney Metro to build both the Victoria Cross Station and the commercial tower over the top, reports The Australian.

Zurich’s 118 Mount Street, Nine’s 1 Denison Street, Victoria Cross tower will cap off a development boom for North Sydney which has recently seen a surge of activity. This includes the 35-storey 100 Mount Street, owned by Dexus, which will become the headquarters of the National Broadband Network upon completion in early 2019, reports The Sydney Morning Herald.

It has taken a long time for the North Sydney office market to recover, which prompted many developers to concert redundant office towers into residential blocks. But with the arrival of business back to the area, looking to avoid the high costs of being in the Sydney CBD, North Sydney is experiencing a building boom.