1969: Original scheme for the T&G Tower (201 Elizabeth Street)

Recently developers have sought to redevelop the office tower at 201 Elizabeth Street which was once known as the T&G Tower (which replaced the original T&G Building of 1929). Redevelopment would have seen the office tower gutted and converted into a mixed use tower comprising of a hotel and apartments.

The recent sale of the tower from owners Dexus and the Perron Group to Charter Hall and Abacus for $630 million combined with a struggling property market will mean that for now, 201 Elizabeth Street will remain an office tower.

It is interesting to note that fifty years ago, T&G were keen to knock down its 1929 building and replace it with a modern office tower which was different.

A sign of redevelopment can be seen below from an article that was published in The Daily Telegraph in 1968. T&G purchased three buildings located on the corner of Park and Castlereagh Street. As with any redevelopment, there is initial denial of any redevelopment.

Source: Anon. 1968. "Buying up the block". The Daily Telegraph, September 25: 17.

The following year, T&G unveiled their plans to redevelop the entire block bounded by Elizabeth, Park, Castlereagh and Bathurst streets. Two towers were to be built. The taller tower at 39 levels would be the new offices for T&G. Adjoining it would be an 18 storey tower to house medical tenants and dentists.

This would evolve to become Aetna Life Tower which is regarded as one of the worst designed buildings in Sydney.



The design was finalised in 1972 when formal approval was granted. Excavation of the site had begun.

Source: Anon. 1972. "'Yes' to Major Plans: Schemes to cost $83m". The Daily Telegraph, August 1: 6.


Construction commenced in 1976 and the tower was completed in 1979.