East Circular Quay Redevelopment (Series): Construction continues (1996)

Last week, in the East Circular Quay Redevelopment series, I looked at 1995 and the commencement of construction, including the demolition of the buildings that remained on the site owned by Colonial Mutual Limited (CML). 

This year will focus on 1996.

Changes to the design

Further changes were proposed. Simply, 3 and 5 Macquarie Street would have been merged into one building, with 7 Macquarie Street remaining separate, except that it would become a hotel (as mentioned last week). The heights of the buildings were to be increased by five metres. An observation lounge proposed for the sky bridge connecting Bennelong Apartments (1 Macquarie) with the other buildings was scrapped.

 

Source: Totaro, P. "Back to the drawing board for controversial $350m Quay development".  The Sydney Morning Herald, September 27: 3. 

Mirvac Vs CML 

Source: Gosman, K. 1996. "Millionaires row over penthouses with a view". The Sunday Telegraph, November 24: 31. 

Mirvac's Quay Grand Project had pulled off very strong sales for their apartments, many fetching $2 million. When apartments were released for sale in May, they were all sold by the end of the day that sales were launched.  

Tycoon Bob Ell paid $3.5 million for his penthouse. He objected to plans to increase the height of the CML Buildings (3,5,7 Macquarie Street) by five metres. 

Apartment Sales

 

Source: Edwards, G. 1996. "Unit fetches $5m before a brick is laid". The Daily Telegraph, April 11: Page Unknown.

Even with the opposition building against it, there were plenty who were eager to call the area home and had the wallets to do so. Apartments were sold without any formal market.

One penthouse had been sold by April 1996 for $5.5 million.  

Construction

I had nothing on file with actual construction photos from 1996 to share, but it was reported that the entire development (both CML and Mirvac) would be completed by 1998. The newspapers questioned the pace of construction and whether there was any progress at all.

The next three entries will focus on 1997, which was significant as the construction of the buildings fuelled further opposition, and the question of how to redevelop the precinct rose again. 

Entries in this Series

1. East Circular Quay Redevelopment (Series): The first apartment block proposal (1979)
2. East Circular Quay Redevelopment (Series): Opera Garden Centre Scheme (1984)
3. East Circular Quay Redevelopment (Series): Unilever House Hotel Conversion (1986)
4. East Circular Quay Redevelopment (Series): Opera Garden Centre Scheme Revisited (1986)
5. East Circular Quay Redevelopment (Series): Unilever House Hotel Conversion (1987)
6. East Circular Quay Redevelopment (Series): CML's 1990 Scheme
7. East Circular Quay Redevelopment (Series): CML's Bennelong Centre (1991)
8. East Circular Quay Redevelopment (Series): East Circular Quay Redevelopment (Series): The Revolving Office Tower Scheme (1991)
9. East Circular Quay Redevelopment (Series): East Circular Quay 'Ideas Quest' (1992)
10. East Circular Quay Redevelopment (Series): Mirvac Hotel Scheme - 61 Macquarie Street (1992)
11. East Circular Quay Redevelopment (Series): New Planning Guidelines unveiled (1993)
12. East Circular Quay Redevelopment (Series): The shift towards residential development (1993)
13. East Circular Quay Redevelopment (Series): Residential Scheme unveiled (1994)
14. East Circular Quay Redevelopment (Series): Construction commences (1995)