NEVER BUILT SYDNEY: 40 Park Street (1988)

Full Citation Below

Did you know that a tower was once proposed to be built on the site of the recently completed Parkline Place tower in Park Street, directly above Gadigal Station, decades before heavy rail snaking underneath Pitt and Castlereagh Streets, and a metro station right on Park Street?

It happened in 1988.

Interestingly, the proposed tower was 40 storeys tall, just one storey higher than today's tower. The development would have comprised 4000 sq/m of retail space, 45,000 sq/m of space (similar to the current Parkline Place), a 2,500 sq/m space for a library, and a four-storey public atrium.

It was to be developed by developer Frank Theeman.

Source: Chancellor, J. 1988. "Theeman catches key CBD sites". The Sydney Morning Herald, March 1: 28.

How would the Metro Station fit into the narrative had the tower been built?

This tower would have impacted plans for the Sydney Metro if they had to stick to what we see today. It would have created a barrier to building an entrance from Park Street. Consider that it was planned for Town Hall and Gadigal Stations not to be connected at all to avoid creating a "super station". Gadigal was also built to alleviate overcrowding at Town Hall Station. Data has shown that patronage at Town Hall has decreased by 10% since the CBD Metro opened. Options for a station entrance, particularly at the northern end, are limited, and Park Street is also a bus corridor for a number of bus services operating in central Sydney.

This tower would have likely been compulsorily acquired and demolished just like 39 Martin Place was for the construction of the metro platforms and entrances at Martin Place and the buildings in Elizabeth, Castlereagh and Hunter Streets that were located behind the Commonwealth Bank building. This would ultimately mean Parkline Place would be built, likely in a very similar form to the current tower and to at least the same number of floors and height, if not kept to the 40 floors. As for heights, Parkline Place may have ended up taller provided it could conform to solar access protections, meet design excellence standards and justify breaching height and planning limits.

This is a "never built" that did Sydney a favour, even if it was not back in the 1980s, because the acquisition of the tower for the Sydney CBD Metro would have increased construction costs and removed any barriers to placing a station entrance to Gadigal Station in Park Street. 

Above: Parkline Place as viewed from Park Street at Hyde Park. Photo taken by the Author (2025).