In 1996, Meriton began construction of the three tower Regis Towers complex. The first release of the 653 apartments in the three towers were on sale.
Prices were:
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| Southpoint Tower. Full Citation below. |
This is our ninth posting in our current series of "Never Builts" in Sydney. I hope you have been enjoying the entries so far.
Last month, I posted some alternative schemes associated with the Capitol Theatre in Haymarket from 1989. At the same time in Campbell Street (site of the Regis Towers by Meriton), New Zealand developer Grose Property Holdings sought to build a 43 level office tower with 100 000 sq/m of space, This included a three level retail podium.
Source: Walkley, P. 1989. "Grose plans $200 million office development". The Australian Financial Review, December 1: page unknown.
It was reported by The Australian Financial Review (above) in 1989 that there was demand for office space as shown by low vacancy rates around Central Railway Station along with its proximity to Sydney's main railway station. In addition rents in the "uptown" section of the Sydney CBD (southern CBD) was much more competitive for tenants.
Approval was given by Sydney City Council, in June 1990. The site was placed for sale in 1991. In 1996, the buildings on the site were demolished by Meriton for the Regis Towers development which comprised of three towers fronting Campbell, Castlereagh and Pitt Streets, completed in 1998-1999.
Unfortuantely, this proposal was another victim of the early 1990's recession and property crash in Sydney.
If this had been built, I think the southern end of the Sydney CBD would have been more appealing for major companies seeking office space and given an alternative to the northern end of the city. The southern end of the Sydney CBD has lacked landmark office towers. Combined with the original World Square development, "Uptown" Sydney would be more vibrant and more active as a commercial centre.
It is encouraging that the Liberal Government in NSW (2011-Present) has supported a relaxation of planning guidelines in the area surrounding Central Station and encouraging major technology firms to set up corporate headquarters. Southpoint could have set a precedent, but Atlassian's World Headquarters slated for the western side of Central Railway Station will get the honours instead.
