The NSW Government has awarded Macquarie Group a $378.6 million contract to deliver the largely underground station component of the new Martin Place metro station – including new underground pedestrian connections and improvements to the public domain.
As part of the first value capture agreement on Sydney Metro, the NSW Government will receive $355 million from Macquarie Group for the air rights above the new metro station and Macquarie will deliver new commercial buildings, pedestrian connections and retail space.
Macquarie Group has appointed Lendlease as its design and construction contractor to deliver the new station, retail space, pedestrian connections and the buildings above the station.
According to a press release from the NSW government, as the station is built underground, the integrated station development will be built above. This will help reduce community impact and allow the buildings to be completed close to when Sydney Metro services start in 2024.
Due to the massive scale of the Sydney Metro project, final individual contract values may vary due to ongoing fine-tuning and optimisation involving the other major contracts, for which tenders have yet to be received, the press release continues.