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NSW government, Macquarie Group agree to revamp of Martin Place Station
Following an unsolicited proposal from Macquarie to design and deliver a new station development at Martin Place, the NSW government has agreed to the development of an integrated metro station.
Jerome Doraisamy
Firm: Ashurst (NSW government); Herbert Smith Freehills (Macquarie Group); unknown (Lendlease).
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Deal: Macquarie, together with its design and construction contractor Lendlease, will deliver a new underground Martin Place metro station integrated with a retail and recreational precinct, two new office towers and the existing Martin Place railway station.
Area: Projects
Value: Undisclosed
Key players: The Ashurst team was led by partners Angus Foley, Olivia Lau and Krista Payne, who were assisted by senior associate Laura Hillhouse and lawyers Marya Atmeh, Joshua Lee, Caitlin Read and Rhiannon Evans.
Deal significance: Speaking about the deal, Ms Lau said, “The firm is delighted to have advised on this critical component of Sydney’s transport future. It involved significant legal complexity and we are pleased to have assisted in the agreement with Macquarie as an important part of the larger Sydney Metro project.”
Mr Foley added, “It is a transformational integrated station development, which will greatly enhance the public transport landscape of Sydney.”
Ms Payne noted, “The signing of this contract is a landmark moment for the Sydney Metro City & Southwest project. The design for the integrated station development is an excellent result for the community.”
