Mirvac, Coombes receive planning approval for Sydney mixed-use project

Mirvac, Coombes receive planning approval for Sydney mixed-use project
Artist impression only Courtesy of Mirvac

Mirvac Group and Coombes Property Group have received planning consent from the City of Sydney, through its Central Sydney Planning Committee, for the proposed mixed-use, residential-led precinct at 505 George St.

The landmark project is set to transform the city skyline with the delivery of Sydney’s tallest residential tower, soaring 270 metres above ground. The proposed tower includes 507 apartments, including luxury serviced suites and a rooftop restaurant and bar, while the podium comprises a boutique cinema, retail, conferencing facilities, a childcare centre and a meeting room facility for Council.

The scheme includes plans to improve pedestrian connectivity at ground level by linking George Street and Kent Street, as well as significantly enhancing the existing streetscape.

505 George Street has pushed the boundaries of environmentally sustainable design and is aiming to be Australia’s tallest residential tower to receive a 5 Star Green Star Design and As-Built rating from the Green Building Council of Australia.

Mirvac is managing the project on behalf of Coombes Property Group, with architects Ingenhoven and Architectus selected following an international design competition. The building has already received international acclaim for its visionary design. Last year it won the MIPIM/Architectural Review Future Project Award in the Tall Buildings category.

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The site, with significant street frontage to George and Kent Street, is currently occupied by Event Cinemas, a number of food retailers, entertainment venues such as Timezone and a college.

Coombes Property Group is the landowner and developer of the project. Consistent with the business model of Coombes Property Group, ownership of the completed development is intended to be retained by Coombes Property Group and the building offered for lease. Mirvac is coordinating the project on behalf of Coombes Property Group.

Coombes Property Group acquired the 4,308sqm site in 2009 from Challenger Financial Services and in 2015 secured site-specific planning approval permitting greater height on the site subject to the provision of community benefits.