New era begins at Australian Technology Park
Australian Technology Park (ATP) will begin a new chapter in its rich history following the completion of its sale to a Mirvac-led consortium.
UrbanGrowth NSW today announced that it had finalised the sale of the Eveleigh site.
“Proceeds from this sale will help finance the upgrade of Redfern Station and development of the new Sydney Metro station at Waterloo, subject to government approval of the business case for these works,” UrbanGrowth NSW Chief Executive David Pitchford said.
“The arrival of the Commonwealth Bank as a fintech anchor tenant at ATP and the creation of additional office space for new and existing technology, commercial, retail and education tenants are expected outcomes that may not have been possible if the site had remained in government hands,” he said.
The sale of ATP does not bring an end to the NSW Government’s involvement in the area. The draft urban transformation strategy for Central to Eveleigh is expected to be released for public comment in mid 2016.
One of the key moves of the Strategy is to create a centre for Sydney’s growing economies that will lead to a cluster of new innovation and creative jobs, focusing on small to medium sized businesses.
“We want to create a digital arc that stretches from Redfern-Eveleigh to White Bay supporting a vast array of tech industries on the fringe of the CBD,” Mr Pitchford said.
“I am confident that the Central to Eveleigh precinct will not only benefit from major government infrastructure improvements, but also from the private sector’s commitment to taking ATP to the next stage of its evolution.”
Mr Pitchford said recognition and conservation of the precinct’s heritage has been an important hallmark of the sale.
“The sale excludes residential development at ATP and Public Positive Covenants attached to the title will help protect the site’s significant heritage value. A further covenant enshrines the right of public access through the site.
“UrbanGrowth NSW looks forward to continuing its relationship with ATP as a major stakeholder and home for innovation in Sydney.”