CPB Contractors confirmed for $150M Pitt Street Station tower

After securing the $463 million contract to build Sydney Metro’s Pitt Street Station in 2019, CIMIC Group’s CPB Contractors has been confirmed as the builder for the two high-rise buildings above the station.

The design and construct contract for the tower was awarded by Pitt Street Developer South and will generate revenue of approximately $150 million to CPB Contractors.

When completed, the south tower of the project will be the the first build-to-rent residential tower in Sydney’s central business district.

The 39-storey residential building, with 234 build-to-rent apartments, will be retained by investors Oxford and Investa, who will offer the apartments to the rental market. It is being built over the southern entrance to the Pitt Street Station.

The office building will feature 47,480 square metres of office space with a further 1,320 square metres of retail and is targeting a 6-star Green Star sustainability rating. Its design has been inspired by the Bloomberg Building in London and Hearst Tower in New York.

CIMIC Group Executive Chairman and Chief Executive Officer Juan Santamaria said CPB Contractors was delivering the design and construction of the high-rise tower above the station, working collaboratively with its clients.

“This project brings together the global and in-market development experience of Oxford and Investa with CPB’s 50 years of building experience to provide a residential project that is seamlessly integrated with the metro,” Mr Santamaria said.

Oxford and CPB Contractors are part of a consortium assembled by Grocon that has been awarded the contract for the Pitt Street development by the NSW Government.

The residential tower is scheduled to complete construction in 2023, and the office tower is scheduled to complete construction in 2024.

Work on the Pitt Street station above which this tower will be built is already underway, with tunnelling and excavation work completed in late 2020.

The NSW Government has allowed infrastructure construction sites to work extended hours across weekends and public holidays throughout the COVID-19 pandemic.

Pitt Street is one of six new stations for the Sydney Metro line, which extends the new metro rail from Chatswood, under Sydney Harbour, through the Sydney CBD to Bankstown.

In 2024, Sydney will have 31 metro railway stations and a 66 kilometre standalone metro railway system.