EOI open for Sydney’s Sirius building at The Rocks
An Expressions of Interest campaign kicked off on Friday for the iconic Sirius building at The Rocks, with the NSW government looking to invest in new social housing across the state with the expected $100 million proceeds.
The building, next to the Harbour Bridge is one of the most iconic in Sydney.
It has been used for social housing for more than 30 years, and the announcement last year that it will be sold to developers — who are expected to replace it with hundreds of private apartments — drew plenty of fierce opposition from community groups desperate to save it.
The Sirius sale is part of the NSW Government’s strategy to fund new social housing close to jobs, education and transport through the sale of former social housing dwellings.
The plan includes selling about 300 state-owned properties in prime locations across Sydney, including 240 properties in nearby Millers Point, to raise up to $500 million.
The stepped Sirius building was completed in 1980 and currently comprises 11 storeys tapering down to the north and south.
There are 79 units of varying configurations, approximately 70 basement car spaces and approximately 7,010sqm of floor area.
Many of the apartments boast significant harbour and city views, with the rooftop hosting one of the most spectacular and uninterrupted vantage points in the city — with a 360-degree view of the Harbour, Opera House, Harbour Bridge, Circular Quay, city skyscrapers, as well as expansive views towards Barangaroo, Milsons Point, North Sydney, Pyrmont and Balmain.
Sirius is listed through Simon Fenn, Stuart Cox, Neil Cooke and Michael Simpson of Savills Australia.
The NSW Government will maintain interest in the site, ensuring any future developments are sympathetic to the surrounding area.
Mr Fenn said Sirius represents a unique opportunity to acquire a rare, freehold land parcel in arguably Sydney’s tightest held precinct.
“The site, to be sold with vacant possession, is situated within walking distance of Australia’s largest commercial and economic business district; the Sydney CBD, as well as the new Barangaroo precinct and Sydney Harbour,” he said.
“The site provides exceptional Sydney Harbour views to the north and the east, spanning the Bridge and Opera House, which must be seen to be believed.”
The Rocks is widely considered Australia’s first colony, and is registered as a national culturally significant precinct.
The Sirius Building will be sold through Savills Australia by way of International Expressions of Interest leading into a Tender.
The EOI will close on June 28.