Sirius, The Rocks

DEDICO was selectively chosen to provide development and project management services for the high-profile building known as Sirius. This iconic building required a development scheme that would respect its original foundations as a well-known historical building and further, to capture the potential Sirius has to offer. As such, DEDICO and client JDH Capital had a vision to ‘retain, restore and reimagine’ Sirius with an approval pathway under State Significant Development (SSD).

Located within the heart of the Rocks, the project will provide 75 luxury apartments, four commercial premises and three retail outlets. In addition, the project will provide public through-site link, a public lift connecting Gloucester Walk to Playfair Street and activation of the ground plane around the perimeter of the site including an upgrade to Gloucester Walk and the provision of Public Art.

The preparation of the SSD submission to the Department of Planning was backed by a coordinated and collaborative approach with Place Management NSW, Heritage NSW, Aboriginal Cultural Heritage NSW, The National Trust of Australia, Department of Planning Biodiversity and Conservation Division, Transport for NSW, City of Sydney Council, along with local communities, and neighbours.

Our approach and collaboration with key stakeholders have proved to be valuable in securing SSD approval on time and in accordance with our development program. In addition, we received positive input and support from key stakeholders which we believe has added value both to the development and the local community.

In parallel with the SSD approvals, JDH Capital with the significant support of DEDICO, was granted approval for financing the project in December2020. In addition, a Construction Contract with Richard Crookes Construction was signed for a contract sum and project duration which aligned with our original feasibility. During this period, marketing material and the arrangement of a display suite at Gateway Building, 1 Macquarie Place Sydney, also commenced meeting a project launch date of mid-June 2021.

The project sales launch was highly successful with a total sales exceeding value of over $500 million including a Penthouse sale of $117k per sqm internal area surpassing previous Sydney sale rates.