Stockland revealed plans to develop a A$500 million technology hub at Macquarie Park in Sydney, adding that it filed plans for the construction of the project's first stage, featuring 16,500 square meters.
Under stage one, the diversified real estate investment trust will build a 10-story building that will offer office, retail, learning and co-working space, subject to detailed design and planning approvals.
Moving forward, Stockland will develop the remainder of the 55,000-square-meter, five-stage project, slated to include five buildings across three hectares in total. Aside from commercial and retail space, the campus-style precinct will provide amenities such as gym, bicycle storage, childcare and end-of-trip facilities. A large central park will reside in the middle of the site, according to a release.
Tony D'Addona, general manager of logistics and business parks at Stockland, said the scheme formed a part of its A$790 million development pipeline of logistics and business parks.