Sydney's first skyscraper at Circular Quay to get a $200m facelift

Built constructions will work with the incumbent architects Johnson Pilton Walker (JPW), to redevelop the tower.

The 33 Alfred Street tower, known as the grand old dame of the city skyscrapers, was officially opened by the then Prime Minister Sir Robert Menzies on February 23, 1962.

It was the first building in Sydney to break the city’s 150-foot (46-metre) height limit, claiming at the same time the title of being the country’s tallest building at 117 metres. It has been home to AMP and AMP Capital for 60 years, but the staffers will now move to the adjoining Quay Quarter.

The project is one of the last pieces of the puzzle in the $5 billion transformation of Circular Quay, which has adopted the moniker of the gateway to the country’s biggest city. As part of the rejuvenation, Lendlease is developing the nearby $1.9 billion state-of-the-art office tower anchored by Salesforce.

On the site of the former Gold Fields House on the corner of Pitt Street is the One Circular Quay residential tower owned by Shenzhen-based developers, with the penthouse said to be priced at more than $100 million.

AMP Capital’s adjoining $3 billion Quay Quarter that flows through to Circular Quay with new laneways and retail offerings is set to open soon with former UBS head Matthew Ground’s investment bank Barren­joey committing to several floors in the landmark tower, along with AMP and advisory group Deloitte.

Redevelopment of 33 Alfred Street will start in the coming months and will be the most comprehensive upgrade of the building since its completion. The 1960s-built tower is listed as one of “heritage significance” meaning there can be changes made but without altering the site dramatically.

AWOF’s fund manager, Kit Georgeos, said the tower has served as AMP’s head office for 60 years and will now get a new lease on life after it is comprehensively refurbished.

“The refurbishment will restore the status of 33 Alfred Street as one of Sydney’s most iconic buildings while retaining its important heritage character and significance,” Ms Georgeos said.

The plans reveal the opening up of the framed windows of the building’s famous facade, replacing them with full height glass, bringing more light into the building and opening up the sweeping views across Sydney Harbour.

Inside the tower there will be post-pandemic-focused office facilities such as wellness areas, larger meeting spaces and more collaborative spaces. The lobby will be enhanced with new reception areas, concierge facilities and cafes and retail outlets.

DWPF fund manager Michael Sheffield said the fund is “pleased to be commencing such a significant project which is generating strong leasing interest”.

He said the upgrade will improve the services and sustainability features of the building, making it one of Sydney’s most “sought-after” office buildings, while strictly maintaining the heritage, character and conservation values of the building.

Built chief executive Brett Mason said the business is proud to be appointed to undertake the redevelopment of one of Sydney’s most important and iconic buildings and “will be able to bring all of our experience in refurbishment, heritage and sustainability to this project to ensure 33 Alfred Street retains its status in the Sydney skyline for the next 60+ years”.

It comes as the office market is set for a post-pandemic revival with workers heading back to the office, albeit in a more flexible and hybrid style. Office landlords have said demand for office space remains high as workers shun working from home all week.