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DESIGN & STYLE

Sydney's Iconic Sirius Building Has Been Sold for $150 Million

Despite the long fight to save the brutalist tower, it has officially been sold to developers.
By Samantha Teague
June 28, 2019
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Sydney's Iconic Sirius Building Has Been Sold for $150 Million

Despite the long fight to save the brutalist tower, it has officially been sold to developers.
By Samantha Teague
June 28, 2019
  shares

Despite years of public ralliescrowdfunding efforts and court action, Sydney's brutalist Sirius Building has finally been sold. The 79-unit 70s-era tower, and former public housing, had been on the market for over a year, and was today snapped up for $150 million.

It was purchased by Sirius Developments Pty Ltd, which is owned and backed by Australian investment firm JDH Capital. Under the company's proposed refurbishment, the building will be home to 89 apartments, as well as retail and commercial spaces.

According to Minister for Water, Property and Housing, Melinda Pavey, who announced the sale, the refurbishment will "result in renewal and activation of a critical are in The Rocks" while also "remaining sensitive to the heritage of the precinct". At this point, it doesn't sound like the building will be demolished, just "revitalised".

Kimberley Low

The building, which was designed by architect Tao Gofers, is not only an important part of 70s history and a great example of brutalist architecture, but also public housing. For years and years, it has helped to even the score in this expensive, property-obsessed city of ours, by allowing people on low incomes to live in the centre (with harbour views, no less).

All of the building's former residents have since been moved to alternative accommodation, with 91-year-old Myra Demetriou the last to leave in early 2018. The NSW Government has netted the $150 million from the sale, but Mrs Pavey says the money will be used to build new social housing dwellings — she expects to provide homes for 630 people. At the moment, there are currently 55,000 people on the social housing waiting list.

In the next steps for the building, Sirius Developments will submit proposed detailed designs and a development application. We'll keep you updated on the plans for the building.

Top image: Sirius Building by Kimberley Low.

Published on June 28, 2019 by Samantha Teague

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