55 Market Street is a significant commercial office tower located on the corner of Pitt and Market Street at the southern end of Pitt Street Mall in Sydney.
The building was constructed in 1987 and for the first 20 years of its life had the city centre monorail link embedded in the lower retail floor of the building. A combination of the changing demographics of this central Sydney retail precinct and the end of significant long-term retail and commercial leases facilitated a unique opportunity to fully upgrade the tower and podium to current commercial leasing standards.
TSA was appointed to project manage all aspects of the upgrade of the commercial tower by the development manager and owner’s representative, Mirvac Asset Management. The project brief was to maximise the longer-term investment potential of the existing asset by leveraging its strong locational advantages with a new street presence and an enhanced commercial office identity on behalf of the buildings overseas-based owner.
This challenging project included the development of a highly refined Fender Katsalidis architectural design, combined with a full upgrade of the existing services to achieve current BCA and PCA A-grade compliance.
As the project manager, TSA had the direct responsibility to manage the procurement of the consultant team, the development of the design delivery strategy including the key design, authority approval, tender, construction, and commissioning phases of the project.
The extensive due diligence period was completed prior to the main works contract being executed, which allowed the project to be completed on budget and on time through what became a challenging 2020.