Planning and Development Committee

ATTACHMENT A

HERITAGE FLOOR SPACE UPDATE - DECEMBER 2014

Heritage ATTACHMENT A Floor Space Update

HFS awards, sales and development news December 2014

Introduction This issue of the Heritage Floor Space (HFS) Update reports on recent awards, sales and development applications which have been awarded or require the purchase of HFS. The award and allocation of Heritage Floor Space provides an incentive for the conservation and ongoing maintenance of heritage buildings within Central Sydney. Once conservation works have been completed and an award of HFS registered, HFS can be sold and transferred to a development which is required to purchase HFS to achieve the floor space proposed in the approved development application. Heritage Floor Space can be awarded in the B8 Metropolitan Centre Zone only. Its allocation is restricted to sites within Central Sydney where development exceeds specified Floor Space Ratios. The controls and requirements in respect to HFS are outlined in Sydney Local Environmental Plan 2012 (in particular Clauses 6.10 and 6.11) and Sydney Development Control Plan 2012 – Section 5.1.8.

Contacting Owners of Heritage Floor Space Please note that the onus is on the applicant to pursue the owners of HFS in respect to any potential transfer. To facilitate this, the HFS Update includes the contact details of owners of HFS who have authorised the City to publish those details. Any other owner of HFS who wishes to have their contact details published is invited to contact Peter Blow on ph: 9265 9619 or [email protected] to obtain the form to be completed before the City can make those details public. Note: The applicant should contact Peter Blow on (02) 9265 9619 to confirm the amount of Heritage Floor Space outstanding and available for sale prior to any potential transfer.

Recent HFS Activity Registered Awards There were no awards of Heritage Floor Space during 2014.

Sales There were fourteen sales of Heritage Floor Space during 2014. The total amount of Heritage Floor Space transferred was 15,519.5m2 with an average price of $413 per sqm.

Approved Awards One application was approved for the award of Heritage Floor Space during 2014 - 3,562.6m2 was approved for 153-159 Clarence Street, Sydney.

Built circa 1882, this former warehouse at 60-62 Clarence Street is a reminder of the scale and quality of buildings in this part of Sydney. It has historic significance for its association with John Sands, one of Sydney’s oldest publishing companies that occupied the building between 1883 and 1905. The building has aesthetic significance for its extraordinary composition of polychrome brickwork, ceramic tile panelling with zigzag cream brick motifs, modelled cement emblems at first floor level and window joinery with carved barley-twist mullions, forming a harmonious, engaging ensemble that enriches the streetscape. 1 OUTSTANDING HERITAGE FLOOR SPACE - The owners of this HFSATTACHMENT may sell their HFS. Please contact the ownersA direct to enquire about the purchase of HFS.

Remaining HFS from Awards Building SCHI No Address Owner m2 Name number available Parking Station 383-95a/ Kent Street/Sussex Street, DW & Co P/L 9 168-180 Sydney Capitol Theatre 4117 3 Campbell Street, Sydney City of Sydney/IPOH 2,212 AWA House 4086 45-47 York Street, Sydney Vaneri P/L 31 Retail Terrace 2150 77-79 York Street, Sydney Linkbond (Asia) Ltd 1,379 2100 104 King Street, Sydney Hillridge Investments 462 Ron Wakil - ph: 02 9290 9839 4050 414-418 Kent Street, Sydney Susan Varga 588 4050 414-418 Kent Street, Sydney Judith Langton 588 Company Building 4005 152-156 Clarence Street, Sydney Clarence Street Properties P/L 511 Qantas House 2014 68-96 Hunter Street, Sydney DEXUS Funds Management Ltd 359 2076 341 George Street, Sydney NGI Investments P/L 4,666 c/- Ms L. Straman - ph: 02 8281 6604 Metropolitan Fire Brigade 4119 211-217 Castlereagh Street, Sydney Minister for Emergency Services 8,541 Building (NSW Fire Brigades) Railway House 2161 19-31 York Street, Sydney Memocorp Australia P/L 4,423 c/- Mr Jae Kang - ph: 02 9279 1211 Former Central Agency 4018 48-58 Druitt Street, Sydney Henroth P/L 3,220 Building, aka Paisley Daniel Maurici - ph: 02 9212 7740 House Carla Zampatti Building 4053 435A-437 Kent Street, Sydney Carla Zampatti (NSW) P/L 4,145 Commerce Building 4168 345B Sussex Street, Sydney Commerce Building P/L 3,306 HFS remaining from awards 34,440

Remaining HFS from Allocations No Address Owner m2 available 533 Kent Street, Sydney C W Crawley 30 400 George Street, Sydney Farwell Investments P/L 105 10 Spring Street, Sydney Despa Deutsche Sparkassen Immobilien 13 Anlage Gesellschaft mbH 511-513 Kent Street, Sydney Toga Development 224 60-62 Castlereagh Street, Sydney Hooker Projects P/L 988 60 Castlereagh Street, Sydney Perpetual Nominees Ltd 2 210-216 Clarence Street, Sydney Red Breast P/L 85 Bill Rees - ph: 02 8217 8888 2 Park Street, Sydney Trust Company 0.5 339-347 Kent Street, Sydney MML Properties P/L & Athelas Ltd 25 16-20 Hunter Street, Sydney Leda Holdings P/L 35 8 Spring Street, Sydney J.P. Morgan Trust 2 37-51 Martin Place, Sydney Colonial Portfolio Services Ltd 943 Stockland Property Management Ltd 1,092 16-32 Bridge Street, Sydney National Australia Trustees Ltd 2 790-798 George Street, Sydney Bowmont P/L 1,174 c/- D. Low ph: 02 9212 4599 263-265 Castlereagh Street, Sydney Henroth Pty Ltd 6 77-79 Liverpool Street, Sydney Mehmet Cihan - ph: 0421 323 579 1,295 122-122B Pitt Street, Sydney 122 Pitt Street Sydney Ltd 678

2 OUTSTANDING HERITAGE FLOOR SPACE - The owners of this HFSATTACHMENT may sell their HFS. Please contact the ownersA direct to enquire about the purchase of HFS. Remaining HFS from Allocations No Address Owner m2 available 126 Phillip Street, Sydney Farwell Investments P/L 2,490 c/- Investa Properties Michael Cook - ph: 02 8226 9413 126 Phillip Street, Sydney Farwell Investments P/L 40 Ashington Management P/L 13 Undetermined CF Building Services P/L 1,620.5 Jeff Taitz or Robyn Shnier ph: 02 9233 4477 18-32 Jamison Street, Sydney Commonwealth Custodial Services P/L 1 Undetermined Valad Commercial Management Ltd 691 Undetermined Anson Developments (Australia) P/L 142 c/- Mr Wei Min Hu ph: 02 8296 8711 Undetermined Valad Commercial Management Ltd 1,390 184-190 Pitt Street, Sydney Westfield Management Ltd 10 168-174 Pitt Street, Sydney 77-83A Castlereagh Street, Sydney 97-99 Castlereagh Street, Sydney 14-24 College Street, Sydney Venus No.8 P/L 7 367-373A George Street, Sydney Kingvest P/L 44 367-373A George Street, Sydney Kingvest P/L 102 416-418 George Street, Sydney Fortius Funds Management P/L 39.5 416-418 George Street, Sydney Fortius Funds Management P/L 68.5 416-418 George Street, Sydney Fortius Funds Management P/L 37 108-120 Pitt Street, Sydney CFS Managed Property P/L and 242 CBus Property 5 Martin Place P/L 161 Clarence Street, Sydney Crown Central P/L 707 161-163 Clarence Street, Sydney 304 Kent Street, Sydney 161 Clarence Street, Sydney Multiplex (Clarence Street) P/L 310 161-163 Clarence Street, Sydney 161 Clarence Street, Sydney Multiplex (Clarence Street) P/L 505 161-163 Clarence Street, Sydney Undetermined Farwell Investments P/L 260 11 Alberta Street, Sydney Alberta Developments P/L 85 c/- Freya McLeod ph: 02 9274 1133 580 George Street, Sydney GPT Funds Management 2 P/L 14 168-190 Day Street, Sydney Loftex P/L 50 c/- George Banjanin ph: 02 8920 0516 HFS remaining from allocations 15,568 Total HFS outstanding 50,008 Note: Only whole amounts of HFS have been included in the “Remaining HFS from Allocations” table.

3 AWARD OF HERITAGE FLOOR SPACE SINCE 1 JANUARY 2009 ATTACHMENT A Building Name SCHI Street No. Address Vendor HFS HFS Number Approval Award Date Railway Institute Bldg 6031 101 Chalmers Street, Surry Hills Protono P/L 17/04/09 1,262 Metropolitan Fire 4119 211-217 Castlereagh Street, Sydney Minister for Emergency 11/09/09 8,541 Brigade Building Services (NSW Fire Brigades) Railway House 2161 19-31 York Street, Sydney Memocorp Australia P/L 10/12/09 4,423 National Building 4071 248A-250 Pitt Street, Sydney Carefree Holdings P/L 14/04/10 2,671 Former Central 4018 48-58 Druitt Street, Sydney Henroth P/L 08/04/11 3,220 Agency Building, aka Paisley House Carla Zampatti 4053 435A-437 Kent Street, Sydney Carla Zampatti (NSW) P/L 02/05/11 4,145 Building 5045 11-23 Rawson Place, Haymarket YHA Ltd 07/11/11 1,970 The Commerce 4168 345B Sussex Street, Sydney Commerce Building P/L 28/03/12 3,306 Building 4115 95 Bathurst Street, Sydney Minh Hai and Chi Thuyen Ta 09/05/12 910 John Sands Building 2051 60-62 Clarence Street, Sydney Levanai Nominees P/L 02/06/10 734

REGISTERED ALLOCATION OF HERITAGE FLOOR SPACE SINCE 1 JANUARY 2009 No Address Vendor Purchaser $/m2 HFS HFS (excl Transfer Transfer GST) Date 275 Pitt Street, Sydney Castle Partners IPOH Pty Ltd $451 26/03/2009 61 Finance Pty Ltd 531-535 George Street, Sydney Susan Agnes Fellar Eastside Investments P/L $330 29/04/2009 270 545-551 200-218 Goulburn Street, Sydney Valad Funds Management Anka (Darlinghurst ) P/L $350 17/08/09 849 Ltd 232-236 Pitt Street, Sydney Cicibuck P/L Pitt & Castlereagh P/L $340 15/02/2010 575.5 238-242 Pitt Street, Sydney 244-248 Pitt Street, Sydney 161-163 Castlereagh Street, Sydney 165-167 Castlereagh Street, Sydney 232-236 Pitt Street, Sydney Kulin Holdings P/L Pitt & Castlereagh P/L $360 22/03/2010 1720 238-242 Pitt Street, Sydney 244-248 Pitt Street, Sydney 161-163 Castlereagh Street, Sydney 165-167 Castlereagh Street, Sydney 232-236 Pitt Street, Sydney WG Sherman and Pitt & Castlereagh P/L $340 15/02/2010 617 238-242 Pitt Street, Sydney EG Sherman 244-248 Pitt Street, Sydney 161-163 Castlereagh Street, Sydney 165-167 Castlereagh Street, Sydney 232-236 Pitt Street, Sydney Rikoaks P/L and Pitt & Castlereagh P/L $340 15/02/2010 40.5 238-242 Pitt Street, Sydney and WG Sherman 244-248 Pitt Street, Sydney 161-163 Castlereagh Street, Sydney 165-167 Castlereagh Street, Sydney 232-236 Pitt Street, Sydney NSW Masonic Club Pitt & Castlereagh P/L $385 23/03/2010 2776.5 238-242 Pitt Street, Sydney 244-248 Pitt Street, Sydney 161-163 Castlereagh Street, Sydney 165-167 Castlereagh Street, Sydney 232-236 Pitt Street, Sydney Protono P/L Pitt & Castlereagh P/L $345 22/03/2010 1262 238-242 Pitt Street, Sydney 244-248 Pitt Street, Sydney 161-163 Castlereagh Street, Sydney 165-167 Castlereagh Street, Sydney

4 REGISTERED ALLOCATION OF HERITAGE FLOOR SPACE SINCEATTACHMENT 1 JANUARY 2009 A No Address Vendor Purchaser $/m2 HFS HFS (excl Transfer Transfer GST) Date 14-24 College Street, Sydney Castle Partners Finance Venus No.8 P/L $443 01/04/2010 755 P/L 4-10 Campbell Street, Susan Feller Karimbla Properties (No.2) $363 09/06/2010 364 Haymarket P/L 4-10 Campbell Street, CF Building Services P/L Karimbla Properties (No.2) $400 09/06/2010 3224 Haymarket P/L 237-241 Macquarie Street, Sydney Cyprus Hellene Club P/L Law Courts Ltd $365 02/06/2010 106 367-373A George Street, Sydney Rikoaks P/L and W.G. Kingvest P/L $364 13/07/2010 415 Sherman 710-722 George Street, Sydney Cyprus Hellene Club P/L Inmark DWS P/L $500 22/10/2010 50 188-208 George Street, Sydney Carefree Holdings P/L Mirvac George Street P/L $370 18/01/2011 2,671 (as trustee for the George Street Trust) 188-208 George Street, Sydney Zandra P/L Mirvac George Street P/L $350 21/01/2011 821 (as trustee for the George Street Trust) 188-208 George Street, Sydney Rikoaks P/L and Mirvac George Street P/L $350 04/02/2011 92.5 and WG Sherman (as trustee for the George Street Trust) 188-208 George Street, Sydney The Body Corporate, Mirvac George Street P/L $350 10/02/2011 2,520 Strata Plan No.14172 (as trustee for the George Street Trust) 219-227 Elizabeth Street, Sydney DW & Co P/L The Trust Company Ltd $682 08/07/2011 27 as custodian for Valad Commercial Management Ltd as Trustee for the 227 Elizabeth Street Trust 148 Goulburn Street, Sydney Cyprus Hellene Club Ltd Ti Amo Strategies P/L $361 09/08/2011 59 and Cavafall P/L 188-208 George Street, Sydney Cyprus Hellene Club Ltd Mirvac George Street P/L $360 11/07/2011 1,064 (as trustee for the George Street Trust) 188 Pitt Street, Sydney Cyprus Hellene Club Ltd Westfield Management Ltd $350 26/10/2011 750 58-68 King Street, Sydney Cyprus Hellene Club Ltd CBD One P/L $380 10/11/2011 34 52-56 Martin Place, Sydney Kamirice P/L The Trust Company Ltd $450 15/02/2012 118 232-236 Pitt Street, Sydney CF Building Services P/L GPT Funds Management Ltd $375 04/04/2012 1,218 238-242 Pitt Street, Sydney and The Trust Company 244-248 Pitt Street, Sydney (RE Services) Ltd 161-163 Castlereagh Street, Sydney 165-167 Castlereagh Street, Sydney 61-79 Quay Street, Haymarket YHA Ltd The Quay Haymarket P/L $380 10/09/2012 1,359 416-418 George Street, Sydney CF Building Services P/L Fortius Funds Management $475 12/09/2012 39.5 P/L 416-418 George Street, Sydney Castle Partners P/L Fortius Funds Management $475 12/09/2012 68.5 P/L 416-418 George Street, Sydney Cyprus Hellene Club P/L Fortius Funds Management $475 12/09/2012 37 P/L 188-208 George Street, Sydney Castle Partners P/L Mirvac George Street P/L $370 19/09/2012 1,000 108-120 Pitt Street, Sydney NSPT P/L CFS Managed Property Ltd $324 01/03/2013 85 and Cbus Property 5 Martin Place P/L 108-120 Pitt Street, Sydney Ozton P/L CFS Managed Property Ltd $324 01/03/2013 2,378 and Cbus Property 5 Martin Place P/L 108-120 Pitt Street, Sydney Valad Funds Management CFS Managed Property Ltd $323 05/04/2013 3,583 Ltd and Cbus Property 5 Martin Place P/L

5 REGISTERED ALLOCATION OF HERITAGE FLOOR SPACE SINCEATTACHMENT 1 JANUARY 2009 A No Address Vendor Purchaser $/m2 HFS HFS (excl Transfer Transfer GST) Date 108-120 Pitt Street, Sydney Valad Funds Management CFS Managed Property Ltd $323 05/04/2013 304 Ltd and Cbus Property 5 Martin Place P/L 18-30A Martin Place, Sydney Kamirice P/L Horizon MP Management $380 07/06/2013 992 P/L as Trustee for Pembroke Mp Unit Trust 331 George Street, Sydney Kamirice P/L The Trust Company $380 14/03/2014 4,025 333-339 (Australia) Ltd 161 & Clarence Street, Sydney Levanai Nominees P/L Crown Central P/L $350 18/03/2014 734 161-163 304 Kent Street, Sydney 169-183 Liverpool Street, Sydney City of Sydney / IPOH Sicard P/L $382 28/05/2014 1,597.5 161 & Clarence Street, Sydney CF Building Services P/L Crown Central P/L $390 06/05/2014 1,532 161-163 304 Kent Street, Sydney 161 & Clarence Street, Sydney Valad Funds Management Crown Central P/L $350 24/06/2014 684 161-163 Ltd 307 Kent Street, Sydney 115-119 Bathurst Street, Sydney Kusu Investments P/L Greenland (Sydney) Bathurst $485 27/06/2014 3,740 Street Developments P/L 115-119 Bathurst Street, Sydney Kamirice P/L Greenland (Sydney) Bathurst $380 02/07/2014 410 Street Developments P/L 83-85 Clarence Street, Sydney YHA Ltd SAS Trustee Corporation $350 04/07/2014 611 15 Castlereagh Street, Sydney CF Building Services P/L Castlereagh Investments P/L $390 19/09/2014 156 580 George Street, Sydney CF Building Services P/L GPT Funds Management 2 $500 30/07/2014 300 P/L 168-190 Day Street, Sydney Hardie Holdings P/L Loflex P/L $400 31/07/2014 411 168-190 Day Street, Sydney AJ Richardson Properties Loflex P/L $400 31/07/2014 149 P/L 11 Alberta Street, Sydney Minh Hai Ta & Alberta Developments P/L $500 22/09/2014 910 Chi Thuyen Dong Ta 83-85 Clarence Street, Sydney SAS Trustee Corporation Farwell Investments P/L $400 27/10/2014 260

Note • Some HFS sales are without prices and some transfer dates are estimated. • The point of sale and exchange of monies may occur after the date of assignment. • $ND denotes price not disclosed.

6 SUMMARY OF HERITAGE FLOOR SPACE MARKET AS AT 31 DECEMBERATTACHMENT 2014 A Proposed Heritage Floor Space HFS award DA approved, conservation works outstanding, covenants not registered, fees outstanding. No. of DA’s lodged (since last update) 0 Total no. of DA’s approved for the award of HFS (not registered) since 2000 7 Total HFS approved * (not registered) 20,064 * includes recent amendments to DA’s

Heritage Floor Space Awarded HFS awarded and registered, conservation works completed, covenants registered, fees paid, stamp duty paid. No. of Registered Awards * 78 Total HFS awarded 306,405 Total HFS outstanding 50,008 * no. of awards includes awards from previous Transferable Floor Space schemes * total HFS outstanding fluctuates due to allocations * staged awards are counted once

Heritage Floor Space Required to be Allocated Development Applications that require the purchase of HFS No. of applications outstanding 11 Total HFS required to be purchased * 34,546 * this figure excludes Stage 1 DA’s which will require the purchase of HFS * excludes DAs approved before 2000 and not taken up in whole or part

Heritage Floor Space Sales from 1998 Average HFS Sales Recorded each Calendar Year from 1997 Year No. of Transactions Total sq.m Average Price per sq.m 2014 14 15,519.5 $413 2013 5 7,342 $331 2012 7 3,840 $382 2011 9 8,038.5 $359 2010 12 11,906 $379 2009 3 1,180 $351 2008 15 29,457 $427 2007 17 15,112 $398 2006 13 21,517 $464 2005 11 9,172 $423 2004 8 3,214 $531 2003 8 6,886 $511 2002 12 17,763 $436 2001 4 4,540 $520 2000 9 10,459 $395 1999 9 7,403 $627 1998 14 27,583 $587

* The number of transactions and amount of HFS transferred includes non-monetary transactions (eg. intercompany transfers) and the combined sale of a heritage building and the HFS awarded to it. The average price per square metre is based on HFS sales for which the price has been disclosed.

Disclaimer Further information Any data, representation, statement, opinion or advice expressed or implied in For further information contact Peter Blow, Strategic Planning this publication is made in good faith but on a basis that the City of Sydney, its and Urban Design Unit agents and employees are not liable (whether by reason of negligence, lack of tel: 9265 9619 care or otherwise) to any person for any damage or loss whatsover which has fax: 9265 9679 occurred or may occur in relation to that person taking or not taking (as the case may be) action in respect of data representation, statement or advice referred to email: [email protected] above. The City of Sydney reserves the right to revise previously published entries Internet: www.sydneycity.nsw.gov.au or totals without notice. Please provide your name, home/company address, contact © City of Sydney. All rights reserved. No part of this work will be translated, number, email address and a brief description of why you produced, modified, transmitted or stored in any form or by any means without require the information. This will help tailor future issues of the prior permission of the City of Sydney. Heritage Floor Space Update.