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Dominic Perrottet
Minister for Finance, Services & Property

Sirius Building: Fresh Start for Rocks Site

Minister for Finance, Services and Property Dominic Perrottet has welcomed the decision not to list the Sirius apartment building on the State Heritage register, flagging the Government's intention to divest the site to fund hundreds of new social housing dwellings.

Mr Perrottet said the Government would ensure the building is replaced with a landmark, world-class development that is subject to strict planning controls and complements the significant heritage in The Rocks.

"Frankly, the Sirius building is not at all in harmony with the harbour and heritage that surrounds it," Mr Perrottet said.

"Our city deserves better, and we now have a chance to deliver a building that genuinely complements our dazzling harbour, rather than sticking out like a sore thumb.

"More importantly, divesting this site is going to fund hundreds more new social housing dwellings for those vulnerable members of our society who need them.

"Given the current waiting list for social housing, it's not fair for the Government to just sit on valuable assets when we can make better use of them to generate housing for those who need it most."

The Sirius site is expected to attract bids of well over $100 million, with proceeds set to fund more than 300 new social housing dwellings. Proceeds from Millers Point properties to date have already funded more than 600 new social housing dwellings across the state.

In line with the Government's commitment to preserve and respect the heritage values in The Rocks, any building will be required to fit in with the character of the historical precinct.

Strict planning controls will require any development on the site to minimise impacts on views and vistas to and from public spaces and landmarks, and to consider building scale, form, design and impact on views to and from the harbour.

Prior to divesting the site, the Government will obtain a Stage 1 development approval that takes these and other applicable planning controls into consideration, as well as proposing materials to be used, such as brick and sandstone.

Property NSW will consult with the Office of Environment and Heritage in preparing the application, which will be guided by the current permitted development capacity.

The development application is expected to be lodged in the first half of 2017. Property NSW will now commence work on an appropriate disposal strategy for the site.