ISPT throws the doors open on $135m Tech Central development

Property funds manager ISPT has opened the first redevelopment in Sydney’s upcoming Tech Central, completing a $135m makeover of three heritage buildings set to host major events.

Property funds manager ISPT has thrown open the doors to the first redevelopment in Sydney’s upcoming Tech Central, completing its $135m makeover of 477 Pitt St.

The industry superannuation fund-backed developer has held the Haymarket property for just under 25 years since 1999, but began work on its new development in 2022.

The full project included the combining of three heritage buildings, including Australian Gaslight Co’s old showroom, which was used to launch Sydney Fringe Festival and will host events as part of the Austin, Texas music, cinema and tech festival SXSW as it ventures to Australia for the first time later this year.

The public space at 477 Pitt St.

The old space – which ISPT is calling the Collider – includes a dome-lit skylight on an ornate ceiling, which is available to tenants and partners to rent for private events with a capacity up to 250 people.

The other two buildings include Presbyterian House and Sydney’s first fire station, which form part of the lower levels open to the public. The completed product is a 30-storey building with 43,500sq m of offices, 1,850sq m of retail, with floorplates spanning up to 2,500sq m. The buildings sit in the middle of Haymarket and Capital Square light rail stops and are close to Central Station.

Haymarket forms one of six neighbourhoods including Surry Hills, Ultimo, Redfern, Chippendale and Eveleigh which make up the Tech Central precinct.

The ISPT building is home to a new public workspace accessible from its Pitt St entrance, which boast a 12m digital screen displaying art and a 19m custom-built collaboration tablet.

Inside 477 Pitt Street.

The building is already about 70 per cent occupied on the commercial front, with a number of tech companies, including hybrid cloud provider AC3. It is also home to Stone & Chalk’s new NSW government-supported six-level Scale Up Hub, which spans about 8000sq m. The new hub was built to help businesses grow, with a residency program which provides businesses the opportunity to network with potential investors.

Current residents of Stone & Chalk’s new hub include eCommerce marketing business yotpo, property start-up Downsizer and electronic 3D printing business Nano Dimension.

Other tenants include legal firm Moray & Agnew, fintech firm Hnry and Canadian manufacturing company BRP.

The Stone & Chalk hub is part of the NSW government’s commitment to 25,000sq m of affordable space for start-ups and scaling business in Tech Central.

The development leans toward new tech buildings with end of trip facilities, a wellbeing space for yoga and meditation, an open layout in the lobby and other communal areas.

A new rooftop terrace which has hosted several afternoon drinks sessions and events overlooks Belmore Park.

The terrace at 477 Pitt Street in Sydney’s Haymarket.

ISPT will continue to develop the building’s facade, which is expected to be complete by 2025.

Head of portfolio at ISPT, Nicole Ward, said the developer was looking to focus on transforming old buildings. “477 sits at the anchor point to Tech Central and is one of the first of these next-generation assets to reach completion within the precinct, allowing companies to establish themselves in one of the most innovative and progressive tech precincts in the world,” she said.

“This redevelopment of 477 reinforces ISPT’s commitment to creating places that inspire people to reach their full potential, adding value and diversity to the ways that people work, think and connect.”

ISPT is also working on a similar development in Melbourne at 500 Bourke St, where it has committed $150m.