This was published 5 years ago
Fish Market redevelopment costs blow out by $500 million
By Jacob Saulwick and Lisa Visentin
The cost to taxpayers of developing a new Sydney Fish Market has increased by half a billion dollars the Berejiklian government revealed on Thursday while saying it would soon place detailed plans for the project on public exhibition.
Premier Gladys Berejiklian and Planning and Public Spaces Minister Rob Stokes said the government has approved a $750 million investment in the Fish Market project, which involves relocating the markets from the current site to the head of Blackwattle Bay.
Two years ago the government announced a $250 million investment in the project, though last year it said the cost would probably increase beyond that.
The existing fish market site will also be redeveloped, likely with apartments. The funds gained by developing the existing site will be used to offset the cost of the new fish markets.
“This redevelopment is going to completely change this part of Blackwattle Bay [and] this part of the CBD and we are really excited by what this means,” Ms Berejiklian said at an announcement at the Fish Markets on Thursday morning.
An artist's impression of the eastern entrance of the new Sydney Fish Market to be built on Bridge Road, Blackwattle Bay.
“It is a significant investment, but well worth it,” Ms Berejiklian said.
“This is welcome news after many, many years of hopeful and wishful thinking.”
Mr Stokes said: “Sydney deserves a great, beautifully designed fish market to rival the fish markets in global cities like Tokyo or San Francisco Bay”.
Danish architects 3XN along with the Sydney-based BVN and Aspect Studios designed the new building. The project also includes significant changes to the foreshore in the area, intended to open up public access. “As a result of this development people will be able to walk all the way from Glebe to Woolloomooloo along Sydney’s foreshore,” Mr Stokes said.
The government said significant development applications would soon be placed on public exhibition. One will cover the demolition of the existing markets and wharves, the other the construction of the new facility. The new fish market is expected to be opened by 2024. The plan is for the new market to open before the existing market closes.
The government says no decision has been made about how the existing fish market site will be redeveloped.
In relation to the increased cost, Ms Berejiklian said: “The scope has changed significantly … we’ve made sure we have increased the scope so that it does become an iconic place”.