News, Deals & Awards

Ashurst has advised the NSW Government on the unsolicited proposal by Macquarie Group ('Macquarie') to design and deliver a new station development in Martin Place, Sydney’s first integrated metro station development, with office space and a vibrant retail and recreation precinct.

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Under the agreement, Macquarie, together with its design and construction contractor Lendlease, will deliver the new underground Martin Place metro station integrated with a retail and recreation precinct, two new office towers and the existing Martin Place railway station. More than 2,500 jobs will be created during the construction phase of the project.

Ashurst co-lead partner Olivia Lau (Projects) commented: "The firm is delighted to have advised Sydney Metro on this critical component of Sydney's transport future. It involved significant legal complexity and we are pleased to have assisted Sydney Metro in the agreement with Macquarie as an important part of the larger Sydney Metro project."

Ashurst co-lead partner Angus Foley (Projects) commented: "We would like to congratulate Sydney Metro on its entry into this innovative agreement with Macquarie. It is a transformational integrated station development, which will greatly enhance the public transport landscape of Sydney." 

Ashurst co-lead Partner Krista Payne (Projects) commented: "The signing of this contract is a landmark moment for the Sydney Metro City & Southwest project. The design for the integrated station development is an excellent result for the community and we are very proud to have advised Sydney Metro throughout the unsolicited proposal process. Congratulations to all those involved."

Ashurst advised the NSW Government on the unsolicited proposal and negotiated interrelated project deeds for the delivery of the Martin Place metro station, together with two commercial towers, and a retail, dining and lifestyle hub.

The approval of Macquarie’s proposal, which was made under the Department of Premier and Cabinet’s Unsolicited Proposal process, means that Macquarie is responsible for delivery of the development by 2024. 

Angus Foley, Olivia Lau and Krista Payne (partners) co-led the project and were assisted by senior associate Laura Hillhouse, and lawyers Marya Atmeh, Joshua Lee, Caitlyn Read and Rhiannon Evans (Projects).

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