Property & Development NSW (PDNSW) provides advisory services to Place Management NSW(PMNSW) for the delivery and construction phase of The Ribbon / IMAX Cinema redevelopment at Darling Harbour. This includes PMNSW's obligations under the Agreement for Lease (AFL).
PDNSW is currently working with PMNSW and Public Work Advisory to ensure the continuation of construction works on site. Practical completion of The Ribbon and IMAX Cinema and the public domain and PMNSW building works is estimated to occur in 2022.
Key strategic objectives:
- Delivery of public open space and additions to the PMNSW building
- Delivery of high-quality tourist accommodation within the CBD
- Mitigation and management of critical risks to ensure the landowner (PMNSW) and investor/lessee’s obligations are met under the AFL.
What is proposed?
The leasehold redevelopment of the IMAX building includes:
- construction of a 30-storey building, including a hotel, serviced apartments, retail and entertainment space and a separate two-storey PMNSW building
- realignment of Wheat Road;
- upgrade to the surrounding public domain, including a new playground and the relocation of heritage items; and
- installation of a City Screen and signage zones.
PMNSW, as landowner, has engaged PDNSW as project manager to liaise with the investor and builder and ensure both the lessor (PMNSW) and the lessee’s obligations are met under the AFL.