Dexus has begun construction on a new $170 million mixed-use retail and dining project at the MLC tower in Sydney’s CBD.

With over 6,000 square metres of new and improved space across four levels, the new offering will feature retail, commercial and cultural spaces as well as a new tower entrance from Castlereagh Street, improving connectivity for workers and visitors.

The redevelopment also includes a revival of the Theatre Royal, with Dexus entering into a 45-year lease with the NSW Government. The 1110-seat theatre in King Street has been closed for about three years.

Dexus chief executive Darren Steinberg said: “We value the contribution from the NSW State government to assist in reopening the theatre which will improve the amenity in the precinct and add to Sydney’s night-time economy”.

The project partners include Probuild as the builder, Woods Bagot will be the architect and Harry Seidler and Associates will provide the peer review.

Penelope Seidler, director of Harry Seidler and Associates, said, “I am so excited about the design of the new works proposed for the MLC Centre. The integrity of Harry’s original architecture is to be re-established and contrasted with new geometries of internally illuminated glass. The MLC Centre will become the glowing core of the centre of Sydney.”

The revival of the MLC happens at the same time the new Martin Place metro station is undergoing construction. Set to “reimagine” public transport, the $380 million development will also include two new commercial towers.

The MLC redevelopment is expected to be completed by the end of 2021.

> Find out more about the MLC Centre

Photos care of Doug and Wolf.