Aussie tech gurus will build a stunning $1BILLION HQ in the heart of Sydney – and the 40-storey building will made out of WOOD as the company races to be carbon-neutral by 2050
- Tech company Atlassian is set to develop a 180-metre tower in Sydney’s CBD
- Building is part of government’s plans to build a tech and innovation precinct
- The tower is expected to be the largest timber structure in the country
- It will reportedly be built near Central Station, above the YHA hostel
Atlassian is set to build a record-setting $1billion tower in Sydney’s CBD as part of its joint venture with the NSW Government to develop an ‘innovation and technology precinct’ in the city.
The 180-metre-tall building of up to 40 storeys will be situated near Sydney’s Central Station and will be the tallest timber structure in the country once completed.
The tech giant has not publicly announced the development but the Financial Review reports the company has included it in its 15-year plan to develop the precinct.
The building will also count towards the company’s goal to reach net zero carbon emissions by 2050.
The 180-metre-tall building of up to 40 storeys will be situated near Sydney’s Central Station and will be the tallest timber structure in the country once completed. Pictured: A generic design from the government’s plan for the tech precinct
Financial Review reports the tower will be built on 8-10 Lee Street, Sydney, currently occupied by the YHA hostel
Project details are being kept under wraps but the tower will reportedly be built above the current YHA hostel on Lee Street – which will occupy the first five floors.
Some 2,500 square metres will also be reserved for retail and lobby space, according to the publication.
Atlassian, founded by Mike Cannon-Brookes and Scott Farquhar, was named co-creator of the government-funded project in 2018, when NSW Premier Gladys Berejiklian unveiled plans for a tech hub in Sydney.
‘A NSW Government taskforce, headed by Jobs for NSW chair David Thodey, will be created to lead design and development of the new technology and innovation precinct, stretching from Central to Eveleigh,’ Ms Berejiklian said at the time.
Atlassian, founded by friends Mike Cannon-Brookes (left) and Scott Farquhar (right) was named co-creator of the government-funded project in 2018
‘This will cement Sydney as the technology capital of Australia and create more secure jobs. Central to Eveleigh is already home to Australia’s largest cluster of start-up firms. We want to use that as a base to grow new jobs and new businesses.’
The initiative is expected to create 10,000 new jobs over the next 16 years.
Atlassian also released a statement at the time of the announcement, calling it a ‘huge step forward’ for Australia’s tech industry.
‘We just sent a very loud signal to the rest of the world that we’re open for business and in the race for the biggest industry on the planet,’ Mr Farquhar said.
Atlassian propelled the two entrepreneurs to the Rich List stratosphere and was listed on the NASDAQ with a market capitalisation of US$25billion in 2015.
Cannon-Brookes and Farquhar, both 40, each have a reported net worth of US$10billion, according to Forbes.
Daily Mail Australia has contacted NSW Investment for comment.