By Aimee Chanthadavong

The NSW Department of Planning is currently assessing a $425 million proposal for the redevelopment of Wynyard station.

Minister for Planning, Tony Kelly, said in a statement that the concept plan proposed by Thakral Holdings will be assessed under Part 3A of the Environmental Planning and Assessment Act.

“The proposal meets the statutory criteria to be assessed under Part 3A because it’s a commercial development associated with railway infrastructure worth more than $30 million,” he said.

“As such, this proposal is coming to the Department of Planning for assessment, rather than the Central Sydney Planning Committee (CSPC).”

The proposed development involves the demotion of existing buildings on the development site; major works to Wynyard Station; a new 29-store office building; five levels of retail that will be linked to the station concourse; and the upgrade of the public domain.

Speaking to Retailbiz, John Steward Hudson, Thakral managing director, revealed it involves 10 years worth of planning.

“This redevelopment is all about the access to the station. At the moment with the ramps at the station it’s not exactly what you call 21st Century and we want to bring it up to that sort of level,” he said.

“Also, we have the best site in Sydney sitting right above the main railway and the current properties just don’t it justice.”

As part of the assessment, the proposal will be subject to a rigorous assessment including a 30-day public exhibition period.