Sydney's MLC Centre is set for a mixed-use transformation after Dexus announced it would be adding  retail, dining, cultural and commercial spaces to the precinct.

The circa $170 million project will deliver approximately 6,000 square metres of new and improved retail space across four levels and is supported by the existing office tower.

The new investment follows the recent tower façade revitalisation project that ensured the building remains a landmark for decades to come.

The new retail offering will include:

• New luxury and premium retail to Castlereagh and King Streets
• A new plaza food and beverage precinct fronting onto Martin Place and a mix of retail and service providers within the building core
• A new commercial tower entrance will be established from Castlereagh Street, improving connectivity for workers and visitors

The redevelopment also includes plans to revive the Theatre Royal with Dexus entering into a 45-year lease with the NSW Government, paving the way for a private theatre operator to run the theatre.

Dexus CEO, Darren Steinberg said the theatre will add to Sydney's night time economy.

“We value the contribution from the NSW State Government to assist in reopening the theatre which will improve the amenity in the precinct," he said.

The next evolution of the MLC Centre will build on architect Harry Seidler’s design principles and plays on the geometry of the existing forms around the base of the tower to deliver a unique experience and revitalised public spaces. 

Harry Seidler and Associates Director Penelope Seidler said the centre was set to become the "the glowing core" of Sydney. 

“I am so excited about the design of the new works proposed for the MLC Centre," she said.

"The integrity of Harry’s original architecture is to be re-established and contrasted with new geometries of internally illuminated glass."

MLC Centre is jointly owned by Dexus and Dexus Wholesale Property Fund (DWPF) and the building is managed by Dexus. The project partners include Probuild (Builder), Woods Bagot (Architect) and Harry Seidler and Associates (peer review).

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

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