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- CIMIC’s (CIM) subsidiary, CPB Contractors, has been confirmed as the builder of the new 39-storey commercial development in Sydney’s CBD
- The development, known as Parkline Place, consists of the design and construction for a premium office building above the Metro Pitt Street Station’s north entrance
- Work will begin this year and is expected to be completed in 2024 with work to generate $368 million in revenue to CPB
- CIMIC is down 1.20 per cent on the market with shares trading at $19.69 each
CIMIC’s (CIM) subsidiary, CPB Contractors, has been confirmed as the builder of the new 39-storey commercial development in Sydney’s CBD.
The development, known as Parkline Place, consists of the design and construction contract for a premium office building located above the north entrance to Sydney Metro’s Pitt Street Station.
It was awarded by Oxford, MEA and Investa, all of which are partners of Parkline Place.
“CPB Contractors is pleased to secure a further opportunity to work closely with Oxford Properties, MEA and Investa in delivering another landmark building in Sydney’s CBD,” CPB Managing Director Jason Spears said.
“It is a welcome addition to the portfolio of city-shaping projects CPB Contractors is delivering across Sydney.”
Additionally, CPB is already delivering the $463 million Pitt Street Station contract and was confirmed as the builder for the $150 million build-to-rent building above the station’s southern entrance earlier in the year.
“This contract furthers the CIMIC Group’s involvement in the delivery of Sydney Metro’s City & Southwest project and its associated building projects,” CIMIC’s Executive Chairman and CEO Juan Santamaria said.
“CPB will work closely with its clients and stakeholders to ensure that the building and station function seamlessly and that the new building is safely delivered to schedule.”
Work will begin this year and is expected to be completed in 2024 with work to generate $368 million in revenue to CPB.
CIMIC was down 1.20 per cent on the market with shares trading at $19.69 at 2:28 pm AEDT.
