NSW government is to sign a $1bn real-estate contract for an iconic Sydney landmark, as it looks to make it part of the state’s legacy.
The contract will see a $600m development being built by Australian developer WG Capital, which will take on the role of the heritage estate at the former Castle Hill railway station.
It is the largest development of its kind in NSW history and the biggest ever for the state.
“The historic precinct is a treasure chest of NSW heritage and the development of the site will be an exciting event for NSW citizens and visitors alike,” Premier Gladys Berejiklian said.
“This is a once-in-a-generation opportunity for NSW to become part of a historic precinct that has so much to offer and so many unique places to visit and enjoy.”
Ms Berejic said it was an exciting time for NSW, with many of its historic buildings being put to the test.
“We are creating a massive, global brand for NSW,” she said.
The Castle Hill Station was the site of a massive railway service in the 1840s and was the seat of the Victorian Government in 1874.
The Victorian Government was concerned about the impact the railway would have on the nearby Great Western Railway station, which was later closed to traffic after it was constructed in the 1920s.
It had originally been intended to have a new station on the site, but was scrapped because of concerns about the safety of the existing station.