55 Pitt Street Office Tower, Circular Quay, Sydney, Australia

Sydney’s Circular Quay has its next big office tower at full height. Mirvac and Mitsui Fudosan Australia topped out 55 Pitt Street in mid-October 2026, a 55-storey premium-grade office building with roughly 63,000 square metres of commercial and retail space on a block with frontages to Pitt, Underwood and Dalley streets.

New York’s SHoP Architects and Australian practice Woods Bagot won the design competition for the site in February 2021. The tower is listed at about 238 metres, which puts it among the tallest buildings in the city.

Project Scope

The Urban Developer puts the development cost at A$600 million and the estimated end value at A$2 billion, the same figure Mirvac used when it sold a stake to Mitsui Fudosan in 2024. Mitsui Fudosan owns about two-thirds of the joint venture. That 2024 deal was Mitsui Fudosan’s first office investment in Australia.

Ten of the 55 storeys are set aside for amenity and alternative workspace rather than leasable floors in the usual sense, along with retail, recreation and hospitality. Mirvac has also promised a landscaped rooftop garden and restaurant, an operable facade for fresh air, end-of-trip facilities and a health and wellbeing centre. At ground level, laneways tie the building into a public plaza, and a podium of locally sourced sandstone with water features nods to the shoreline of Sydney Cove before European settlement.

The building is designed to be fully electric and run on 100% renewable power. Mirvac is targeting a 6 Star Green Star rating, 5.5-star NABERS Energy, 4.5-star NABERS Water and WELL Platinum, and set goals of up to 25% recycled content in major materials and 95% diversion of construction waste.

Leasing’s moving. MinterEllison signed on in 2024, and Baker McKenzie followed in February 2026, lifting precommitments to about 40% as the core passed level 40. Completion is expected in 2027.

Why It Matters

Topping out a speculative-leaning tower at 40% precommitted is a statement about Sydney’s core office market. Mirvac’s bet is that the best-located new space keeps winning tenants even while older stock sits empty, and two big law firms have backed that so far.

It’s also a test of how much amenity a premium tower now has to give away. Dedicating ten floors to non-traditional space is a cost the developer is carrying up front. The next 60% of leasing will show whether tenants pay for it.

Project Team & Details