Economic Feasibility Assessment

The NSW Government commenced a review of the Macquarie Street East Precinct in 2018 with the appointment of former Prime Minister Paul Keating and former Chief Commissioner of the Greater Sydney Commission, and former Lord Mayor of Sydney, Lucy Turnbull to work together to develop a long-term vision for the historic Macquarie Street East Precinct on the eastern fringe of the CBD.

One of Sydney’s most famous streets, Macquarie Street is home to the NSW Parliament, Martin Place, the State Library of NSW, the Mint, Hyde Park Barracks and Sydney Hospital. It also borders the Royal Botanic Gardens.

In February 2021 the Review was released by the NSW Government, presenting a plan to revitalise Sydney’s under-utilised and overlooked “civic spine” by turning it into an arts and culture precinct.

The Keating-Turnbull Review found public recognition of the precinct’s historical significance is lacking, as is public use of the spaces and buildings. It recommended improving accessibility and linkages to the rest of the CBD, and creating a unified vision or brand for the area.

The Review recommended the precinct’s revival be completed in time for the 250th anniversary of the arrival of the First Fleet on January 26, 2028.

What we did

Atlas worked within a multi-disciplinary team developing masterplan options to progress the Precinct and contribute to a Strategic Business Case into the economic benefits to NSW.

In September 2022 the Prime Minister and NSW Premier announced that a public square named in honour of Her Late Majesty Queen Elizabeth II will be included in the Macquarie Street East Precinct revitalisation plans.