Plans are in motion to redevelop a prominent Sydney CBD site overlooking Hyde Park.

A Stage 1 Development Application has been submitted by Francis Jones Morehen Thorp (FJMT) for a new $400M tower at 201 Elizabeth Street Sydney, currently home to the 1978-built Hyde Park Square building.

As part of the proposal, the existing modernist building will be torn down and replaced by a skinnier tower located to the north of a wide commercial podium.

The development is predicted to reduce overshadowing onto Hyde Park by 50 per cent and improve view sharing for buildings behind on Castlereagh Street and beyond.

Importantly, the development would reduce overshadowing on the ANZAC War Memorial located in Hyde Park, which is currently undergoing a transformation by JPW Architecture and is set to become a significant landmark for the city.



The proposal also has the tower sitting within the profile of ANZ Tower located behind the Hyde Park Square building on Castlereagh Street when looking from the ANZAC Memorial to reduce its visual impact.

The DA is Stage 1 and has been submitted ahead of a competitive design process which will include involvement from a minimum of five design teams.

The winning applicant is expected to submit a Stage 2 DA later in the year.