A $365 million transformation plan has been submitted for the heritage-listed MLC Building in North Sydney, aiming to revitalise the iconic site by preserving its historic Miller Street wing while introducing a modern 22-storey commercial tower on Denison Street.
Originally designed by Bates Smart & McCutcheon and completed in 1957, the MLC Building was the first high-rise office tower in North Sydney and a significant architectural milestone in Australia.

However, its future has been the subject of extensive debate since 2020, when Investa first proposed its demolition. Following years of legal challenges and heritage assessments, the building was reinstated on the State Heritage Register in December 2023 after being briefly delisted.

Transformation Plan
The ambitious redevelopment project (DA/10.2024.00000387.001) seeks to honour the building’s heritage while introducing contemporary functionality and sustainability. Key aspects of the proposed transformation include:
- Preservation of the Miller Street Wing: The existing façade, including its iconic glass curtain wall and terracotta tiles, will be fully restored to its original aesthetic.
- Flood Mitigation Measures: Raising the ground floor to address recurring flooding issues from the Miller Street forecourt.
- Modernised Interiors: The addition of a double-height lobby with integrated retail spaces to enhance tenant experience and street appeal.
- Retail Activation: A new colonnade along Miller Street will host fine-grain retail spaces, while Denison Street will include additional retail offerings.
The redevelopment will introduce a 22-storey sustainable office tower in place of the Denison Street wing, designed to incorporate energy-efficient systems and meet NABERS sustainability benchmarks.


Challenges and Considerations
Despite the proposed upgrades, several challenges must be addressed, including:
- Infrastructure Compliance: The building requires significant upgrades to meet contemporary fire and seismic safety standards.
- Flooding Concerns: Existing drainage issues in the lower ground and basement levels remain a major challenge.
- Public Engagement: The inactive façades facing Brett Whiteley Place need activation to better engage with the surrounding urban environment.
- Traffic and Pedestrian Conflicts: The current vehicle access on Denison Street poses safety challenges due to its proximity to the new Metro station.
Stakeholder Collaboration
Investa has engaged with key stakeholders, including the Heritage Council of NSW, the North Sydney Council, and the North Sydney Design Excellence Panel.
These consultations have resulted in in-principle support for the transformation plan, with commitments to improving public access and ensuring the development aligns with heritage values.

Looking Ahead
North Sydney Council is now assessing the development application. If approved, the project promises to reinvigorate the MLC Building, enhancing the public domain, improving pedestrian safety, and positioning the site as a sustainable and commercially viable landmark.
Published 23-Jan-2025