00:00Sydney's skyline could soon be taken to new heights, with two new proposed buildings for
00:07the city's CBD slated to go more than 300 metres high.
00:11Lend Lease says its proposal for a 72-storey building, which will be able to accommodate
00:169,000 workers, will help transform the city.
00:19We are very, very keen to remove any of the red tape and bureaucracy that stands in the
00:25way of Sydney progressing.
00:26A big measure of that progress is big buildings being built in the middle of the city.
00:31So the red tape for many years has been the height limit in the city.
00:35Sydney Tower is the tallest structure in the city, standing at 309 metres.
00:41These new buildings are approved.
00:42One will be the same height and the other will be just four metres shorter.
00:46Cities are an expression of the aspirations of people.
00:50They are the built embodiment of society.
00:54And height has always been an expression of aspiration, confidence and indeed power
01:00in cities.
01:02The towers would be used as offices at a time when recent data shows persistently high office
01:07vacancy rates in the city centre.
01:09CBRE data from March showed that there's been an uptick in recent months in terms of the
01:14availability of office space.
01:15We're seeing rental vacancies start to come down, but it's been fairly stable over time.
01:20We're still not seeing office market rates coming back to their levels that they were
01:23at pre-pandemic, which reflects people still continuing to work from home.
01:27The plans for the proposed buildings will be discussed at a council meeting next week.
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