Redevelopment of 65 Martin Place

The Reserve Bank of Australia (RBA) is undertaking a major redevelopment of its Head Office at 65 Martin Place in Sydney.

Initial works revealed that the building contains four to five times more asbestos than typically found in buildings of its era. The extent of this contamination, which was not fully appreciated until 2023, requires the building to be stripped back to its steel frame to ensure safe and complete removal.

In addition to the asbestos issue, the current building structure does not meet building codes, is energy inefficient, and no longer fit for purpose. After careful analysis of all available options, the RBA has determined that retaining ownership and undertaking a full remediation and refurbishment is the most responsible and cost-effective long-term solution.

Due to its central city location and the public interest in the redevelopment, documents about the project can be found below.

Documents:

1. FOI request RBAFOI-232450 - 7 May 2024 – ‘The latest update provided to the Governor about the 65MP Project to renovate the Reserve Bank’s Head Office building at 65 Martin Place, Sydney’.
2. Development Application documents relating to the removal of hazardous building materials including protection and/or salvage of heritage significant fabric, and associated temporary construction works and street tree pruning.
   1. Heritage Impact Statement
   2. Asbestos Management Plan – document 1
   3. Asbestos Management Plan – document 2
   4. Statement of environmental effects
   5. Link to all documents on City of Sydney website
3. Preliminary Documentation Additional Information Request EPBC (2024/10052) 41.5MB
4. August 2025 – 65 MP Project Update