No heritage listing for Sirius Building

The Sirius apartment building in The Rocks will not be listed on the State Heritage register, NSW Environment and Heritage Minister Mark Speakman said today.

Sirius Building, The Rocks, Sydney

Listing the building would reduce the site’s sale value by many tens of millions of dollars (possibly in the order of $70 million), which would otherwise be used to fund many extra social housing units for the neediest in our community (approximately 240 extra if the additional sale proceeds were $70 million).

“I am not listing it because whatever its heritage value, even at its highest that value is greatly outweighed by what would be a huge loss of extra funds from the sale of the site, funds the government intends to use to build social housing for families in great need,” Mr Speakman said.

“This doesn’t mean a practice that money trumps heritage. Here there is a dramatic contrast between whatever heritage value Sirius has and what would be the huge loss of funds for getting people who need a helping hand off the social housing waiting list.”

The future development of the site would be subject to strict controls and Mr Speakman said he would strongly argue for any future building’s floor space to be restricted to what is currently allowed.