Sydney Olympic Park. Redevelopment of site

Property developer Capital Corporation has received approval for the redevelopment of AXIS @ Sydney Olympic Park, located at 2 Australia Avenue. This is the first site within Sydney Olympic Park to be converted from leasehold to freehold. Capital Corporation was able to successfully negotiate the conversion during the process of acquiring the adjoining 3115 square metres of land from Sydney Olympic Park Authority, on the corner of Australia Avenue and Herb Elliot Drive. The redevelopment is a master planned, three-stage, 40,000-square-metre commercial development. It will consist of two towers overlooking a central piazza and landscaped surrounds connected via common basement parking.