It’s one of Sydney’s most prized and valuable waterfront locations.
With views of Darling Harbour to the west and the Harbour Bridge to the north, it’s also a stone’s throw from The Rocks and the rest of the CBD.
But while gleaming new towers have sprung up around it, a $5 billion development planned at the site called Central Barangaroo has remained a dusty plain for a decade.
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That’s despite the announcement a long-awaited development approval had been granted in early 2025, which came with much fanfare and an estimate of construction starting late last year.
NSW Minister for Lands and Property Steve Kamper said in February 2025 it was time the “dust bowl” site was moved forward after being “stuck in the mud”.
It appears, however, Central Barangaroo is still stuck in that mud.
The 5-hectare mixed “living and lifestyle” precinct due to be built by Chinese-backed property development giant Aqualand has still not got off the ground 20 months later.
In fact, there has not even been a single brick-and-mortar plan lodged for the state government to consider. Early works on the site were approved in December but are as yet still pending.
To put in context the delays seen at the site, in the time since Central Barangaroo was first floated a new metro station underneath it was announced, built and opened.
Next door the city’s tallest building in Crown Sydney was completed in 2020 and next to that the three high-rise offices that make up the International Towers opened in 2016.
The lack of progress was highlighted in a viral Reddit thread this week, with the author calling the “unbuilt concrete slab” that is Central Barangaroo an “absolute blight on the otherwise gorgeous harbour”.
“This is an indictment on successive governments of both political persuasions and our bloated, slow moving bureaucracy that this isn’t finished or even started yet,” they wrote.
“16 years and it’s still a concrete slab.”
Final piece in puzzle
It has also agitated authorities including the state government, City of Sydney and Business Sydney whose chief Paul Nicolau said it was ”deeply frustrating”.
“Business Sydney welcomed the approval of Central Barangaroo in February 2025 … it was fantastic news for Sydney after a decade of delays and inaction on one of the most important development sites in the state,” he said.
“Central Barangaroo is the final piece of the Barangaroo puzzle. Its delivery is critical to unlocking the precinct’s full potential, creating jobs, attracting investment, boosting tourism and delivering significant economic benefits for Sydney.
“Yet (more than) 18 months after that announcement, work has still not commenced.
“That is deeply frustrating for a city that cannot afford to leave such a prime waterfront site under-utilised.
“It’s time to move beyond process and into delivery. Sydney needs certainty, action and a clear commitment to getting this project underway.”
The concept for Barangaroo – then called East Darling Harbour – being transformed from a shipping operations yard into a vibrant commercial and residential hub began back in 2003 under former premier Bob Carr.
First plans was approved in 2007 leading to the Central Barangaroo masterplan framework in 2013, and the bid process in 2015.
A site transformed
Since then the at-times controversial harbourside precinct has changed dramatically with new art spaces, parkland, high-rise buildings, fine dining and even a swimming spot being created.
A metro station was the latest piece of new infrastructure to open in 2024, but there could be another decade to wait until Central Barangaroo becomes reality.
ased on the timeline from early 2025, when construction was meant to take five years and be completed in 2030, the project might not be finished until 2032 at least.
News.com.au approached Aqualand for an update on the plans, which has been expected to include “several hundred” apartments, restaurants, bars, a hotel and open spaces.
There has been various iterations of plans for the site, with an initial vision for a 20-storey tower being opposed by residents and the local council. It also faced a legal stoush with nearby The Langham Hotel over a dispute about potential loss of views.
Latest plans for Central Barangaroo reach up to 10 storeys, while the former 20-storey tower at the northern end of the site was now planned to be only five storeys tall.
Central Barangaroo was originally owned by a consortium which included Aqualand, Grocon and Scentre – but only the former remains attached to the project.
‘Get on with the job’
On its website, Aqualand states: “Preliminary site investigations will commence in October 2026 to collect information about ground conditions that is required ahead of future development works.
“These will take around 3-4 months, and then early works can follow.
“While early works are underway, Aqualand will undertake design and then lodgement of further SSDAs for the basement, buildings and public domain which, subject to planning approvals, will commence after the early works are completed.”
It estimates 12,000 construction jobs would be created and $220 million worth of public benefits generated.
Ian Devereux, Aqualand Group head of development, said: “Aqualand’s vision for Central Barangaroo is to create a world-class living and lifestyle precinct as the vibrant heart of Barangaroo.
“The 5-hectare site will include residential, retail, hospitality and community uses, plus over 2 hectares of public open space and parkland, all complementing Barangaroo South and Barangaroo Reserve.”
In a statement to news.com.au, NSW Minister for Planning and Public Spaces Paul Scully urged the developer to “get on with the job”.
“The NSW Government has approved a concept design and a State significant development application for early works for excavation to begin on the site. The next steps are a matter for the proponent,” he said.
“I encourage the proponent to get on with the job of transforming the site.”
No State Significant development applications for buildings at the site have been lodged for the project.
heath.parkes-hupton@news.com.au
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