Transforming Castlereagh Street

The latest landmark investment for members

Cbus Property’s¹ latest historic transformation in Sydney’s CBD on Castlereagh Street is helping create an asset that supports the retirement savings of all our members across Australia.

Originally built in 1938, this famed heritage-listed building was the David Jones menswear store. It has now been transformed into a modern mixed-use development in Sydney’s Hyde Park precinct.

It also showcases one of the ways in which Cbus Property invests directly, at scale, on behalf of our members. All up, the project is estimated to have created around 3,770 direct and indirect jobs through construction².

Since Media Super merged with CBUS in April 2022, Media Super members have exposure to Cbus Property developments as part of a broader range of investment opportunities³.

The commercial offering, 121 Castlereagh

Completed in 2025, the original site has been transformed into 11,500 square metres of premium office space spread across six levels. Workspaces are connected by a central atrium that draws in natural light.

121 Castlereagh also links directly to Westfield Sydney, where Scentre Group has added a 6,200-square-metre retail extension.

The residential tower, 111 Castlereagh

The 21-storey tower comprises 98 luxury apartments and appears to float above the heritage art deco building. With exclusive amenities, podium gardens and spectacular views across Sydney Harbour and Hyde Park, the tower offers a premium inner-city living experience.

Apartments range from one-, two- and three-bedrooms, with a small number of four-bedroom Skyhomes. The building is now welcoming its first residents.

Bringing it together

The development now blends high-end retail and premium commercial space within the existing building, with the striking residential tower above. It’s also a world-class engineering feat.

It honours the site’s history by preserving the original sandstone and travertine façade, while transforming the interior.

What’s possible with Media Super

Castlereagh Street is an example of how your super is invested in opportunities that are often out of reach for individual investors. Projects like this require significant capital, and specialist planning and expertise.

While some people will consider investing in property individually, through Media Super your super is invested in a range of commercial, retail and residential properties.

Scale, diversification and expertise, all working together to deliver strong long-term returns and supporting your future.

¹Cbus Property Pty Ltd is a wholly owned entity of United Super Pty Ltd and is responsible for the development and management of a portfolio of CBUS's property investments.
²Based on the number of inductions as at 30 April 2026
³Cbus Property investments are part of the property asset class in the High Growth, Growth Plus, Growth, Conservative Growth, Conservative and Property investment options and these returns form part of the crediting rates allocated to accounts invested in these options.