Overview
- The latest estimate, confirmed by an RBA spokesperson, lifts the project from roughly A$260 million to about A$1.2 billion.
- An FOI release reported asbestos in all structural elements on every floor at levels four to five times expectations.
- A document cited by the Australian Financial Review says the bank has already committed A$539 million to the redevelopment.
- Heritage protections and the presence of critical financial infrastructure complicate remediation and redesign.
- The project is currently forecast to finish in 2031, and the governance board is reportedly considering selling the Martin Place building.