While tenancy details remain confidential, it is believed rents at 88 Walker Street have been inked at more than $1,300 per square metre, per annum, a record for the satellite CBD.

“We are delighted at the completed tower, delivering such a substantial innovative project and contributing to the ongoing transformation of North Sydney,” Saul Moran, development director planning and design at Billbergia, said.

A signature element of the design is its cantilever, which enables the building to sit suspended above the Firehouse Hotel and increases the floor space from around 4000 square metres to more than 22,800 square metres.

“The site provided just 617 square metres of terra firma, so delivering a development of this calibre required us to develop innovative solutions. We were also limited by the amount of onsite storage and the site’s proximity to neighbouring buildings,” Moran said.

Guests at Citadines Walker will enjoy a range of upmarket rooms, including four top-floor Premier Suites complete with kitchenettes. A full-service restaurant and bar within the complex is tipped to open its doors in the new year.

David Mansfield, managing director of The Ascott Limited, Australia, said prime North Sydney CBD location of Citadines Walker “provides a powerful reinforcement of the brand’s growing relevance in the local corporate travel market, and represents a milestone moment for Citadines in Australia”.

As part of the revitalisation of the area, the North Sydney Council has focussed on improving the laneways to provide new pedestrian connections.

Paul Reidy, Partner at fitzpatrick+partners said the building “marks the dawn of a new era for North Sydney”.

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“The 88 Walker site in stark contrast to the conventional and box-like forms of the older buildings that have characterised North Sydney,” Reidy said.

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