Fans of the art deco building, which hosted the retail giant for more than 80 years, will be pleased to hear the heritage facade will be retained, with a new central atrium created to house commercial and retail spaces.

111 Castlereagh is the residential component of the 22-storey mixed-use development by Cbus Property, which comprises 11,500 square metres of premium-grade office space, a 9500-square-metre extension of Westfield Sydney.

Boasting views of Hyde Park and Sydney Harbour, the residential tower will have two levels of rooftop gardens and communal amenities that include a private dining room, a multifunction space with a catering kitchen, several terraces, a secure, climate-controlled wine cellar, a gym and yoga deck, and a heated open-air pool with a deck and sun lounges.

The individual apartments will be equally impressive with the four-bedroom skyhomes “elevated in status and expansive in design”.

Lina Sjogren, head of interiors at fjmtstudio says buyers can expect bespoke joinery, a curved main bathroom wall and sculptural free-standing bath, custom-designed tapware, a curved island bench, herringbone oak timber flooring and Sub-Zero and Wolf appliances.

Cbus Property’s chief executive officer, Adrian Pozzo, says strong demand for premium, house-sized residences within Sydney’s CBD was evident with the sale of The Penthouse Collection for $66 million prior to the project’s launch.

“The Skyhome Collection presents another remarkable opportunity to live at 111 Castlereagh,” he said, noting that one of the four skyhomes had already been snapped up.

“Our buyers are not only being drawn to the exceptional quality, extraordinary design and prestige of 111 Castlereagh, but also the proximity of retail and dining, while also seeking an oasis amongst the bustle of the city.”

Downsizers make up the majority of buyers, attracted by the generous floor plans and hotel-like amenities.

The pet-friendly development will include concierge services and an automated valet.

Fine dining restaurants, lively bars, beautiful parks and a smorgasbord of retail offerings are all within walking distance.