A NEW 40-storey tower building rising to 170 metres above street level will be a city landmark for middle Sydney, says Bovis Lend Lease , just like Australia Square Plaza is for the northern part of the city.

Bovis Lend Lease, on behalf of Boyd Properties, is undertaking the design, project management and some development management of the major commercial building.

The building site is at 163 Castlereagh Street and extends through to Pitt Street consolidating five parcels of land.

The proposed tower and podium will have a total floor space of about 56,000 sq m.