New Sydney Fish Market Faces Contractor Collapse in Blackwattle Bay

The redevelopment of Sydney Fish Market at Blackwattle Bay has encountered a financial setback following the collapse of a key construction contractor.

Background and Progress

The new Sydney Fish Market at Blackwattle Bay was designed by the Danish firm 3XN. They designed it alongside BVN and GXN Innovation. It reached a significant structural milestone with its 200-metre-long floating canopy. The roof, comprising 594 timber beams and 400 aluminium cassettes, is now recognised as the largest timber canopy in the southern hemisphere.

Sydney Fish Market delays — *Photo Credit: New Sydney Fish Market*

Originally announced in 2018 and approved in 2020, the $836 million redevelopment aims to revitalise Blackwattle Bay through the addition of 26,000 square metres of retail, dining and public space. The project forms part of a broader urban renewal plan, including a waterfront promenade and over 1,100 new homes.

Financial Setback and Administration

The project’s timeline has been disrupted after Sharvain Facades, a key contractor responsible for the roof’s construction, entered voluntary administration. The firm previously worked on several high-profile façades in Sydney, including the Chau Chak Wing Building. In October 2024, Sharvain Facades reportedly received a $16 million loan from Multiplex, the main contractor, to support its role in the project.

Despite the financial assistance, increasing cost of labour and materials and delays led to the company’s collapse. Multiplex has since called for government support as overall project costs rose from an initial $750 million to $836 million.

Blackwattle Bay development — *Photo Credit: New Sydney Fish Market*

Design and Functionality

The roof’s completion marked a shift from structural work to interior finishes. Designed to reflect traditional market layouts, the building features glass-surrounded ground floor operations including fish landing, wholesale activities and auction areas. Above, public spaces such as restaurants and retail outlets are accessible via plaza-linked auditoriums overlooking the harbour and Anzac Bridge.

Sustainability features of the structure include daylight access, natural ventilation, rainwater harvesting, and solar readiness.

Sydney Fish Market constructor collapse — *Photo Credit: New Sydney Fish Market*

Community and Urban Impact

Intended as a public destination, the new market integrates working fish trade facilities with tourism and community areas. The redevelopment also aims to improve pedestrian and cycling connections across the harbourfront.

Although the collapse of Sharvain Facades has caused uncertainty, the project continues toward its target completion in 2025.

Published 10-Apr-2025