Lendlease's Victoria Cross Tower, the company's signature office project in North Sydney, is about to start construction.

As the area's revival proceeds, the 42-story office skyscraper rising above North Sydney's new Metro station will serve as the cornerstone of a brand-new business and retail district. Before the year is out, the work will begin.

Lendlease said the tower would “represent the latest global thinking in place creation and workplace experience, offering a modern and sustainable space that promotes collaboration, flexibility, and innovation”.

Victoria Cross Tower, a component of the Sydney Metro integrated station development, will be a nett zero carbon structure, powered entirely by renewable energy sources, and is aiming for a Platinum WELL and 6-Star Green Star rating.

The premium-grade tower, designed by Bates Smart, has a large lobby and multipurpose hub space, as well as outdoor balconies and green areas.

The entrance opens to a retail-activated alley on the bottom floor where more than 20 retail and hospitality establishments are designed to serve guests, locals, and employees.

According to predictions, Victoria Cross Station will make North Sydney's CBD one of the city's most easily accessible commercial districts by slashing travel times to locations like Martin Place and Barangaroo to just a few minutes.

The leading Australian office fund of Lendlease, APPF Commercial, owns 25% of Victoria Cross Tower. According to a spokeswoman, the fund would keep up its industry-leading sustainability focus by making the skyscraper the first fully electric building in its portfolio.

“Constructing the $1.2-billion precinct will see the building rise approximately one floor each week,” they said.

“The project will support around 5000 jobs with 90 per cent of the workforce local to the Sydney area.”

Up to 7000 employees will be able to work in the approximately 58,000 sq m of office and retail space after Victoria Cross Tower is finished.

It is anticipated to be finished in 2024. Southwest and Sydney Metro City, the new train routes, are scheduled to launch the same year.

The North Sydney CBD is undergoing change, according to Tom MacKellar, general director of development at Lendlease, and "connectivity will be key with the introduction of Sydney Metro’s new Victoria Cross Station."

“Victoria Cross Tower will stand at the centre of this transformation, in what will be a thriving new round-the-clock precinct, breathing new life into North Sydney,” he said.