23 February 2026
North Sydney Council has again confirmed delays and escalating cost pressures at the North Sydney Olympic Pool redevelopment, with no definitive completion date and continuing uncertainty around the final project cost.
A report to the 23 February 2026 council meeting states that while construction works are “substantially complete”, the contractor, Icon, has yet to apply for practical completion and a firm date remains undetermined. The contractual date for practical completion remains 19 July 2024, underscoring the extent of the delay.
Council anticipates practical completion may occur in March 2026, but this is contingent on testing, commissioning and regulatory sign-offs, including inspection by NSW Fire and Rescue. Even after practical completion, commissioning and operationalisation are expected to take a further two to three months before the facility can open to the public.
The project has generated 701 variation claims to date. As at 6 February 2026, 116 variations remain outstanding or unresolved, with a submitted value of $10.86m. Of these, 98 have been assessed but not agreed, and 18 are still under assessment. A further nine forecast variations valued at $352,000 are yet to be submitted. The report notes that further claims may still be lodged.
The revised construction contract sum stands at $93.6m, within a total project budget of $122m set in February 2024. However, the report warns that unresolved and pending variations, along with extensions of consultants and insurance, will place pressure on the allocated budget.
Since commencement in March 2021, the project has been marked by repeated delays, extension of time claims and escalating costs. Two further extension of time claims totalling 55 working days have recently been submitted and are under assessment. The superintendent has certified 326 additional days of liquidated damages to a value of $717,200, on top of 203 days previously certified at $446,000.
The continuing delay has also required extensions to external advisers. At its December 2025 meeting, Council authorised the chief executive officer to extend key consultants during the recess period under extenuating circumstances provisions of the Local Government Act 1993. Project management and quantity surveying contracts were extended, and the latest report foreshadows that further extensions into March 2026 may be required, with associated costs to be detailed in a confidential attachment. Council’s works insurance policy for the site may also need to be extended pending practical completion.
Operational preparations are continuing, including recruitment of senior staff and finalisation of operating policies, but these activities are occurring in parallel with unresolved commercial and contractual matters.
Councillors will not debate the detailed financial and contractual position in public. The report recommends that the meeting be closed under Section 10A(2)(c) of the Local Government Act 1993 on the grounds that disclosure would confer a commercial advantage and affect Council’s ability to obtain value for money services, and that the confidential report and attachments remain confidential unless Council determines otherwise.
With practical completion still undetermined, significant variation claims unresolved and no updated total project cost publicly confirmed, the redevelopment continues to carry financial and delivery risk nearly five years after construction began.