New public square named after Queen Elizabeth II to be built in Sydney's CBD

A new public square named in honour of Queen Elizabeth II will be built in Sydney's CBD, with work to begin by the end of this year.

Parts of the NSW Registrar-General's Building, on Macquarie Street, will be demolished to make way for an outdoor space connecting to the Domain parklands.

Premier Dominic Perrottet said a monument of the late monarch would be erected in the square, which will be known as Queen Elizabeth II Place.

He said its addition to the city would ensure future generations "will always know the dedication, passion and service that she carried out for the people of New South Wales and Australia".

"We will have this great plaza opened up for the people of New South Wales," Mr Perrottet said.

"To enjoy, to appreciate but most importantly to remember the service and dedication of Queen Elizabeth to the great people of New South Wales."

NSW government animation shows extensive Macquarie St East revitalisation plans which will include the Queen's space.

The Premier said the project would also form part of a 20-year plan to revitalise the heritage-listed precinct, making it a tourist attraction.

He said the sections of the Registrar-General's Building to be knocked down were an annexure to the historical precinct added in the 1970s that "should never have been built in the first place".

Prime Minister Anthony Albanese said the "visionary project" was an "an appropriate and fitting tribute" to the Queen.

"We need to make the most of the parkland that is here ... in The Domain leading down to the botanic gardens and down to the harbour foreshore," he said.

"This is a visionary project and I congratulate the Premier on coming up with this idea... this is a great global city, and we need to make the most of it."

Sydney MP Alex Greenwich supported the project as one he said would add to the investment in the city's CBD still recovering from lockdowns.

"And this place will be something that all Sydneysiders will be extremely proud of, and will really be able to reflect on the legacy and the contribution of Queen Elizabeth the second when they are here," he said.

Mr Perrottet said he expected construction to begin by the end of 2022.