'Silicon Valley of Australia': Sydney set for ground-breaking tech hub with new Atlassian HQ

Plans for a multi-million-dollar technology hub in the centre of Sydney have been unveiled, with the premier declaring the precinct will be the "Silicon Valley of Australia".

The world's tallest hybrid timber building will be the new headquarters of Australian tech giant Atlassian, and home to thousands of technology workers when it opens in 2025.

"Tech Central will be the Silicon Valley of Australia," Gladys Berejiklian said today.

Atlassian, founded by Scott Farquhar and Mike Cannon-Brookes, who are now two of the country's richest entrepreneurs, said the building will operate on 100 per cent renewable energy from day one.

The precinct has been designed by New York architects and is aiming to employ 25,000 workers.

Mr Farquhar and Mr Cannon-Brookes are worth more than $10 billion each at age 40.

The founders met at the University of NSW and financed their company with a $10,000 credit card debt.

Now it's a global tech giant worth $50 billion and employing 3600 staff.

The train station location of the company's new headquarters provides opportunity, Mr Farquhar said.

"You can get a job in technology no matter where you live in Sydney, whether you're in Surry Hills, Cronulla or Penrith," he said.