Fresh plan for Sydney’s City Tattersalls Club
Chinese-backed developer ICD Property and the City Tattersalls Club have lodged fresh plans for a 49-storey mixed-use project in Sydney’s Pitt Street, more than a year after their first scheme was rejected.
The NSW Land and Environment Court in May 2017 rejected plans for a $200 million redevelopment of the club’s Pitt St home on heritage grounds.
While those plans for a boutique 100-room hotel and 267-apartment tower were ruled out, the club’s new plans aim to protect the heritage elements in the club buildings.
Commercial Insights: Subscribe to receive the latest news and updates
Architects fjmt have prepared an indicative design scheme that would see the 123-year-old club redeveloped into a four-star boutique hotel, with about 100 rooms and a 246 apartment residential tower.
City Tattersalls Club chief executive Marcelo Veloz says the club and ICD Property has gone back to the drawing board after their earlier development application was declined.
“The proposed internal reconstruction of the club and the new hotel and residential tower for this site will be spectacular and a fitting innovative addition to the heart of our city,” Veloz says.
The project marks ICD Property’s first venture into Sydney after it developed projects in Melbourne including residential high-rise Eq Tower, and its ongoing work in land subdivision at its Gen Fyansford estate in Geelong, as well as 65 Federal St, a mixed-use tower in Auckland.
The previous plan for a 168-metre tower required the demolition of the existing building at 196 Pitt St and the partial demolition of some heritage elements at 194 and 198-200 Pitt St.
Before the deal with ICD, the club terminated an earlier $200m redevelopment proposed with Mirvac after the two groups and banker ANZ could not agree on funding.
Other groups also showed interest, including David Jones owner Woolworths and private developer TOGA.
Woolworths has since sold the venerable David Jones menswear store in Market St to local Westfield mall owner, the Scentre Group, and developer Cbus Property, for $360 million.
This article originally appeared on www.theaustralian.com.au/property.
