Singapore group to build Sydney’s tallest hotel
Singapore-based SC Capital has unveiled plans for a $700 million mixed-use hotel and office tower in the heart of Sydney for which it will seek investors later this year.
The funds manager has won approval for a dramatic 55-storey project at 4-6 Bligh St, with global firm Woods Bagot winning the architectural competition.
The luxury project is one of a wave of new hospitality-inspired developments proposed for Sydney, including the Dexus/Perron scheme for 201 Elizabeth Street and plans by bar tsar Justin Hemmes for a $1.5 billion multistorey development adjoining his Ivy party palace.
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The proposed skyscraper will rise 226 metres, making it the city’s tallest hotel. The 400-room property will be run by Hyatt as an Andaz hotel, complementing the chain’s Park Hyatt Sydney.
The tower, slated to be completed in late 2022, is pitched as the first major international-standard hotel to be developed in the city’s core financial precinct for more than two decades.
The site is now occupied by the 17-storey office building Bligh House. It will be replaced by the new project’s office podium with the hotel rising above it.
The design competition, run by Urbis under City of Sydney rules, is the final piece in the puzzle for the site, which SC Capital and local manager Fortius picked up for $68 million in 2015.
The Woods Bagot design calls for a luxury lifestyle hotel and office tower that reflect the city location and set a tone for new buildings in the area.
SC Capital Partners Group chairman Suchad Chiaranussati says the group has a vision for Sydney’s pre-eminent luxury lifestyle hotel and office development, offering guests and occupiers a place to “stay, work and play” within the prime financial precinct.
“Sydney is Australia’s number one tourist destination and commercial capital,” he says.
“However, hotels are generally dated and well below expectations by global gateway city standards — 4-6 Bligh St will set the new benchmark in Sydney’s hotel landscape.”
The tower will be topped by a rooftop restaurant and bar with panoramic views of Sydney Harbour, the heads and parklands.
This article originally appeared on www.theaustralian.com.au/property.