Mulpha Australia receives green light for 17-Storey hotel redevelopment in Sydney
New hotel project to transform historic warehouse into a vibrant destination in Sydney's CBD
Property and hospitality group Mulpha Australia has received development approval from City of Sydney Council to redevelop 355-357 Sussex Street, Sydney into a 17-storey lifestyle hotel, comprising 272 hotel rooms together with ground floor restaurant and bar facilities.
Originally a warehouse building circa 1916, the new development will partially retain the existing 5-storey building, including the existing heritage façade, and many elements which contribute to its character as a remnant building of a bygone era.
The hotel’s location at the southern end of Sydney’s CBD places it within walking distance to nearby to a range of key tourism attractions, including Darling Harbour, the Powerhouse Museum, the International Convention Centre, World Square shopping district and the Chinatown precinct.
Mulpha CEO Greg Shaw said he was thrilled to receive approval for the development.
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This new age hotel will contribute to the ongoing rejuvenation of the southern CBD into one of the most vibrant areas of Sydney for visitors, residents and workers,” he said.
“With the strong rebound in both domestic and international tourism, it is vital that we have shovel-ready projects to grow accommodation capacity and meet demand. Sydney is leading the way in the Australian accommodation industry with strong occupancy levels set to increase further as the international market exceeds pre-Covid levels in 2024 and beyond.
“As the gateway to Australia, more quality hotels will reinforce Sydney’s status as a global centre for business, finance and education, while supporting the construction sector and broader economy”.
The new hotel development will add to Mulpha’s existing Australian hospitality and tourism portfolio which includes InterContinental Sydney, InterContinental Sanctuary Cove Resort, InterContinental Hayman Island, Bimbadgen Winery Estate and the upcoming Palmers Lane Retreat in the Hunter Valley, which is due to open in October 2023.
“This investment continues Mulpha’s long-term commitment to acquiring and developing high quality tourism and hospitality assets in key Australian destinations. We are advancing negotiations with global hotel operators to introduce new innovative hotel product for the Sydney market,” Mr Shaw added.
Construction on 355-357 Sussex Street is expected to commence in the first half of 2024 with completion expected in mid-2026.
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