New six-star hotel planned for Sydney’s Phillip Street
Private property developer Built is looking to join Sydney’s hotel boom and has submitted plans to the NSW government for a six-star hotel that it would develop on a site adjoining the city’s historic Chief Secretary’s Building.
The company is seeking to develop two Phillip St buildings, one of which is owned by the government and the other that it owns, into a hotel, using the state’s unsolicited proposal process.
The state process has drawn fire as it allowed Crown’s casino complex at Barangaroo South and Macquarie’s dual tower office proposal above Martin Place metro station without tenders.
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The planned hotel would join a series of new projects in the area that draw on Sydney’s historic sandstone buildings.
The Lands and Education Buildings are being redeveloped by the Pontiac Land, which is now planning a 290-room hotel on the Education Building site and 61 rooms at The Lands Building property.
The owners of Sydney’s GPO complex, Singapore’s Far East Organisation and its sister company Sino Land Company, are also masterplaning the hotel tower there after they introduced The Fullerton Hotels and Resorts brand in October.
Built owns Kusu House, a 14-storey building at 52 Phillip St.
Its proposal seeks to amalgamate 50 and 52 Phillip streets, capitalising on its ownership of the slim office block, and develop a new 5/6-star hotel by using the air rights of both properties.
Under Built’s proposal 50 Phillip St would become the hotel’s main entrance and lobby, and house conference rooms and back-of-house, and host rooms.
Built would acquire the long-term leasehold (99 years) over 50 Phillip St. The plans say that 50 Phillip St is adjacent to the Chief Secretary’s Building that fronts Macquarie Street but that is a separate structure.
“The Chief Secretary’s Building will not be leased as part of this transaction, as it is intended to remain in government ownership and control,” the plan says.
The opposition ALP last year voiced concerns the Chief Secretary’s office, one of the city’s most prominent sandstone buildings, might be sold as its tenant, the NSW Industrial Relations Commission, is going to Parramatta.
Built’s plans were spruiked as creating jobs in tourism and construction and providing a rejuvenation and adaptive reuse of a government-owned heritage building. Built managing director Brett Mason said the company purchased 52 Phillip St in 2017 and repositioned it as a commercial investment, refurbishing and re-leasing a number of vacant floors.
“We are now in a unique position to work with the NSW government to explore a new, long- term development opportunity that focuses on the protection of the heritage of 50 Phillip St while seeking to rejuvenate an important building, securing its future for reuse,” he said.
Built has a significant track record across Australia in delivering high-quality heritage refurbishment projects.
This article originally appeared on www.theaustralian.com.au/property.
