ICD Property plan another Sydney CBD mixed-use hotel and apartment tower
The Melbourne-based developer, ICD Property, are readying a second mixed-use hotel and apartment tower in the Sydney CBD.
The project at 372 Pitt Street, toward the Haymarket end of Pitt Street near World Square, will be a joint venture between ICD and Belingbak, who appear to be a development arm of new investment firm Belingbak Capital Partners.
Woods Bagot has put together the plans for a 54-level tower, subject to change as the stakeholders continue to work through the architectural design and optimisation process.
To track this development and be updated on its next stage, enquire here.
The project put forward to council, currently valued at around $156 million, is expected to see just a small collection of just 28 apartments, which at the moment start from about level 40, up to the top of the tower. Current plans are for just two apartments per floor from levels 40 to 52, a mix of two and three-bedroom units.
The top two levels are set to home two full-floor, four bedroom penthouses.
There's expected to be around 288 hotel rooms, running at nine per floor from level seven to 38.
To track this development and be updated on its next stage, enquire here.
Residents will have access to the extensive amenity which comes in the mixed-use hotel/apartment concept, with a gym, function room and cinema located on level four, a restaurant and bar with a full width terrace on level three, and a ground floor cafe.
"372 Pitt St will be a monumental addition to Sydney, one that blurs the distinction between personal life and leisure as we strive to bring a first to market hotel and hospitality offering to Sydney – that is inspired by the diversity of people, local character and originality of the streets and scenes that surround us," the submission to the City of Sydney Council read.
"The team's vision will bring to Sydney a hotel offering with global character and attraction.
"The new hotel through design, brand, and operation will be a catalyst for the precinct delivering quality architecture, urban activation, social and accommodation opportunities and increased job creation.
"It will provide for the increasing tech community at Central and continue to grow the active centre of the CBD towards the south.
"Our proposal is a unique opportunity for increased city amenity and global identity."
ICD, led by Matt Khoo, are working on another mixed-use hotel apartment development just up the road at the popular City Tattersall Club.
That will see the scales tipped toward apartments over the hotel room component, with 241 apartments and 101 hotel rooms to be developed at the 194-204 Pitt Street address.
The 50-storey tower is another joint venture, this one alongside the Singapore-listed First Sponsor. Late last year the project, designed by BVN Architecture with fjmt studio overseeing all heritage designs, received the green light from the Central Sydney Planning Committee.