THE City Tattersalls Club has lodged plans for a 49-storey, $270 million mixed use development of its headquarters at Pitt Street, hoping to find favour with the City of Sydney second time around after its initial application was rejected last year due to heritage concerns.
It will look to “protect elements of highly significant heritage-value found in the Club buildings” as it seeks to build a tower at 194-204 Pitt Street with a four-star boutique hotel of around 100 rooms and a residential tower with 246 apartments in partnership with Chinese-backed ICD Property.
City Tattersalls Club chief executive, Marcelo Veloz said the submission represented a major milestone for the 123-year old Club which, along with ICD Property, had to go back to the drawing board last year after an earlier development application was declined.
“The process of rethinking the proposal, while carrying out extensive consultation with stakeholder groups on key aspects, including traffic impact, heritage conservation elements and planning matters over the past year, had helped all parties develop a more considered submission.
“It will be a state of the art multi-purpose facility for inner city residents and a tremendous new base from which the Club can continue to serve the city and its many thousands of members well into a second century.”
The development would be Chinese-backed ICD Property’s first venture into Sydney, after project Melbourne including that include the residential high-rise Eq Tower, ongoing land subdivision community Gen Fyansford in Geelong, and the mixed-use 65 Federal Street tower in Auckland.
The Club will hold a competition for a design should the concept development application be approved, as it did for 65 Federal Street.
ICD Property’s deputy managing director Matthew Khoo said, “We are excited to create a development that will provide something for everyone who visits Sydney’s CBD.”
“The activation along the ground floor with modern restaurants and bars will bring people together to socialise, while the hotel offering complements Sydney’s booming tourism market.” Khoo said.
Australian Property Journal