Hotel plans for the site of the Clocktower Square at The Rocks in Sydney have been filed.
If approved, the eight-storey mixed-use block will make way for an $85-million, 206-key hotel on the site at 35-75 Harrington Street.
Developer Far East Rocks Pty Ltd (FEO) is the long-term leaseholder of the site and Placemaking NSW the freehold owner.
After securing the lease in 2013, FEO has been “progressively exploring opportunities to revitalise” the Clocktower building.
The “strategically significant site” has multiple street frontages and enjoys “iconic views” of Sydney Harbour, the Opera House and Harbour Bridge.
“Few sites within Sydney have comparable strategic credentials and attractiveness or are available for unique redevelopment opportunities,” according to the development application.
An existing building at the square would be demolished in favour of a new Quincy Hotel.
The proposed hotel designed by FJMT Studio would eventually connect with the existing Rendezvous Hotel at 75 Harrington Street which adjoins the site to the south.
Development approval for these works will be sought under separate future planning applications.
If approved, the existing development will deliver a mixed-use hotel and retail development with 206 rooms at the 4.5 star hotel, a guest pool and rooftop bar with 1800sq m of lettable retail area.
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Of the eight storeys, two levels would be for retail and commercial uses and the other five to house the hotel. Two basement levels would provide 80 car parking spots.
Far East Rocks, along with its sister company Sino Group, is one of Asia’s largest real estate groups.
It has operations in Singapore, Australia, China (Hong Kong and Mainland), Japan and Malaysia as well as the US.
Since 2013, FEO and its listed unit, Far East Orchard, have reportedly invested more than $2 billion in partnerships and acquisitions in Australia, with the aim of delivering “quality, innovative real estate assets that leverage local expertise to meet the long term needs of Australia businesses and communities”.
The Quincy Hotel proposal will be on exhibition until mid April.
