Holdmark Files $700m Sydney CBD Skyscraper Project Plans

Plans have finally been filed for a 59-storey skyscraper proposed for a site in Sydney’s CBD area.

The plans for the site at 4-6 Bligh Street have been lodged by Sarkis Nassif’s Holdmark as a State Significant Development Application. 

With an estimated end value of $700 million, the 200m hotel and commerical skyscraper would comprise a 200-key hotel on levels 14 to 56 plus a rooftop bar.

There would also be eight storeys of office space, meeting and event rooms, restaurants, bars and retail space.

“There’s no question that Sydney is on the path to becoming a truly global city and we’re excited to be part of that,” Nassif said.

“We think there is enormous potential for tourism and that there is a long-term opportunity at the top end of the hotel market.”

▲ A render of the proposed 59-storey tower on Bligh Street in Sydney’s CBD.

The Woods Bagot-designed plan was chosen via a design competition for the site.

“We’re extremely proud of this design which is the first project to take advantage of the Central Sydney Planning Strategy by the City of Sydney and allows us to get the height we’ve been able to achieve,” Woods Bagot principal and project design leader Ian Lomas said.

“We wanted to make a strong design statement and the architectural concept has been conceived as a simple sculptural form that contrasts against an unruly and congested skyline.”

The City of Sydney director of City Planning, Development and Transport Graham Jahn said the design “displayed a masterful architectural clarity and precision”.

“The slender hotel tower and infill podium will complement the extraordinarily rich setting of superb heritage-listed buildings that surround the site,” Jahn said.

Holdmark bought the site, home of the refurbished 17-storey Bligh House office tower on it, last year from Singaporean firm SC Capital Partners for a reported $210 million in a sale brokered by Fortius.

It was the second time SC Capital Partners had tried to sell the asset with the Salter Brothers reportedly interested prior to the pandemic.

The site is opposite one of the planned entrances for the future Sydney Metro Hunter Street Station.

“We bought the asset purely on a commercial basis because we love the location, it has great development potential and is 100 per cent occupied, which indicates that quality well-located buildings will stand the test of Covid and the test of time,” Nassif said.

Holdmark said the Blight Street project was part of its diversification strategy for the company, which started with residential projects in western Sydney 30 years ago but is increasingly moving into commercial, retail and hotel developments, including InterContinental Parramatta.

Late last year Holdmark won approval for its $600-million Burwood Place project with more than 1000 apartments across five buildings in the inner western Sydney suburb.