Citystate Property has submitted a development proposal for an 18-storey hotel comprising ground floor retail tenancies, 165 hotel rooms and facilities, a residential penthouse and a shared rooftop open space.
Designed by Plus Architecture and planned by Ethos Urban, the proposed hotel is located at 98-104 Goulburn Street in the southern end of the Sydney CBD.
This proposal is the third development application to be submitted by Citystate, on behalf of a client that wishes to remain anonymous. The developer first lodged an application for a 37-storey tower in 2015 when it held options to a wider site of 90-104 Goulburn Street. The application was withdrawn in 2016.
The new proposal will cost $35 million and will be orientated towards the southeast corner of the site to "provide a strong sense of address to the hotel". The ground floor opens up to a lobby that provides access to several retail offerings.
"Level two considers the adjacent relationship to the heritage buildings along the western boundary ensuring the building aligns with the existing heritage walls," the proposal said.
The 333sq m site currently features a six-storey building which will be demolished.
Hotel revenue in the area has been consistently strong. According to JLL, 40.7 million visitor nights were spent in Sydney City last year which represented 7.1% of all visitor nights spent in Australia. International visitor nights accounted for 75.0% and domestic nights 25.0%.
Sydney, in particular, is considered a major gateway to Australia and a key hub for the Asia Pacific region due to its harbour, shopping, entertainment, dining experiences and beaches.
JLL also said Sydney Airport received 39.7 million passengers in 2015 and is forecast to receive circa 74.3 million per annum by 2033.
With growing numbers on that scale, despite reports of additional accommodation developments popping up in the past two-three years, there is still demand for well-built, quality hotels that can provide a sense of luxury for a growing tourist population.
Images courtesy Plus Architecture