Joint venture developers Rebel Property and Everest Property will kick off construction next year on a $250 million, 300-key hotel in Sydney's mid-town.
The Sydney-based JV partners acquired the site in July for $60 million, are now seeking final approval and a builder for the four-star hotel set to be built out of recycled brick.
Architecture firm Crone were selected to design the 35-storey scheme after a design excellence competition was held for the 375 Pitt Street site.
The hotel's highly transparent podium, visible street level, will feature mixed-use businesses and co-working space in the upper floors.
The podium itself will be built out of recycled brick, pays homage to the former Brickfield Hill brickworks, which provided the construction materials for Old Sydney Town for decades.
The hotel's new private laneway will also include an installation by Chris Fox—the artist responsible the Interloop installation at Sydney’s Wynyard Station.
“Sydney has an insatiable appetite for quality, interesting hotel products in the four-star range,” Rebel Property managing director Allen Linz said.
Rebel Property is responsible for a number of Sydney’s recent hotel redevelopments including The Pier One in Walsh Bay and the newer QT in Bondi.
Together with fellow Sydney-based developers Everest, Rebel are banking on the successful activation of the hotel's podium which will contain facilities such as gyms, restaurants and co-working space that will tap the growing demand of business travellers in the mid-town area between Town Hall and Central Station.
“Today’s business travellers are seeking the unique hotel experiences that arise from the location of a four-star offer situated in the most interesting and often emerging precincts of our cities,” Crone Architects principal Paul Brace said.
The project is now expected to commence construction by the end of 2020, with completion earmarked for 2023.