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$426 million hotel project approved by the City of Sydney

People & Companies / Latest News

Australia / Sydney

Mar 08 2018

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The City of Sydney have approved a hotel project at 201-217 Elizabeth Street, to be developed by Dexus Property Group and Perth billionaire Stan Perron. 

The development, at the edge of Hyde Park, will include a 50-storey mixed-use building providing hotel, retail and residential uses. 

But the approval is subject to a design process which must be conducted prior to the lodgement of a second development application, along with a public art strategy. 

Up to 10,000 new apartments and hotel rooms will enter the market, with ten new projects slated to surround the park. 

The Galileo Group is developing a $320 million residential project at 148-160 King Street, while Singapore’s Far East Organisation will redevelop 175 Liverpool Street.

Citystate Property has also received approval for an 18-storey CBD hotel at 980104 Goulburn Street, following multiple failed attempts. 

 

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