$762 million City Tattersalls Club redevelopment greenlit

$762 million City Tattersalls Club redevelopment greenlit

A 50-storey mixed-use tower on Pitt Street in Sydney’s CBD has been greenlit by the Central Sydney Planning Committee this week, permitting the revitalisation of the iconic City Tattersalls Club.

The project will be delivered by a consortium led by Singapore-listed First Sponsor and Melbourne-born ICD Property, both of which aim to upgrade the Club’s heritage ground floor and build a 101-room hotel and 241 high-end residential apartments.

The redevelopment will also feature an upgraded lower bar and grill, a state-of-the-art commercial wellness centre, new bars and lounge areas, event spaces, and an innovative co-working club.

“To be able to redevelop the City Tattersalls Club, one of Sydney’s longest standing institutions, and preserve that rich history for future generations to enjoy, is a huge honour,” ICD Property managing director Matt Khoo said.

“Developing new residences in the very heart of Sydney’s CBD, surrounded in every direction by the city’s best shopping, dining, and entertainment precincts such as Westfield Pitt Street, Haymarket, Darling Harbour, Hyde Park, China Town, and Circular Quay – is also not something you see every day.

“We could not be more excited by this rare opportunity.”

The redevelopment marks First Sponsor’s first Sydney project according to CEO Neo Teck Pheng.

“We have always been attracted to the Australian property market which has seen stable, long-term growth and a particular uptick in the residential sector within the last 18 months,” Pheng said.

“The City Tattersalls Club redevelopment was particularly appealing due to its location in what is arguably the most highly sought-after real estate location in the whole of Australia, as well as the hands-on partnership with ICD Property whose collaboration and local knowledge has been extremely valuable to guiding this project forward.”

Local architect, fjmt studio, has been appointed to oversee all heritage design aspects of the redevelopment, highlighting the building’s historic features and the design of the City Tattersalls Club’s interiors.

BVN Architecture has been appointed to design the new 50-storey tower as well as the residential interiors, and Suede Interior Design appointed to design the hotel interiors.

“We have worked very closely with ICD and the City Tattersalls Club to ensure the project’s overarching design weaves together old and new, heritage and future vision,” fjmt interiors head Lina Sjögren said.

"Our approach will preserve the beautiful heritage interiors whilst bringing a new and exciting layer of contemporary design that organically integrates and complements the building’s existing features.”

City Tattersalls Club group CEO Marcelo A. Veloz, who leads the 20,000+ member strong Club, expressed his enthusiasm at this latest key milestone.

“This redevelopment has been years in the making and tribute must be paid to ICD, First Sponsor, fjmt, BVN Architects and the incredibly talented team of consultants behind the scenes that contributed to getting this approval. It will enable us to offer existing and future members a substantially expanded roster of amenities that will appeal to a larger worldwide audience,” Veloz said.

“It is an honour for our Club, which has been part of Sydney’s history and growth for the last 126 years, to now be able to contribute to the city’s iconic skyline through a new connected landmark tower; and create significant value through the improved activation of our Pitt Street frontage.”

The City Tattersalls Club redevelopment is preparing to launch its 241 residences to market in Q2 2022, with construction expected to follow soon after in the middle of the year.

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