The first Australian offering from the famous Waldorf Astoria luxury hotel brand is coming to Sydney’s Circular Quay. The investment group, Tattarang, promised the hotel would be “the centrepiece of the redevelopment of Circular Quay.”
Andrew “Twiggy” Forrest, the mining magnate, has stepped in to help bring the project to life. Tattarang Group, owned by Australia’s second richest person and wife, Nicola Forrest, purchased the 25-storey tower from Lendlease and its joint venture partner Mitsubishi Estate Asia for $800 million.
The 220-room hotel will offer broad views of Sydney Harbour Bridge, Opera House, and Sydney Heads and sit next to developers' One Circular Quay luxury residential tower.
“Circular Quay is a globally unique and instantly recognisable location that continues to welcome millions of visitors – from both near and far – each year," stated Forrest. “As long-term investors, we believe this development can play an important role in the future rejuvenation of the wider Circular Quay precinct, and we are committed to engaging with Lendlease and the surrounding community towards an even brighter future for Australia's gateway city.”
Tom Mackellar, Lendlease's managing director of development, hopes the precinct will become “one of the most desired places to live and stay in the world.”
“This transaction is a major milestone for the precinct’s revitalisation, bringing us one step closer to transforming the centrepiece of Sydney’s spectacular harbour,” said Mackellar.
The luxurious hotel will feature restaurants, spa and wellness facilities, an indoor pool, a ballroom, and function spaces, including a rooftop bar and restaurant with a panoramic view of the harbour.
Tattarang’s property company Fiveight will own the Kengo Kuma & Associates-designed tower – to be built by Lendlease – and own and develop 11 retailers at ground level.
“As the first Waldorf Astoria property to debut in Australia,” said Paul Hutton, Australasia lead of Waldorf Astoria, owner by Hilton, “Waldorf Astoria Sydney signals Hilton’s commitment to expanding our luxury portfolio to the world’s most sought-after destinations.”
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