New $200m hotel in a converted warehouse

A century-old building in Sydney’s CBD will be transformed into a lifestyle hotel.

Property and hospitality group Mulpha Australia has received approval to develop a heritage building in Sydney’s Sussex Street into a 17-storey lifestyle hotel.

It will have 272 hotel rooms, restaurant and bar facilities and the project team is looking at creating integrated meeting and conference services within the venue with the intention of attracting local and international business groups.

Originally a warehouse building constructed around 1916, the new development will partially retain the existing building, including the existing heritage facade.

The hotel’s location at the southern end of the city’s CBD places it within walking distance to a range of key event spaces and venues around Darling Harbour like the International Convention Centre and Powerhouse Museum.

Mulpha CEO, Greg Shaw, said with the strong rebound in both domestic and international tourism, it is vital that Sydney has shovel-ready projects to grow accommodation capacity and meet demand. 

“Sydney is leading the way in the Australian accommodation industry with strong occupancy levels set to increase further as the international market exceeds pre-Covid levels in 2024 and beyond,” he said.

“As the gateway to Australia, more quality hotels will reinforce Sydney’s status as a global centre for business, finance and education, while supporting the construction sector and broader economy.”

Construction is expected to commence in the first half of 2024 with completion expected in mid-2026.

The new hotel development will add to Mulpha’s existing Australian hospitality and tourism portfolio which includes InterContinental Sydney, InterContinental Sanctuary Cove Resort, InterContinental Hayman Island, Bimbadgen Winery Estate and the upcoming Palmers Lane Retreat in the Hunter Valley, which is due to open in October 2023.

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