InterContinental Hotel site approved for redevelopment
The state government’s Sydney Eastern City Planning Panel has approved the redevelopment of Double Bay’s InterContinental Hotel site, at 33 Cross Street.
The eight level project will include luxury apartments, offices, a wellness centre and retail, with a food and beverage precinct.
Also with boutique accommodation, the end value is speculated will circle $1 billion.
The number of build to sell dwellings is unknown.
Edward Litver’s Capitel Group and Rebel Property, led by Allen Linz, will deliver it, with Metis Group.
The application was applied for 11 months ago.
The pair paid $215m two years ago.
Those seller, Piety Group and Fridcorp, outlaid $178m in 2021 with plans to repurpose the building as 31 build to sell apartments (continues below).
Site set for redevelopment
Penned by Cox Architecture, the complex will replace a six level hotel, developed in 1991 as Australia’s first Ritz-Carlton, and accommodating Princess Diana, Elton John and Madonna, amongst others.
INXS lead singer Michael Hutchence died there in 1997.
“This approval marks a major milestone for Double Bay and reflects a shared commitment to see the village continue to evolve,” Mr Linz said.
Mr Litver added the project would make a “lasting contribution” to Double Bay’s future.
“This site has long been part of Double Bay’s identity and this approval allows it to plan an even greater role in the community’s future,” according to the developer.
Subscribe to our newsletter at the bottom of this page.
