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Mulpha Australia has secured development approval to proceed with a $200 million hotel in the southern end of Sydney’s CBD, adding to its national portfolio that includes the InterContinental Sydney.
The 17-storey ‘new age’ lifestyle hotel, located on site at 355-357 Sussex Street which currently houses the century-old Foley Brothers warehouse, will deliver 272 hotel rooms along with ground-floor restaurant and bar facilities when it opens in mid-2026.
Mulpha, which plans to start construction in the first half of next year, will partially retain the existing five-storey building, including the heritage façade and other elements which it says contribute to the character and presentation of the original building.
The hotel’s location at the southern end of Sydney’s CBD places it within walking distance to nearby to a range of key tourism attractions, including Darling Harbour, the Powerhouse Museum, the International Convention Centre, World Square shopping district and the Chinatown precinct.
“We are thrilled to receive approval for this new age hotel that will contribute to the ongoing rejuvenation of the southern CBD into one of the most vibrant areas of Sydney for visitors, residents and workers,” says Mulpha CEO Greg Shaw.
“With the strong rebound in both domestic and international tourism, it is vital that we have 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.”
Mulpha has yet to reveal the hotel operator for its latest project.
“We are advancing negotiations with global hotel operators to introduce new innovative hotel product for the Sydney market,” says Shaw.
“This investment continues Mulpha’s long-term commitment to acquiring and developing high quality tourism and hospitality assets in key Australian destinations.”
The new Sydney hotel adds to Mulpha’s existing Australian hospitality and tourism portfolio which, apart from InterContinental Sydney, also includes InterContinental Sanctuary Cove Resort, InterContinental Hayman Island, Bimbadgen Winery Estate and the Palmers Lane Retreat in the Hunter Valley, which is due to open next month.
Mulpha is also advanced a number of residential and tourism projects nationally, including Norwest Quarter, comprising 184 high-end apartments at Norwest in Sydney, Harbour One, a prestige waterfront apartment project at Sanctuary Cove, and Swing City, an innovative golf entertainment and hospitality concept in the Norwest Business Park.
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