CE Boston Hotels has unveiled its $100 million plans to revive West’s Olympia Theatre at One Oxford Street, Paddington in Sydney.
A joint venture between Sydney property developer Central Element and strategic investment firm Boston Global has been lodged a DA to revitalise Oxford Street and the local precinct.
Located at 1-11 Oxford Street, Paddington, the original building was initially the site of Marshall’s Paddington Brewery (circa 1860-1906) before being replaced by West’s Olympia Pictures in 1911 – becoming a destination for Sydney’s movie lovers for nearly 50 years. In its 90s heyday, the building’s Grand Pacific Blue Room was the party place to see and be seen. But, after a decade of underuse, it fell into disrepair.
Now the Sydney landmark will be transformed into a luxury mixed-use boutique hotel that embodies the spirit of one of Sydney’s best known and busiest locations, where Oxford Street meets South Dowling Street, Victoria Street and Barcom Avenue. The hotel operator will be announced in Q3 2020.
Designed by architects Tonkin Zulaikha Greer, the world-class adaptive reuse project will activate and rejuvenate Oxford Street with outstanding restaurants, retail and entertainment venues at the street and first basement level.
Four guest room floors will feature 101 high-end rooms, food and beverage offerings on the ground and rooftop, plus conferencing, banqueting and medical spaces in two new basement levels.