West Australian firm Tattarang has purchased the landmark Circular Quay project in Sydney earmarked as the first Waldorf Astoria hotel in Australia.
The ultra-luxury hotel, neighbouring Four Seasons Sydney, has been more than six years in the pipeline, switching ownership between foreign investors. It has previously been known as Wanda Vista and Yuhu Sydney One, before last year being confirmed as the future site of Waldorf Astoria Sydney. Currently, the site remains a boarded up hole in the ground and construction zone.
The future 25-storey tower, purchased from Lendlease and its joint venture partner Mitsubishi Estate Asia, will deliver a new global standard of hotel accommodation on the doorstep of one of the world’s most unique and recognisable destinations, Tattarang said in a statement this week.
Development will commence in mid-2023 on the new hotel tower, which will be located adjacent to Lendlease and Mitsubishi Estate Asia’s One Circular Quay luxury residential tower. Waldorf Astoria Sydney will offer unrivalled views of Sydney Harbour Bridge, the Opera House and the Heads.
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The hotel tower designed by Kengo Kuma & Associates and to be constructed by Lendlease, will be owned at completion by Tattarang’s property company Fiveight, which will work with Hilton and Lendlease to ensure a unique Australian design outcome is integrated into the Waldorf Astoria brand.
Nicola Forrest AO, Tattarang Director said the investment is a continuation of Tattarang’s long-term strategy to invest in and support iconic Australian places, spaces and products that showcase the best of what our country has to offer.
“Circular Quay is a globally-unique and instantly recognisable location that continues to welcome millions of visitors – from both near and far – each year,” Mrs Forrest said.
“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.”
“We are excited to work collaboratively with the Hilton team to create one of the world’s most innovative Waldorf Astoria hotels, and importantly one that is uniquely Australian.”
The agreement will also see Fiveight own and develop the retail offering at ground level which will feature 11 individual retail outlets.
Tom Mackellar, Lendlease MD Development said: “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.
“Australia’s first Waldorf Astoria by Hilton…positions this precinct to become one of the most desired places to live and stay in the world,” Mackellar said.
Waldorf Astoria Sydney will include 220 hotel rooms across 25 levels and guests will have access to restaurants, spa and wellness facilities, an indoor pool, ballroom and function spaces, boardrooms, and a rooftop bar and restaurant that offer panoramic views of Sydney Harbour’s world-famous landmarks.
Paul Hutton, Area Vice President and Head of Australasia at Hilton said history and local significance is at the heart of every Waldorf Astoria hotel.
“As the first Waldorf Astoria property to debut in Australia, Waldorf Astoria Sydney signals Hilton’s commitment to expanding our luxury portfolio to the world’s most sought-after destinations. Our personal, elegant service and timeless locally inspired environments are at the heart of every hotel.”
Construction of both the hotel and residential tower at One Circular Quay will commence shortly.
Waldorf Astoria Sydney is now slated to open in late 2026.