Merivale has unveiled its vision to create a new interwoven hospitality precinct in Sydney’s CBD that will include a boutique hotel, wellness facilities and premium office space.
To achieve this Merivale will preserve and re-purpose five adjacent under-utilised heritage buildings located within the boundary of King, York, Clarence and Barrack Streets.
The company anticipates submitting a development application to the City of Sydney Council next month. The proposal aims to consolidate the five existing buildings under one master plan, paving the way for the creation of interconnected hospitality, entertainment, accommodation and office spaces within the site. Patrons will be able to freely move between the buildings and venues and enjoy the various offerings of the precinct.
The proposed project will retain the current heights and footprints of the buildings, without any major demolition and reconstruction.
While Hotel CBD was Merivale’s first significant hospitality redevelopment back in 1995, Merivale purchased the balance of the heritage buildings in 2022, which were previously a mix of under-invested residential, commercial and retail spaces. As part of the masterplan application, Merivale is applying for a ‘change of use’ for the precinct to a cohesive licenced food and beverage premise.
Upon completion it is estimated the precinct will create hundreds of new jobs including skilled culinary roles, food and beverage service and hotel functions.
Merivale CEO Justin Hemmes said the announcement is the culmination of many years’ worth of planning and investment.
“We are setting out on a mission to transform the separate spaces of these incredible buildings into a combined, licenced precinct that will facilitate quality and accessible entertainment, food, beverage and accommodation options,” he said.
“We want to build on the heritage and memories of our Hotel CBD venue which we built and have operated since 1995. The precinct is ideally located near public transport, existing retail space and a central CBD location.
“Sydney is entering a new and exciting era for hospitality and entertainment, and the opening of the Sydney Metro has been revolutionary for the city by improving ease and access for everyone to the central business district and all it has to offer.”
Mr Hemmes said the company is supportive of the NSW Government’s revised 24-Hour Economy Strategy and Vibrancy Reforms.
Executive Director of Business Sydney, Paul Nicolaou, said Merivale’s vision “is exactly the confidence building big thinking that our wonderful city needs and it will have a cascading effect in encouraging other developers to invest in the CBD economy.”