Novotel and Ibis Darling Harbour Hotels for Sale

[DejaBrew]

Abu Dhabi Investment Authority, the current owners of the Novotel and Ibis Darling Harbour Hotels, have decided to put them up for sale with investment firm Salter Brothers proposing a redevelopment of the properties into a new precinct that would include 1000 apartments.

Came across a few articles detailing the current state of play, but in summary, it looks like the proposal (if approved) would result in the Novotel being replaced by a new Pullman Hotel, the Ibis being refurbished and turned into a Mama Shelter Hotel, and about 1000 new apartments added to the site. Not everyone appears to be happy with the proposal though, with Sofitel Sydney Darling Harbour owner, Dr Jerry Schwartz, calling out the danger of excessive unit developments in a precinct founded to accommodate tourism.

Non-paywalled articles below, along with the link to the listing with CBRE for any of you budding hotel owners out there on AFF

Salter Brothers plans apartment-led transformation for Sydney’s Darling Harbour

The Middle Eastern sovereign fund that owns two hotels on Sydney’s waterfront could be the biggest winner if an apartment-heavy scheme is approved.

www.realcommercial.com.au

Darling Harbour icons hit the block as Jerry Schwartz fires up against flats in tourism hub

Sydney’s iconic Darling Harbour faces its biggest transformation yet as Middle Eastern owners put two major hotels on the market with radical development plans.

www.realcommercial.com.au

https://www.cbre.com.au/properties/hotel-leisure/details/AU-GLDE-184688/sydney-nsw-2000-australia-sydney-nsw-2000

 

[samh004]

I read about this somewhere recently... despite this area being planned as a tourism area originally, aren't there apartments going up on the site next door to the Sofitel anyway? I never realised how long and narrow the Ibis and Novotel site is. Great aerial in the CBRE link.

While I'm sure Jerry's concerns should be noted, as 1000 residences is a lot... the Novotel/Ibis could really do with a redevelopment to make them look a little nicer. They're not great on the eyes. I presume he'd also be worried that a Pullman so close by, and newer, might take bookings from his hotel?

 

[elanshin]

Darling One has already converted from a hotel to residential upmarket apartments a while back. My friend works there at the concierge. No reason that Ibis and Novotel cant follow in similar veins.

 

[markis10]

Darling One has already converted from a hotel to residential upmarket apartments

Indeed, used to be a grand mecure!