Singapore-based real estate investment group M&L Hospitality today announced the acquisition of 65 Sussex Street, a hotel development site in Sydney’s CBD.
Already the owner of the iconic Four Points by Sheraton Sydney, Australia’s largest hotel by room number, and Swissôtel Sydney, M&L Hospitality continues to expand its portfolio in Sydney with this new hotel development site. The addition of 65 Sussex Street will increase M&L Hospitality’s overall portfolio in Sydney to more than 1000 hotel rooms and 16 hotels globally once completed.
Located close to Four Points by Sheraton Sydney and Barangaroo, 65 Sussex Street is likely to be one of the key beneficiaries of the investment in Sydney CBD’s growth precinct.
M&L Hospitality has appointed architects Fitzpatrick + Partners as well as interior designers to create a unique mid-scale hotel property befitting the new precinct that will include a restaurant, bar and meeting space. Development approval for the site was granted in October 2015. M&L Hospitality will appoint a contractor for the development by Q1 2016 and construction of the hotel is expected to be complete by Q4 2017.
65 Sussex Street is ideally located adjacent to the King Street Wharf dining precinct on the northern end of the Western Corridor with excellent transport connectivity. As well as enjoying a variety of office and retail facilities from the Western Corridor, the 65 Sussex Street hotel will also benefit from the new convention space at the multi-million dollar redevelopment Four Points by Sheraton Sydney.