Tattarang’s long-term investment ensures one of Australia’s most iconic sites, and the centrepiece of the redevelopment of Circular Quay, is secured in Australian hands.
The future 25-storey tower, purchased from Lendlease and its joint venture partner Mitsubishi Estate Asia, will welcome the Waldorf Astoria brand to Australian shores, delivering a new global standard of hotel accommodation on the doorstep of one of the world’s most unique and recognisable destinations.
Construction will commence in mid-2023 on the new hotel tower, which will be located alongside Lendlease and Mitsubishi Estate Asia’s One Circular Quay luxury residential tower. To be named Waldorf Astoria Sydney, the hotel will offer unrivalled views of Sydney Harbour Bridge, the Opera House and the Heads.
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.
Tattarang Co-Owner Nicola Forrest AO 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.”
As part of the transaction, Fiveight will also own and develop the retail offering at ground level which will feature 11 individual retail tenancies, including in the adjacent luxury residential tower.
“Fiveight will curate a truly unique retail offering–to champion and showcase Australia’s best brands and products to the five million people who visit Circular Quay each year,” Mrs Forrest said.
Lendlease Managing Director Development Tom Mackellar 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, which will be located alongside our luxury One Circular Quay residential tower, positions this precinct to become one of the most desired places to live and stay in the world,” Mr 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,” Mr Hutton said.
“We are truly excited to be a part of such an iconic project for Australia and look forward to deepening our relationship with Fiveight as we work together to deliver a truly world class experience at Waldorf Astoria Sydney.”
Construction of both the hotel and residential tower at One Circular Quay will commence shortly, with the hotel due to open in late 2026.