ICD Secures partners with First Sponsor for City Tattersalls Club development
ICD Property has secured funding from Singapore-listed First Sponsor for the redevelopment of the City Tattersall club.
Marking the group’s first Australian project, First Sponsor operates across China, the Netherlands and Germany in property development and financing.
ICD Property secured City of Sydney approval for the first stage on its $200 million concept development application of the almost 125-year-old City Tattersalls Club site in early November.
The approval allows for plans to rejuvenate the entire clubhouse, including retail, restaurants, along with plans for a 49-storey tower above the club.
“Receiving construction funding from First Sponsor will allow for a more efficient and streamlined process with works on the City Tattersalls Club earmarked to commence following stage 2 approval,” said ICD deputy managing director Sal Quah.
ICD says submission of a stage two development application will follow the planned design competition with City of Sydney next year.
Sheridan Randall, 28th November 2019
