Plans to turn Exchange Hotel into boutique accommodation

The Exchange Hotel in Sydney’s Balmain is set to be transformed into a boutique hotel.

The plans submitted to the Inner West Council include a 35-room boutique hotel, with the retention of the ground floor café and bar.

The development plans have been submitted by Sydney Architecture Studio (SAS) on behalf of the pub’s owner Jon Adgemis, who bought the pub for around $5 million in 2016 in partnership with a group of investors.

“We’ve discussed Paramount House in Surry Hills quite a bit, and while we don’t intend to mirror its offering, its ability to capture the existing social footprint of the area and contribute positively to the needs of that community which include its residents, workforce and visitors is something we are striving to also do,” SAS partner Tom de Plater told Commercial Real Estate.

“It’s something that The Exchange Hotel in its most recent history has not been – [which is] busy! People haven’t wanted to visit or dine, or host meetings, and they certainly haven’t been able to stay.”

De Plater said the decision to add accommodation was driven by the decline of mid-sized pubs over the last 10 years.

“Pubs are becoming increasingly financially unsustainable and the land-use mix must be continuously evaluated and adjusted to maintain viability,” he told Commercial Real Estate.

The almost $2 million development is aiming to reinstate the original detailing of the building including the addition of a second-level balcony that was removed over 50 years ago.

The development is slated to be finished by the end of the year.

Sheridan Randall, 21^st January 2020