Demolition of InterContinental Hotel to transform Sydney’s Double Bay village
The demolition of the InterContinental Hotel will transform Sydney’s Double Bay village. The famous hotel is set to be converted into a $1 billion residential apartment block, a boutique hotel, office, wellness, restaurant and cinema complex.
The famed hotel, which has hosted the likes of Princess Diana, former prime minister Bob Hawke and INXS frontman Michael Hutchence, was acquired in March by developers Allen Linz and Eduard Litver for $215 million who plan to develop 29 apartments on the site with a price tag of $30 million each.
A 40-room boutique hotel, a full level of office space, a level of wellness facilities, including medical, spas, saunas, gyms, and a cinema complex are also planned.
The proposed development at 33 Cross Street, Double Bay, includes apartments to be built on the top seven levels, each priced at approximately $100,000 per square metre. Construction is anticipated to take between 2½ to 3 years.
According to the development application, the apartments will offer about 300 square metres of space each, with many units high enough to provide views of Sydney Harbour. Designed by COX Architecture, the project aims to secure approval from Woollahra Municipal Council by next year, with construction expected to commence by 2026 if granted.
Developers are optimistic about attracting additional investors to complete the project and have indicated that the apartments are likely to be marketed on an invitation-only basis. Early interest is already evident, with reports of potential buyers queuing for the exclusive residences.
The design and planning of the proposal consider the needs of the ageing Double Bay community, aligning with the area’s demographic profile.
“This is the largest privately held site in Double Bay Village, and over the past 25 years there have been numerous concepts, schemes, ownership changes and refurbishments in an attempt to revitalise the site without sustained success,” Capitel Group managing director Eduard Litver said.
“Our focus is to deliver the next evolution of this Sydney icon – a truly mixed-use lifestyle destination of enduring quality that inspires local pride and garners global recognition, and aligns to Woollahra Council’s vision for Double Bay Village.”
Rebel Property managing director Allen Linz said, “Since the early 1990s, 33 Cross Street has served as a landmark hotel with limited civic connection beyond one street frontage, while the harbourside community has been transforming into a vibrant cosmopolitan precinct that we know people want to preserve and enrich.
“Our design creates an inviting, permeable street-level experience for all to enjoy, while preserving the site’s history with a new right-sized luxury boutique hotel.”
The manager for the new boutique hotel has yet to be identified, but the site’s owners reportedly have a strong relationship with IHG, the operators of the existing InterContinental Hotel.
Developers are confident the project will revitalide the Cross Street precinct, complementing Woolworths, which has established a strong presence in one part of Double Bay, and Neil Perry’s restaurant, Margaret, which anchors another.
To ensure high standards, the developers intend to retain control over much of the project’s non-residential spaces, including its retail outlets, 40-room boutique hotel, and office areas.
Jonathan Jackson, 21st November 2024
