Waldorf luxury hotel looms over Circular Quay
Billionaires Andrew and Nicola Forrest are bringing Australia's first Waldorf Astoria hotel to life on Sydney's Circular Quay.
The 26-storey building, located at One Circular Quay, recently reached its "topping out" milestone, signifying the completion of its structure.
Construction now shifts to the interior fit-out and the installation of the distinctive facade, a design collaboration between Kengo Kuma & Associates and Crone Architects, incorporating sandstone, green walls, and glass.
The Forrests, who have since separated, acquired the project from Lendlease two years ago for $520 million through their investment vehicle, Tattarang's property arm, Fiveight. This acquisition positions them as landlords of a hotel synonymous with New York City wealth, exclusivity, and high-end accommodations. The hotel is situated next to a taller luxury apartment building, also part of the One Circular Quay development.
“It is privilege to be bringing the brand to the Australian market and providing a product which will help showcase Sydney to the world,” John Hartman, Tattarang chief executive, told The Australian Financial Reviewthis week.
The Waldorf Astoria, whose flagship New York City hotel opened on Fifth Avenue in 1893, is now a Hilton-operated brand.
The upcoming Circular Quay location, slated for completion by the end of next year, will be a prominent addition to the recent accommodation boom that has brought approximately 16,000 new hotel rooms to the market. This surge in development is also seeing older hotels close and existing landmark properties undergo extensive renovations to meet evolving traveller preferences.
“From a property investment perspective, at the time we invested COVID-19 was still active,” Hartman said.
“It was our belief that Sydney as a global city needed a truly global product, which this hotel will be.
”It was a highly unique opportunity at one of the best sites in the country for Tattarang to deliver on its vision of investing in really iconic Australian places and making sure we are showcasing the very best of Australia.”
The Waldorf Astoria Sydney will offer 227 rooms, a rooftop bar and restaurant, and the standard luxury amenities: an indoor pool, multiple dining options, and a spa and wellness centre. Its standout feature is likely to be the second-floor ballroom, offering unparalleled views of both the Opera House and Harbour Bridge. The building's ground floor will house high-end retail shops, and a well-known chef is reportedly being sought to open a restaurant.
Andrew Forrest said the Waldorf Astoria will provide guests with prime views of Sydney's iconic landmarks, combined with world-class hospitality and a distinct Australian flavour.
Jonathan Jackson, 25th February 2025
