On Nov 22, First Sponsor Group, which is 35.72% held by City Developments, and 45.63% owned by Tai Tak Estates, announced that the Central Sydney Planning Committee issued formal approval in relation to redevelopment plans for a 50-storey mixed-use tower submitted by a consortium led by these two companies.
The approved development application allows for the revitalisation of Sydney’s City Tattersalls Club, located at 194 – 204 Pitt Street in the city’s centre, with upgrades to the Club’s heritage ground floor including new ground floor retail and restaurants, an upgraded lower bar and grill, a state-of-the-art commercial wellness centre, new bars and sophisticated lounge areas, event spaces, and an innovative co-working club.
See: First Sponsor sees 18.7% earnings growth to $69 mil for 1H21, declares interim DPS of 1.1 cents
On top of the existing heritage floors a podium will be built with a tower above comprising a 101-room hotel and 241 high-end residences. A key component of the redevelopment’s design is the smooth integration between the 50- storey tower and its heritage base.
According to First Sponsor's announcement, the City Tattersalls Club redevelopment represents one of the very last residential opportunities of its kind in Sydney’s CBD. The apartments occupying the top floors of the tower will offer impressive views over Sydney’s city skyline and harbour and give residents exclusive access to premium amenities including several multipurpose rooms, private dining lounges and a luxurious outdoor deck with BBQ and entertainment rooftop facilities.
The City Tattersalls Club redevelopment is preparing to launch its luxurious and exclusive 241 residences to market in 2Q2022, with construction expected to follow soon after in the middle of the next year.
