Upon the sale, the building will be integrated into the consortium’s redevelopment plan, which includes a 50-storey tower featuring 241 residential apartments, an upscale hotel and event spaces. The redevelopment is a joint venture (JV) project undertaken by the consortium. It received approval in 2021 with Richard Crookes Construction announced as the appointed builder in 2023. Works onsite are on schedule with bulk excavation and installation of the jump form are almost complete.
City Tattersalls Club, one of the oldest and most prestigious clubs in Australia, has closed a deal to sell its partially heritage-listed property at 194 to 204 Pitt Street to a consortium that is 90.5%-owned by First Sponsor Group. The deal is worth A$24.7 million ($22.5 million).
The building, which is located in Sydney’s central business district (CBD) and is a stone’s throw away from some of the city’s iconic locations such as Circular Quay, Darling Harbour, Chinatown, the Harbour Bridge, the Opera House and Hyde Park, spans some 3,200 sqm (34,444.51 sq ft) across multi-storeys and a basement.
