McVay Real Estate Australia has been exclusively appointed to manage the sale of the 312 - 318 George Street, Sydney via an Expression of Interest campaign closing on Thursday 9 August 2018 at 4.00 pm AEST.

The prime 582 sqm (approximate) site located directly opposite to Wynyard Station, boasts an extensive 23m (approximate) frontage to George Street, Sydney’s main pedestrian and light rail thoroughfare.

Development Approval has been granted over the George Street site for the construction of a new 16 level building incorporating basement, ground and mezzanine retail and 195 hotel rooms including a hotel lounge and terrace on level 12. Westpac will pre lease the 471 sqm (approximate) ground and mezzanine retail tenancy.

The Sydney hotel market continues to be one of Asia Pacific’s best and most consistent performers. Sydney Airport reported a record 43.3m passengers in 2017 and STR expect Sydney to maintain strong occupancy demand with positive ADR growth of 3.6% p.a. forecast for the next five years.

With this exceptional tourism demand expected to continue and a geographically constrained development pipeline, Sydney remains one of the most sought after hotel investment destinations globally.

Sam McVay told The Hotel Conversation, “This is undoubtedly the best hotel site available for sale in Australia. It’s location, surrounded by iconic office buildings, adjacent to world class retail and a link to Barangaroo via the Wynyard walk, will have wide ranging appeal.”

“The ability to offer a fully approved hotel site with vacant possession in the centre of one of the region’s best performing markets is extremly unique. A pre lease commitment from Westpac and optionality of room configurations make this development opportunity highly sought after.” states Dan McVay

To discuss the opportunity in further detail, phone or email Sam McVay or Dan McVay via the below contact details.

See also:

Golden Age Group to convert Surry Hill's Tyne House into Luxury Hotel

W Hotel announced for Ribbon development Sydney

Jerry Schwartz's Four Points by Sheraton hotel in Sydney's Broadway opening August 2018