Plans lodged for $100 million boutique hotel at iconic Oxford Street location
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Plans lodged for $100 million boutique hotel at iconic Oxford Street location
CE Boston Hotels has revealed its $100 million plans to revive West’s Olympia Theatre at One Oxford Street, Paddington, which is renowned for housing the Grand Pacific Blue Room in the 1990s.
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CE Boston HotelsAn artist's impression of the finished hotel.
An iconic Sydney theatre could be brought back to life as a boutique hotel if plans for a new development are approved.
A joint project between Sydney-based property developer Central Element and strategic investment firm Boston Global, the $100 million proposal includes plans to revive West’s Olympia Theatre at One Oxford Street, Paddington.
Central Element Planning Manager Daniel Barber told WILLIAMS MEDIA the spot was ideal for a hotel due to the many key drivers in the area.
"There is proximity to education and medical facilities, as well as a new stadium down the road," he said.
"It's also on the transport line from the city to the beach, so it's a great mix for someone who has business in the city but has room for downtime."
Source: CE Boston Hotels
"The mixed-use development will also provide significant public benefits and an estimated injection of close to $8m of additional revenue into the local economy.
"CE Boston Hotels are working closely with Paddington residents and the nearby medical precinct, art schools and universities to drive an engaging and supportive development."
Located at 1-11 Oxford Street, Paddington, the original building was initially the site of Marshall’s Paddington Brewery (circa 1860-1906) before being replaced by West’s Olympia Pictures in 1911—becoming a destination for Sydney’s movie lovers for nearly 50 years.
In its 90s heyday, the building’s Grand Pacific Blue Room was the party place to see and be seen, before falling into disrepair following a decade of underuse.
Now the Sydney landmark will be transformed into a luxury mixed-use boutique hotel, the operator of which will be announced in the third quarter of this year.
Designed by highly-acclaimed architects, Tonkin Zulaikha Greer, the world-class adaptive re-use project will "activate and rejuvenate" Oxford Street with restaurants, retail and entertainment venues at the street and first basement level, while a medical facility will be housed in the lower basement level.
Source: CE Boston Hotels
CE Boston Hotels plans to restore and integrate West’s Olympia Theatre’s iconic façade into the new building, which will feature a huge, beautifully landscaped internal garden on the ground floor, visible from the street.
Four guestroom floors will feature 101 high-end rooms, food and beverage offerings on the ground and rooftop, plus conferencing, banqueting and medical spaces in two new basement levels.
Central Element Director Wayne Chivas said the development represented an "exciting opportunity".
“Not only are we working to reinvigorate an iconic landmark but also to enhance the community with a high quality, beautifully-designed building that locals and visitors alike can enjoy again,” he said.
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