Leading Australian property group, Aqualand, is in the early stages of planning its first hotel and build-to-rent (BTR) project, with the company lodging a Secretary’s Environmental Assessment Requirements (SEARs) request for a mixed-use tower to be built on the site of its existing commercial building at 132 Arthur Street, North Sydney.

The 40-storey tower includes a 240-key hotel spread across 12 storeys below approximately 225 BTR apartments across 25 storeys. It will also feature ground floor food and beverage offerings, a hotel lobby and conference space. The project will be centrally positioned in the rejuvenated North Sydney CBD, just 450 metres from North Sydney Station and 250 metres from the Victoria Cross Metro Station, which is due to open in August 2024.

The submission highlights Aqualand’s ability to tailor its project offering to ideally suit its location and better serve the needs of the local community. As such, the hotel will capitalise on North Sydney’s lack of mid-range highly curated hotel accommodation by offering an edgy and urban vibe, rather than the standard corporate-style hotel offering.

The project also bolsters the company’s commitment to BTR as an effective model to help alleviate the restricted rental market, which remains an important segment of the local housing sector. Aqualand sees the project as capitalising on the growing demand for high quality and professionally managed rentable residences ideally located within bustling commercial precincts. 

Jin Lin, Aqualand’s Group Managing Director, said, “We’re excited to progress our third residential project in the North Sydney Council. This project will also see our first foray into the hotel space, which demonstrates our unique ability to pivot to whatever best suits the location.

“We look forward to offering something you’d expect to see in Surry Hills, more so than North Sydney, and have taken inspiration from hotels you’d expect to find in New York’s East Village, Shoreditch in London, or even Berlin.

“We’re envisioning a contemporary ambience, combined with a slick and highly personable front-of-house and professional behind the scenes operation, and know this will greatly assist in North Sydney’s ongoing rejuvenation. It will increase North Sydney’s appeal in the tourism sector and help generate a thriving 18-hour economy.

“We’re deeply committed to the North Sydney area as evidenced by our award-winning BLUE at Lavender Bay, which was completed in 2021, the recent completion of our AURA by Aqualand precinct at 168 Walker Street, and now this second mixed-use tower.

“Etymon Projects, our lifestyle and hospitality arm, has delivered four new venues in AURA’s podium level, which are set to open with the rest of the building this month. These world-class hospitality venues will be added to Etymon’s existing portfolio in the area, which already includes Loulou Bistro in Milsons Point and Poetica at 1 Denison Street, to further strengthen North Sydney’s appeal as a thriving precinct.

“However, our ultimate commitment remains with our future residents, and we look forward to providing them with an extremely high-quality rental product, with a large range of amenities and services, specifically designed to elevate their lifestyle, while encouraging a sense of community and inclusiveness,” he added.

Related Aqualand Reading;

AURA by Aqualand formally opens coinciding with their 10-year anniversary | The ASEAN Developer

Aqualand reveals inspiration behind the most luxurious penthouses | The Real Estate Conversation