Sydney-based developer WINIM has purchased the former Glenferrie Lodge in Kirribilli for $23 million with plans to develop a $50m luxury hotel.

With the Prime Minister’s Lodge as its proverbial neighbour in one of Sydney's most iconic locations, the turn of the century heritage property at 2 Carabella street will be preserved in the Rothelowman-designed renovation and extension to create a 42-room luxury hotel with residential apartments.

The sale was managed by CBRE’s Hotels’ Director, Raymond Tran.

“The preservation of the hotel in a luxury format will be well-received by the hotel market and local neighbourhood, particularly given the aura and location worthiness of Kirribilli. WINIM’s redevelopment will bring the property into the next century, activating the local area with a luxury hotel and residential clientele,” Mr Tran said.

The hotel will be managed by EVT under its Independent Collection branded “Glenferrie House”.

WINIM’s Managing Director Justin Kuiters said, "This project, as well as Parnell House in Newcastle, underscores WINIM’s dedication to adaptive reuse and innovative mixed-use design, by creating thoughtful places that celebrate the character of their surroundings."

Mr Tran added, “Both hotel redevelopments are terrific outcomes for the Sydney and regional hotel markets. The Sydney hotel market is comparably still undersupplied from an international standpoint and as Australia’s gateway city.

"The dearth of hotel builders in NSW is apparent and the cost prohibitive nature of construction and land prices compounds that, so it is a refreshing to see a developer like WINIM complement the market with much needed hotel products.”

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