Sydney's latest $150-million hotel opening in Central Park edges closer
The $150-million hotel component of the Central Park development in Sydney’s Chippendale, Four Points by Sheraton, is set to open its doors in August 2018.
One of the hotel buildings towers over the defunct Abercrombie Hotel, which closed in 2014 despite backlash from locals.
The historic pub, now owned by Bruce Solomon and Matt Moran’s Solotel Hospitality, is expected to begin refurbishment later this year.
Currently owned by joint venture partners Frasers Property Australia and Sekisui House Australia, co-developers of the $2-billion Central Park, the 15,000-square-metre building will be handed over in October 2018 to hotel mogul Jerry Schwartz.
Schwartz, whose portfolio also includes the Sofitel Darling Harbour, paid $156 million for the Chippendale property.
The hotel has been built over the former Australian Hotel, also known as the Abercrombie Hotel. Image: Supplied
Located at the corner of Broadway and Chippendale Way, the hotel will be operated by Starwood and will have 297 rooms, including two luxury suites, al fresco bar, restaurant, function space, gym and car parking.
The Central Park project has transformed the heritage Kent Brewery site into a mixed-use precinct including apartments, restaurants, bars, retail, offices and hotel accommodation.
Like the wider Central Park development, the hotel will have a strong sustainability theme, with all rooms powered by the two-megawatt trigeneration plant, which produces electricity, heat and cooling together.
The hotel will feature sustainability measures. Image: Supplied.
The hotel will also hold a 5-star Green Star Rating.
Frasers Property Australia’s Mick Caddey said the sustainability measures will “minimise the hotel’s carbon footprint for years to come”.
“Our vision for Central Park was to create a vibrant urban space where Sydneysiders and travellers alike can experience the very best of inner-city living with environmentally conscious innovation, creating a sustainable community of the future.”
Four Points by Sheraton Central Park general manager Bernhard Langer said the hotel aims to allow guests to enjoy inner-city living while being part of an eco-friendly environment.
“We want guests at Four Points by Sheraton Sydney, Central Park to feel as though they’re living and breathing the area as if they were locals, so for the hotel, sustainability really is a way of life,” he said.
The Central Park precinct is edging closer to completion after nearly a decade of development. Image: Supplied
The upcoming opening of the Four Points hotel marks the brand’s return to the harbour city, following Hyatt Regency’s replacement of the Four Points by Sheraton at Darling Harbour in late 2016, after a 16-year stint.
Starwood will also open a Four Points by Sheraton in Parramatta with 271 rooms in April 2020.
The Chippendale opening comes as new research by iProsperity Group notes more buyers seeking forward purchase agreements on hotel developments in Sydney to lock in deals and climbing prices amidst a tightening market.
One example is Four Points by Sheraton Central Park, which Schwartz acquired under a forward purchase agreement.
Central Park nears completion
Development of the rest of the Central Park precinct is still ongoing, with works for the 5000-square-metre commercial component of Duo continuing throughout 2019.
The final residential release of Central Park Wonderland, made up of 295 apartments, is anticipated to wrap up at the end of the year.
Meanwhile, a planning application for the heritage Brewery Yard to be repurposed for commercial and retail use is also underway. The Brewery Yard includes the Carlton and United Brewery building which is integrated with the trigeneration plant. Work is expected to begin in mid 2019.
