Australia: Following the purchase of six residential units, the 8Hotels brand will develop a nine-storey boutique hotel.
Individual unit sales were negotiated off-market with owners by Paul Fischmann, owner of 8Hotels, and Jonathan Hasson for a combined $7.5 million, which negated the need for a strata renewal.
The project will become the second development in Sydney for 8Hotels, alongside its 40-room boutique accommodation, Clancy, near Central Station, due to open in 2020.
The new property is located in the Kensington neighbourhood close to Sydney’s light rail network, nearby the University of New South Wales station, and is expected to open in 2022.
WMK Architects has been signed to design the building, with Alessi Design and Build helping with the building construction work.
Plans for the new hotel include 75 bedrooms, a restaurant, bar, and co-working space.
Fischmann commented: “I’m excited to be a part of this once in a lifetime rejuvenation of Anzac Parade and I look forward to working with the council to create a world-class hotel on this site”.
