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Old August 28th, 2013, 01:31 PM   #21
Fabian
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I just hope its indicative because it just makes me think of Lumiere & Frasier Suites.

And the height does look good too - appears a little taller than I thought. Against Sydney Tower it will be dwarfed.
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Old August 28th, 2013, 11:46 PM   #22
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love it
todays finrev
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Old August 29th, 2013, 01:52 AM   #23
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This article quotes 280 apartments across 32 floors as well as 7 floors for hotel use. Doesn't appear to be a very large hotel component (if there's 8.75 apartments per floor, 7 floors of hotel rooms wouldn't be much more than 70 hotel rooms).


Quote:
Tatts unveils CBD tower plan
by: Lisa Allen
From: The Australian
August 29, 2013 12:00AM

SYDNEY'S venerable City Tattersalls Club will call for expressions of interest to build a 48-level tower above its Pitt Street headquarters next week after fielding developer interest from groups including Meriton Apartments, Frasers and Brookfield Multiplex.
Unveiling the plans yesterday, City Tattersalls chairman Patrick Campion and chief executive Tony Guilfoyle said the club was looking at the development of its air space because it wanted to reduce its dependency on gaming.

"The reason for this redevelopment is ensuring the club's long-term viability," Mr Campion said yesterday. "The club model is dated and dependent on gaming. What we are trying to achieve here is reduce our dependence (on gaming)," he said.

The club has licence to operate 340 gaming machines.

If it can gain Sydney City Council approval, the club proposes to develop 32 floors of apartments - about 280 units - a seven-floor hotel, a seven-floor upgraded club and a two-floor restaurant and club facility.

The club would retain the seven-floor hotel, which would be developed as a minimum of four stars, as well as a two-floor restaurant atop the building.

Mr Campion was adamant that the club would not sell the air space rights to an outside party, saying the club intended to appoint a development manager under the six-week expression of interest, which would be managed by Colliers International while KPMG will be the corporate governance adviser.

"The members would not countenance the idea we would lose the area we are in," he said.

The plan could be complicated by the neighbouring David Jones department store, which is also reviewing options for its landmark Sydney real estate holdings.

The club was also interested in the project because of growing demand for residential apartments in Sydney's CBD, said Collier International agent Jon Chomley.

"The market demand is incredibly strong, supply is very low."

The supply of CBD apartments dropped 21 per cent last year and there had only been 557 apartments completed in the last couple of years. "There is huge pent up demand for apartments in the CBD and it's very difficult to amalgamate a site," he said.

A City of Sydney spokesman said the council preferred commercial, retail and hotel uses for the Pitt Street location and had stressed to City Tattersalls that heritage facades and interiors must be protected.

"A full upgrade of the heritage buildings in regard to the Building Code of Australia is required," the council said.

Construction of the multi-use complex is expected to take three to four years. No decision to proceed will be made unless the club's 16,000 members agree to the plan.

The club expects to spend $300,000 to appraise the EOI. "That is achievable," Mr Guilfoyle said. Any residential units developed by City Tattersalls will face stiff competition from another apartment tower proposed by Allan Fife, chief executive of Fife Capital, a Sydney-based real estate investment and corporate advisory group.

Plans have been lodged for a $110 million tower at 383 George Street and 46-48 York Street, including 199 one-, two- and three-bedroom apartments and six floors of retail. Colliers International is marketing the project.

Several buildings in central Sydney are earmarked for conversion to apartments.

One block in Bathurst Street will contain 50 apartments.

http://www.theaustralian.com.au/busi...-1226706039240
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Old August 29th, 2013, 11:48 AM   #24
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I think at this stage they are opting for a more boutique option for the hotel, though I feel allocating some more space for hotel might be better. It may mean losing $$$ through apartment sales but an income stream might be more important for them.

I hate saying this but Meriton & Tattersalls aren't a good mix. Maybe Frasers is better.
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Old August 29th, 2013, 01:36 PM   #25
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Why are Meriton and Tattersalls not a good mix? Tattersalls' (like Meriton's) reputation doesn't exactly evoke images of grandeur. A solid middle market apartment / serviced apartment offering is what one would expect from this site, and that is what Meriton would likely deliver.
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Old August 29th, 2013, 02:00 PM   #26
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Meriton are like the discount shop type chain. When I think of a club like Tattersalls it make me think of classyness. It's only an interpretation.
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Old August 30th, 2013, 04:34 PM   #27
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Quote:
Originally Posted by Fabian View Post
Meriton are like the discount shop type chain. When I think of a club like Tattersalls it make me think of classyness. It's only an interpretation.
Tatterstalls makes you think of class? Wow, hate to see what you consider low end.
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Old August 30th, 2013, 11:58 PM   #28
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Well compared to Meriton, maybe Tattersalls is classy...
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Old August 31st, 2013, 04:32 AM   #29
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papervagina got it right.
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Old August 31st, 2013, 03:34 PM   #30
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Members Presentation is available here;
http://issuu.com/citytatts/docs/2708...c08dc4e212ea10

Key Points;
- Upgraded restaurants, bars, gaming, fitness centre, day spa, new entertainment amenities, function areas and subsidiary club facilities
- Enlarged, upgraded and dedicated foyer as the 'grand entry' statement to the club.
- Continuation and enhancement of club facilities with improved street prominence across the 4 buildings.
- 194 Pitt Street allows for separate hotel identity with street prominence (minimum 4 star brand).
- 97 rooms (tbd by market interest)
- 32 floors of residential apartments (high concentration of 1 bedroom apartments)
- Levels 47 and 48 embody significant destination of choice in Sydney.

There are some massing envelopes in the presentation as well as some skyline shots of the indicative development option from the east and west. The envelope steps down from west to east - no doubt to protect sun access to Hyde Park. I expect work is required to mitigate the impact Tattersalls' tower will have on future development options for David Jones to the east. This could mean that Tattersalls does not get the eastern views that they spruik a bit in the presentation.

Please someone with faster internet upload them!
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Old August 31st, 2013, 11:49 PM   #31
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Here they are!!

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Old August 31st, 2013, 11:52 PM   #32
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View from Pitt st looking south

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View from Pitt st looking north

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Old August 31st, 2013, 11:57 PM   #33
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What a fantastic, prime city location.


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Old September 1st, 2013, 12:39 AM   #34
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I was right about the "commerical" levels having something to do with the club which will be the rooftop restaurant.

The Tattersalls club should think of having another three levels of serviced apartments as their "hotel" component.
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Old September 1st, 2013, 05:26 AM   #35
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awesome thanks upwards. looks sentational. love its form
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Old September 1st, 2013, 05:45 AM   #36
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Echos Lumiere and Fraser Suites in certain ways. Looks Good.
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Old September 1st, 2013, 05:53 AM   #37
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there is now 12 skyscrapers surrounding centrepoint tower which range from 130-160m. all really great designs and allow the tower to breathe and keep its head above its surrounds
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Old September 1st, 2013, 08:12 AM   #38
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It's not much taller than nearby towers but enough for it to stand out that little more.
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Old September 1st, 2013, 09:58 AM   #39
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Some more info from the meeting presentation.

They are going for "high quality designer apartments" - so maybe not a project for Meriton!

The council were very positive about the PRE-DA and supportive of the project.

No decision to proceed to develop the airspace will be made without the members voting in favor in 2014.


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Old September 1st, 2013, 11:53 AM   #40
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wonder if we get a block model for city model?
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