372 Pitt St, Sydney - SOLD

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Sold for c.$106,000,000 AUD Date of Sale: October 2023
Property Id : 40669

SOLD – DA Approved Hotel Development Site

CBRE Hotels are proud to announce the sale of 372 Pitt Street, Sydney, to Well Smart Group via a campaign run in conjunction with Knight Frank.

372 Pitt Street offers one of the best located freehold development sites situated in the desirable Midtown Precinct of Sydney’s CBD. The 1,296sqm site is Stage 1 DA approved for a 59-storey hotel & residential development.

Design competition was awarded to world-renowned Kerry Hill Architects (KHA) in January 2023, envisages for the Stage 2 DA to develop 17,144sqm of GFA, with an indicative mix of 301 upscale hotel rooms and 21 luxury apartments.

The campaign was successful in extracting over 100 enquiries, with investor interest sourced primarily from Singapore, Australia, United States and Japan.

For more information about the sale please contact Tom Gibson of CBRE Hotels, or Jonathan Vaughan of Knight Frank.

 

Tom Gibson

Director, Capital Markets

Michael Simpson

Managing Director, Capital Markets
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