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20-07-2015, 10:49 PM
Foreigners in race for Vibe Hotel
THE AUSTRALIAN JULY 21, 2015 12:00AM
Samantha Hutchinson
Property Writer
Ben Wilmot
Commercial Property Editor
Sydney
The race for one of Sydney’s most sought-after redevelopment opportunities has narrowed to a few parties with mainland Chinese groups thought to be setting the pace in the $100 million tussle for Toga’s Vibe Hotel.
Listed Chinese developer Shanghai ZOBON Real Estate is believed to be in the race for the site at 182 Elizabeth Street, with the site also attracting Chinese-backed developer SJD Projects.
However, Shimao Property Group is thought to be focusing on other opportunities. A third party, believed to be a European-based property investor, is still in contention.
The elegant Vibe Hotel, being marketed by Knight Frank and JLL, is at the heart of a transforming precinct, and could yield more than 200 apartments.
It is near properties owned by Chinese developer Greenland, Singapore’s Roxy Pacific and businessman Michael Guo’s Visionary Investment Group.
Competition for Toga’s site comes as a handful of respected property investors shop long-held towers in the hot market.
Altis Property Partners has quietly listed a pub and adjoining commercial tower at 115-117 Clarence Street as a residential and hotel redevelopment opportunity via CI Australia and Knight Frank.
The $100m site atop the Wynyard Hotel is being marketed with a 24-storey scheme designed by PTW architects, including 108 hotel rooms and 107 apartments. Buyers of office towers are also likely to run the ruler over the $60m fully leased property at 160 Sussex Street that JPMorgan will bring to market. The parties and agents declined to comment.
THE AUSTRALIAN JULY 21, 2015 12:00AM
Samantha Hutchinson
Property Writer
Ben Wilmot
Commercial Property Editor
Sydney
The race for one of Sydney’s most sought-after redevelopment opportunities has narrowed to a few parties with mainland Chinese groups thought to be setting the pace in the $100 million tussle for Toga’s Vibe Hotel.
Listed Chinese developer Shanghai ZOBON Real Estate is believed to be in the race for the site at 182 Elizabeth Street, with the site also attracting Chinese-backed developer SJD Projects.
However, Shimao Property Group is thought to be focusing on other opportunities. A third party, believed to be a European-based property investor, is still in contention.
The elegant Vibe Hotel, being marketed by Knight Frank and JLL, is at the heart of a transforming precinct, and could yield more than 200 apartments.
It is near properties owned by Chinese developer Greenland, Singapore’s Roxy Pacific and businessman Michael Guo’s Visionary Investment Group.
Competition for Toga’s site comes as a handful of respected property investors shop long-held towers in the hot market.
Altis Property Partners has quietly listed a pub and adjoining commercial tower at 115-117 Clarence Street as a residential and hotel redevelopment opportunity via CI Australia and Knight Frank.
The $100m site atop the Wynyard Hotel is being marketed with a 24-storey scheme designed by PTW architects, including 108 hotel rooms and 107 apartments. Buyers of office towers are also likely to run the ruler over the $60m fully leased property at 160 Sussex Street that JPMorgan will bring to market. The parties and agents declined to comment.