Developer TWT Property Group has resubmitted plans for a corner site in Sydney's CBD after securing approval for a hotel scheme two years ago.
TWT, formerly known as Auswin TWT, had approval in place for a hotel development on the CBD site, resubmitting plans for a $16.5 million boutique hotel.
The developer, led by Gavin Zhang, has sounded out plans for a 93-guest room three-star hotel, set to span 16-storeys at its 45 Erskine Street site.
The City of Sydney said the approval for its hotel concept, dating back to early-2018, had now lapsed.
The newly-submitted Candalepas-designed tower will feature a roof top terrace—located at level 14, three basement levels and a ground floor cafe.
Candelapas said the building design was appropriate to its context, and would provide a strong and positive contribution to the undeveloped street corner.
The impact of the coronavirus has left eight out of 10 hotel rooms in Sydney vacant.
According to one of the country’s peak accommodation bodies, Tourism Accommodation Australia, the non-existent tourism sector and plunge in occupancy rates has already driven a number of hotel closures.
Despite this, hoteliers remain confident that the tourism industry will recover and that vacancy levels will improve as tight travel and socialising rules are relaxed.
TWT's new project, if realised, would be flanked two properties at 301-305 Kent Street and 35-39 Erskine Street being developed by private property group Romanous Developments.
Romanous lodged plans to redevelop the five existing buildings across the two adjoining sites into a 29-storey hotel, set to have 360 hotel rooms across the 29 levels and a proposed gross floor area of 11,301 square metres.
TWT is pressing ahead with construction of its NewLife Pyrmont project, comprising 11 high-end terrace residences, and NewLife Bondi Junction delivering 70 apartments across 12-storeys.
The developer recently completed its NewLife Darling Harbour residential development comprising of 199 apartments across four towers.