The recent purchase of the Sir Stamford Hotel at Circular Quay by JDH Capital for $210.5 million to be converted into luxury apartments is the start of a more open-minded approach from investors to look at alternative uses for existing assets.
JDH Capital also purchased The Vibe Hotel in Rushcutters Bay in late 2021, which is being converted from 260 rooms to 120 luxury residential apartments and is due for completion late 2023.
“The Sir Stamford Hotel proposes the conversion of 105 hotel rooms to potentially 90 luxury apartments,” says Dedico development director John Green.
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