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JDH Capital is moving to its next Sydney CBD project, planning the redevelopment of one of the most expensive single-asset properties in the country.
The private investment firm, led by Jean-Dominique Huynh, purchased the Sir Stamford Circular Quay hotel for $210.5 million at 93 Macquarie Street in 2022.
It was one of only two hotels to sell for more than $100 million in Sydney, behind the Waldorf Astoria Sydney, which sold to Andrew and Nicola Forrest for $520 million.
The purchase came after JDH Capital’s statement redevelopment of the landmark Sirius, a former housing commission building next to the Sydney Harbour Bridge at The Rocks.
The developer has now shifted its sights to Circular Quay, filing plans with the City of Sydney this month for a 17-storey residential tower.
The new 1612sq m development is surrounded by heritage-listed, former government buildings, including the Department of Health building built in the 1890s.
Although the Stamford Hotel looks older, it was built in 1988, and would be demolished to make way for the new tower comprising 69 apartments, cafe, lobby and through-site link to Albert Street.
BVN won the design competition for the project and plan to adaptively reuse the State heritage-listed health building with a restaurant, cafe, commercial tenancies and end-of-trip facilities proposed.
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The design brief included complementing the heritage fabric, creating a “quiet facade” and backdrop to the adjoining Justice and Police Museum, and a mix of dark face-brick and sandstone within the facade.
BVN’s design for the Sirius development maintains the building’s geometric feel in its new guise as a luxury residential offering.
JDH Capital’s other current project is Nautique, a mid-rise residential development at Rushcutters Bay.
