York Street: Adaptive Reuse of Bank of China Building into 152-Room Hotel

Written by

Charbel Abousleiman

Urban Planning Lawyer & Buyers Agent

22/10/2024

Invictus Pacific Alpha Management has advanced plans to breathe new life into the long-vacant Bank of China building at 39 – 41 York Street in Sydney CBD. The site is at the southern end of a row of predominately rectilinear towers along York Street.

The development, recommended for approval, seeks to transform the 15-storey commercial office tower into a 152-room hotel, complete with a rooftop bar, food and beverage facilities and a gym.

Located right across from Wynard Park and Sation, the adaptive reuse of this dormant building represents a significant investment in the city’s tourism and hospitality sectors. The hotel will provide over 4,427 sqm of floor space.

Photomontage of rooftop bar and lounge

The proposed upgrades to the former bank building include:

Change of use from office to hotel
Removal of existing basement car parking level, converting it to space for hotel back-of-house
Reconfiguration of the ground level to accommodate hotel reception/lobby, together with food and beverage offerings indoor and outdoor
Internal alterations on levels 1-14 to accommodate 152 hotel rooms, plus a gym on level 1
External alterations and additions to the rooftop to accommodate a bar with outdoor seating
Installation of new solid aluminium cladding in bronze metallic finish over the pre-cast panels on each building façade

These works are estimated to cost over $29 million.

Invictus bought the site from the bank for $52.5 million.

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