The project includes existing Merivale venue Hotel CBD on King St and several other buildings which the business bought in 2022.
A boutique hotel will be part of the development, while the rest of the precinct will include food and beverage, office space and wellness facilities. An early artist’s impression includes a night club, a supper club and a jazz club as part of the development.
Merivale’s takeover and repurpose of the five adjacent buildings, which the company describes as “underutilised” and a “mix of under-invested residential, commercial and retail spaces” will not involve any major demolition and construction.
“Today’s announcement is the culmination of many years’ worth of planning and investment into Merivale’s commitment to contribute to the future social and economic success of our beautiful city, with some of the best entertainment and hospitality offerings in the world,” said CEO of Merivale, Justin Hemmes on Friday.
“We are setting out on a mission to transform the separate spaces of these incredible buildings into a combined, licenced precinct that will facilitate quality and accessible entertainment, food, beverage and accommodation options.
“We want to build on the heritage and memories of our Hotel CBD venue which we built and have operated since 1995.
“The precinct is ideally located near public transport, existing retail space and a central CBD location. We are thrilled to bring to life and celebrate some of the CBD’s most beautiful and interesting buildings and share them with the public through the creation of new food, entertainment, office, accommodation and wellness facilities.
“Sydney is entering a new and exciting era for hospitality and entertainment,” said Hemmes.
“Our plans will support the NSW Government’s revised 24-Hour Economy Strategy and Vibrancy Reforms, by creating vibrant and coordinated precincts and places accessible and appealing to visitors and residents alike, as well as supporting nighttime economy workers with greater choice and access to food, beverage and entertainment amenity.”
Executive director of Business Sydney, Paul Nicolaou, applauded news of the development.
“This is exactly the confidence building big thinking that our wonderful city needs and it will have a cascading effect in encouraging other developers to invest in the CBD economy,” said Nicolaou.
“Merivale’s development plans contribute to the city’s economic wellbeing at so many levels including generating hundreds of jobs and injecting life into the 24-hour economy.”
Venues within the new precinct are expect to open as they are completed, bringing the district to life gradually.
