This article is from the Australian Property Journal archive
Construction on the new $65 million five-star Sofitel Sydney Olympic Park has began.
The Sofitel will become western Sydney’s first five-star hotel, located on Olympic Boulevard opposite the existing Novotel and Ibis hotels, which are also managed by Accor. The two developments will be linked by a two-storey common underground car park, which will bridge Herb Elliott Avenue.
The 20 storey Sofitel will offer 212 deluxe rooms and suites, a signature restaurant, bar and conference facilities. The hotel is scheduled for completion in early 2008.
Project manager for the construction of the hotel is St Hilliers, and Tourism Asset Holdings Limited will own the hotel.
In addition to the new five-star Sofitel hotel, a $19 million two-star Formule 1 hotel will also be built at the Olympic precinct, due for completion in the first quarter of 2008.
The new Sofitel and Formule 1 hotels will bring the total number of hotel rooms at Sydney Olympic Park to approximately 700.
The ground-breaking for the Sofitel comes six years after the end of the 2000 Olympic Games and the hotel’s development is part of the vision to create a thriving economic centre in the heart of western Sydney.
Accor has acquired a 94-year leasehold interest from SOPA. This lease will commence upon completion of the building.
The announcement of the new Sofitel follows several recent developments at Sydney Olympic Park.
More than $159 million in new investment has been earmarked, including a new state-of-the-art building for the New South Wales Institute of Sport, plans for an education precinct, the creation of a new regional parkland and the Commonwealth Bank of Australia’s relocation of 5000 staff to the Park by 2009.
By Adam Parsons
