02 June 2022
David Marriott, Partner, said “We are thrilled to have signed the Rydges North Sydney. The freehold 167-key hotel is a one-of-a-kind value-add opportunity, sitting on over 2,500 sqm of freehold land, in one of the hottest commercial real estate markets in the country.
There were over $3.4 billion worth of commercial real estate transactions in North Sydney in the past three years and there is some $8.4 billion of large development projects either under construction or in the planning stages. This significant influx of commercial real estate projects with limited hotel supply will only bode well for the North Sydney hotel market.
The Rydges North Sydney commands an enviable location, just off Miller Street and right next to the upcoming Victoria Cross Metro Station, which will significantly benefit the hotel in the future. Victoria Cross Metro Station will connect North Sydney and the hotel with Barangaroo in about 3 minutes."