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Advisory and Transactions

The Ribbon Hotel/IMAX, Darling Harbour

Location

31-33 Wheat Road, Sydney

Local government area

City of Sydney Council

The project
  • Construction of The Ribbon Hotel/IMAX Cinema leasehold redevelopment
  • Works on a Place Management NSW building and public domain area
Delivery timing

Construction is well underway, with practical completion expected to occur in 2022

Benefits
  • Delivery of high-quality tourist accommodation and creation of jobs within the CBD
  • Delivery of an IMAX Cinema
  • Delivery of public open space and additions to a Place Management NSW building.

Property & Development NSW (PDNSW) provides advisory services to Place Management NSW(PMNSW) for the delivery and construction phase of The Ribbon / IMAX Cinema redevelopment at Darling Harbour. This includes PMNSW's obligations under the Agreement for Lease (AFL).

PDNSW is currently working with PMNSW and Public Work Advisory to ensure the continuation of construction works on site. Practical completion of The Ribbon and IMAX Cinema and the public domain and PMNSW building works is estimated to occur in 2022.

Key strategic objectives:

  • Delivery of public open space and additions to the PMNSW building
  • Delivery of high-quality tourist accommodation within the CBD
  • Mitigation and management of critical risks to ensure the landowner (PMNSW) and investor/lessee’s obligations are met under the AFL.

The leasehold redevelopment of the IMAX building includes:

  • construction of a 30-storey building, including a hotel, serviced apartments, retail and entertainment space and a separate two-storey PMNSW building
  • realignment of Wheat Road;
  • upgrade to the surrounding public domain, including a new playground and the relocation of heritage items; and
  • installation of a City Screen and signage zones.

PMNSW, as landowner, has engaged PDNSW as project manager to liaise with the investor and builder and ensure both the lessor (PMNSW) and the lessee’s obligations are met under the AFL.

Contact

Property & Development NSW | Housing and Property

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