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Court rules against Stamford Land's A$135M development proposal for Sydney site

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Court rules against Stamford Land's A$135M development proposal for Sydney site

Stamford Land Corp. Ltd. failed a second time to gain approval for the A$135 million development of luxury apartments on the site currently housing the Sir Stamford Hotel in Sydney's Circular Quay, according to The Australian Financial Review.

The New South Wales Land & Environment Court issued a ruling against the approval of any redevelopment projects at the hotel site.

The Singapore-based developer submitted in late 2017 a second proposal for the construction of a 55-meter apartment building that would preserve the heritage exterior of the Sir Stamford Hotel. The latest court case was lodged by Malaysian hospitality and property conglomerate Mulpha to block Stamford Land's development plans, with the court ruling in the former's favor and preventing the City of Sydney Council from approving the project.

Stamford Land first submitted a development proposal for the plot situated at 93-97 Macquarie St. in January 2014, where it had planned to construct a 19-floor tower to house 102 apartments and 1,296 square meters of retail and commercial area. The first proposal was not given the go-ahead as Mulpha, which owns the adjacent Transport House and nearby InterContinental Sydney properties, won a legal battle against the development, according to the Aug. 7 report.

Mulpha's 2013-2014 case against Stamford Land was based on the reasoning that a raised building on the Sir Stamford Hotel site would block views from its InterContinental hotel located about two blocks from the plot.