“We are extremely excited for 372 Pitt to act as a catalyst for the wider precinct, delivering quality architecture, urban activation, increased job opportunities, accommodation, and a successful streetscape retail offering that will improve foot traffic in the southern end of Sydney’s CBD,” said ICD Property CEO Matt Khoo in September.
However, rather than proceed with the project, the co-developers have appointed Knight Frank and CBRE to market the site which will be sold via expressions of interest kicking off on Tuesday.
Some investors had yet to be informed last week, despite agents having already been engaged.
The Pitt Street offering comes to market less than four months after ICD and Belingbak shortlisted five architecture firms to design the tower. In January, a jury of independent judges was to have decided on the winning scheme.
Belingbak and ICD obtained concept DA approval in September for a 58-storey tower, comprising around 300 hotel rooms, 21 luxury apartments and ground floor retail.
“We have been gifted an opportunity to deliver a truly world-class, mixed-use building that elevates the standard of accommodation in Australia,” said Belingbak founding director Jack Montgomery at the time.
A spokesperson for Melbourne-based ICD and Belingbak declined to comment.
It’s likely to attract strong interest given a lack of similar opportunities in the CBD and its proximity to the emerging technology precinct that will include a new timber hybrid tower under…
