The luxury hotel to be built over Sydney Harbour as part of the $6 billion Barangaroo project is doomed after a review of the development ordered by the state government.
The findings of the review into Barangaroo, which will be considered by cabinet today, include a recommendation that the developer Lend Lease be urged to move the hotel to another part of the Barangaroo site as a ''demonstration of goodwill''. The landmark hotel, a cornerstone financial project, was not part of the original concept plan for Barangaroo but was included in Lend Lease's amendment in August last year.
A decision to locate the hotel over the harbour should be reviewed according to the report. ''It is the view of this review that the decision to select Lend Lease's non-conforming bid with the hotel in the harbour was consistent with good commercial practice and probity guidelines,'' the report says. ''But it looked and felt like an ambush to a number of those who had invested in the process leading up to the concept plan.”
The hotel, Sydney's first international premium hotel for more than a decade, was described by Lend Lease as being integral to the vibrancy of Barangaroo.
Comments
Post a Comment