ICD Property’s Visionary 50-storey City Tattersalls Club Redevelopment Approved for Sydney CBD

The ICD Team,

Connect with us on Linkedin »

23rd November 2021

On Monday 22 November 2021, the Central Sydney Planning Committee issued formal approval in relation to redevelopment plans for a 50-storey mixed-use tower submitted by a consortium led by Singapore-listed First Sponsor and Melbourne born ICD Property.

The approved development application allows for the revitalisation of Sydney’s iconic City Tattersalls Club, located at 194 – 204 Pitt Street in the city’s centre, with upgrades to the Club’s heritage ground floor including new ground floor retail and restaurants, an upgraded lower bar and grill, a state-of-the-art commercial wellness centre, new bars and sophisticated lounge areas, event spaces, and an innovative co-working club. On top of the existing heritage floors a podium will be built with a tower above comprising a 101-room hotel and 241 high-end residences.

“To be able to redevelop the City Tattersalls Club, one of Sydney’s longest standing institutions, and preserve that rich history for future generations to enjoy, is a huge honour,” said ICD Property Managing Director Matt Khoo. “Developing new residences in the very heart of Sydney’s CBD, surrounded in every direction by the city’s best shopping, dining, and entertainment precincts such as Westfield Pitt Street, Haymarket, Darling Harbour, Hyde Park, China Town, and Circular Quay – is also not something you see every day. We could not be more excited by this rare opportunity.”

In response to securing approval for their first Sydney development project, First Sponsor’s Group CEO Neo Teck Pheng said, “We have always been attracted to the Australian property market which has seen stable, long-term growth and a particular uptick in the residential sector within the last 18 months. The City Tattersalls Club redevelopment was particularly appealing due to its location in what is arguably the most highly sought-after real estate location in the whole of Australia, as well as the hands-on partnership with ICD Property whose collaboration and local knowledge has been extremely valuable to guiding this project forward.”

Local architect, fjmt studio, has been appointed to oversee all heritage design aspects of the redevelopment, highlighting the building’s beautiful, historic features and the design of the City Tattersalls Club’s interiors. Whilst BVN Architecture has been appointed to design the new 50-storey tower as well as the residential interiors, and Suede Interior Design appointed to design the hotel interiors.

Lina Sjögren, Head of fjmt interiors, commented, “we have worked very closely with ICD and the City Tattersalls Club to ensure the project’s overarching design weaves together old and new, heritage and future vision. Our approach will preserve the beautiful heritage interiors whilst bringing a new and exciting layer of contemporary design that organically integrates and complements the building’s existing features.”

A key component of the redevelopment’s design is the smooth integration between the 50-storey tower and its heritage base. BVN Principal Architect Phillip Rossington said, “In the design we’re connecting the new tower to the existing ground floor heritage components through a podium that includes a spectacular open outdoor terrace. This will soften the view of the exterior from the street and create a sense of harmony. The podium combines function and form, operating as the hotel’s amenity levels while simultaneously creating a holistic view of the overall building.”

The result is an innovative, contemporary tower façade that graciously flows down towards the Pitt Street streetscape, seamlessly integrating with the Club’s rich heritage and enticing more foot traffic through an inviting ground floor featuring world-class public amenities.

City Tattersalls Club, Group CEO Marcelo A. Veloz, who leads the 20,000+ member strong Club, expressed his enthusiasm at this latest key milestone by saying, “This redevelopment has been years in the making and tribute must be paid to ICD, First Sponsor, fjmt, BVN Architects and the incredibly talented team of consultants behind the scenes that contributed to getting this approval. It will enable us to offer existing and future members a substantially expanded roster of amenities that will appeal to a larger worldwide audience.


It is an honour for our Club, which has been part of Sydney’s history and growth for the last 126 years, to now be able to contribute to the city’s iconic skyline through a new connected landmark tower; and create significant value through the improved activation of our Pitt Street frontage. We have always considered ourselves a community hub, a place for people to escape the fast-paced rhythm of our city and we look forward to continuing that legacy well into the next century,” said Mr Veloz.


The City Tattersalls Club redevelopment represents one of the very last residential opportunities of its kind in Sydney’s CBD. The premium apartments occupying the top floors of the tower will offer impressive views over Sydney’s city skyline and harbour and give residents exclusive access to premium amenities including several multipurpose rooms, private dining lounges and a luxurious outdoor deck with BBQ and entertainment rooftop facilities.


Moving forward, the City Tattersalls Club redevelopment is preparing to launch its luxurious and exclusive 241 residences to market in Q2 2022, with construction expected to follow soon after in the middle of the year. Interested buyers can leave their expression of interest at or


Read more at:

Australian Financial Review

Other posts

Get in touch

For ICD Property, the future is an exhilarating place. Our vision expands, our relationships strengthen and accomplishments are acknowledged. We continue to thrive and excel. The time to partner with us is now.

Our culture is based on the exchange of good ideas and constant dialogue between all members. If you share our egalitarian and creative approach to work (and life), contact us today.

Level 18, 303 Collins Street

Melbourne VIC 3000