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Stamford Land
07-12-2017, 05:39 PM, (This post was last modified: 07-12-2017, 05:41 PM by tonylim.)
Post: #1551
RE: Stamford Land
(07-12-2017, 02:21 PM)wonghw12 Wrote:
(07-12-2017, 12:16 PM)persia Wrote: Seems The Australian is reporting that OCK has re-lodged plans for redevelopment of Stamford Circular Quay? But requires a subscription to access full article.

Stamford revamp plans re-lodged
The Australian-15 hours ago
CK Ow has lodged plans worth more than $135 million to redevelop his longstanding Sir Stamford Hotel at 93-95 Macquarie Street 200m southeast of ... putting Stamford Land Corporation behind other groups wishing to redevelop older buildings around Sydney's Circular Quay, which include Wanda's ...

Thanks! This is the best I can put together based on Google...

CK Ow has lodged plans worth more than $135 million to redevelop his longstanding Sir Stamford Hotel at 93-95 Macquarie Street 200m southeast of Circular Quay. Under the plans the existing 10-level 105-room Sir Stamford Hotel would be converted into a luxury apartment block with part of the hotel's sandstone facades retained. Mr Ow's original plans were stymied by Malaysian conglomerate Mulpha, owner of the nearby InterContinental Sydney and adjoining Transport House, with the two real estate heavyweights facing off against each other in a courtroom stoush two years ago. Under the original Stamford plans for the apartment tower, Mulpha claimed the views from its wholly owned InterContinental Hotel would have suffered. That scheme failed to win support, putting Stamford Land Corporation behind other groups wishing to redevelop older buildings around Sydney's Circular, which include Wanda's plans for the former Goldfields house site. Under the new plans Stamford is seeking approval for 76 residential apartments ...

The previous plan was for more than 100 units , now reduce to 76 units .

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07-12-2017, 07:34 PM,
Post: #1552
RE: Stamford Land
(07-12-2017, 05:39 PM)tonylim Wrote:
(07-12-2017, 02:21 PM)wonghw12 Wrote:
(07-12-2017, 12:16 PM)persia Wrote: Seems The Australian is reporting that OCK has re-lodged plans for redevelopment of Stamford Circular Quay? But requires a subscription to access full article.

Stamford revamp plans re-lodged
The Australian-15 hours ago
CK Ow has lodged plans worth more than $135 million to redevelop his longstanding Sir Stamford Hotel at 93-95 Macquarie Street 200m southeast of ... putting Stamford Land Corporation behind other groups wishing to redevelop older buildings around Sydney's Circular Quay, which include Wanda's ...

Thanks! This is the best I can put together based on Google...

CK Ow has lodged plans worth more than $135 million to redevelop his longstanding Sir Stamford Hotel at 93-95 Macquarie Street 200m southeast of Circular Quay. Under the plans the existing 10-level 105-room Sir Stamford Hotel would be converted into a luxury apartment block with part of the hotel's sandstone facades retained. Mr Ow's original plans were stymied by Malaysian conglomerate Mulpha, owner of the nearby InterContinental Sydney and adjoining Transport House, with the two real estate heavyweights facing off against each other in a courtroom stoush two years ago. Under the original Stamford plans for the apartment tower, Mulpha claimed the views from its wholly owned InterContinental Hotel would have suffered. That scheme failed to win support, putting Stamford Land Corporation behind other groups wishing to redevelop older buildings around Sydney's Circular, which include Wanda's plans for the former Goldfields house site. Under the new plans Stamford is seeking approval for 76 residential apartments ...

The previous plan was for more than 100 units , now reduce to 76 units .

Here are the details:
https://online.cityofsydney.nsw.gov.au/D...pl=1329967
"Click" on "Indicative Reference Scheme" which gives an indicative summary.
I think the FSR (or GFA) is more or less same as before.
The previous scheme has 104 units.
Construction costs has gone up.
Sales price in this locality could have gone up 
______________________________________________________________________________________________________________________
Research, research and research - Please do your own due diligence (DYODD) before you invest - Any reliance on my analysis is SOLELY at your own risk.

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07-12-2017, 08:57 PM,
Post: #1553
RE: Stamford Land
(07-12-2017, 05:39 PM)tonylim Wrote:
(07-12-2017, 02:21 PM)wonghw12 Wrote:
(07-12-2017, 12:16 PM)persia Wrote: Seems The Australian is reporting that OCK has re-lodged plans for redevelopment of Stamford Circular Quay? But requires a subscription to access full article.

Stamford revamp plans re-lodged
The Australian-15 hours ago
CK Ow has lodged plans worth more than $135 million to redevelop his longstanding Sir Stamford Hotel at 93-95 Macquarie Street 200m southeast of ... putting Stamford Land Corporation behind other groups wishing to redevelop older buildings around Sydney's Circular Quay, which include Wanda's ...

Thanks! This is the best I can put together based on Google...

CK Ow has lodged plans worth more than $135 million to redevelop his longstanding Sir Stamford Hotel at 93-95 Macquarie Street 200m southeast of Circular Quay. Under the plans the existing 10-level 105-room Sir Stamford Hotel would be converted into a luxury apartment block with part of the hotel's sandstone facades retained. Mr Ow's original plans were stymied by Malaysian conglomerate Mulpha, owner of the nearby InterContinental Sydney and adjoining Transport House, with the two real estate heavyweights facing off against each other in a courtroom stoush two years ago. Under the original Stamford plans for the apartment tower, Mulpha claimed the views from its wholly owned InterContinental Hotel would have suffered. That scheme failed to win support, putting Stamford Land Corporation behind other groups wishing to redevelop older buildings around Sydney's Circular, which include Wanda's plans for the former Goldfields house site. Under the new plans Stamford is seeking approval for 76 residential apartments ...

The previous plan was for more than 100 units , now reduce to 76 units .

The reduction could be to comply with regulation as the previous plan failed to meet requirements.

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07-12-2017, 09:01 PM, (This post was last modified: 07-12-2017, 09:14 PM by persia.)
Post: #1554
RE: Stamford Land
(07-12-2017, 07:34 PM)Boon Wrote:
(07-12-2017, 05:39 PM)tonylim Wrote:
(07-12-2017, 02:21 PM)wonghw12 Wrote:
(07-12-2017, 12:16 PM)persia Wrote: Seems The Australian is reporting that OCK has re-lodged plans for redevelopment of Stamford Circular Quay? But requires a subscription to access full article.

Stamford revamp plans re-lodged
The Australian-15 hours ago
CK Ow has lodged plans worth more than $135 million to redevelop his longstanding Sir Stamford Hotel at 93-95 Macquarie Street 200m southeast of ... putting Stamford Land Corporation behind other groups wishing to redevelop older buildings around Sydney's Circular Quay, which include Wanda's ...

Thanks! This is the best I can put together based on Google...

CK Ow has lodged plans worth more than $135 million to redevelop his longstanding Sir Stamford Hotel at 93-95 Macquarie Street 200m southeast of Circular Quay. Under the plans the existing 10-level 105-room Sir Stamford Hotel would be converted into a luxury apartment block with part of the hotel's sandstone facades retained. Mr Ow's original plans were stymied by Malaysian conglomerate Mulpha, owner of the nearby InterContinental Sydney and adjoining Transport House, with the two real estate heavyweights facing off against each other in a courtroom stoush two years ago. Under the original Stamford plans for the apartment tower, Mulpha claimed the views from its wholly owned InterContinental Hotel would have suffered. That scheme failed to win support, putting Stamford Land Corporation behind other groups wishing to redevelop older buildings around Sydney's Circular, which include Wanda's plans for the former Goldfields house site. Under the new plans Stamford is seeking approval for 76 residential apartments ...

The previous plan was for more than 100 units , now reduce to 76 units .

Here are the details:
https://online.cityofsydney.nsw.gov.au/D...pl=1329967
"Click" on "Indicative Reference Scheme" which gives an indicative summary.
I think the FSR (or GFA) is more or less same as before.
The previous scheme has 104 units.
Construction costs has gone up.
Sales price in this locality could have gone up 
______________________________________________________________________________________________________________________

Thanks for the link! great info.  Smile 
If i remember correctly, the previous design was more unconventional, with the block of apartment built at a slanted angle... probably wanted to play safe this time round...

EDIT: Previous design could be seen here:
https://architizer.com/projects/macquarie-street-tower/

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07-12-2017, 09:20 PM,
Post: #1555
RE: Stamford Land
Does it make sense to redevelop the Circular Quay hotel to apartments for one time profit vs continuing to operate it as hotel?

I'm looking at the profits coming in from Macquarie Park Village project (which is supposedly a much bigger project) ... and it seems the cost of development is high so profit margins are not so high??   Huh

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08-12-2017, 05:01 AM,
Post: #1556
RE: Stamford Land
(07-12-2017, 09:20 PM)persia Wrote: Does it make sense to redevelop the Circular Quay hotel to apartments for one time profit vs continuing to operate it as hotel?

I'm looking at the profits coming in from Macquarie Park Village project (which is supposedly a much bigger project) ... and it seems the cost of development is high so profit margins are not so high??   Huh

MPV & Stamford on Macquarie (SOM) are two different products with different target markets.
 
If SOM could achieve similar sale price (on per sqm basis) as King and Phillip, it could be just as profitable as MPV.
 
If target sale price (hence target profit) could not be achieved, just run it as hotel. Treat it as a “Call Option”.
 
https://www.domain.com.au/news/hyde-park...18-gyjihw/
 
https://www.domain.com.au/news/new-bronz...25-gxvpbu/

____________________________________________________________________________________________________________________
Research, research and research - Please do your own due diligence (DYODD) before you invest - Any reliance on my analysis is SOLELY at your own risk.

Find Reply
12-12-2017, 07:37 AM,
Post: #1557
RE: Stamford Land
(07-12-2017, 09:20 PM)persia Wrote: Does it make sense to redevelop the Circular Quay hotel to apartments for one time profit vs continuing to operate it as hotel?

I'm looking at the profits coming in from Macquarie Park Village project (which is supposedly a much bigger project) ... and it seems the cost of development is high so profit margins are not so high??   Huh

Sir Stamford Circular Quay is a very dated building. They acquired it from Ritz 17 years ago. Still its a highly rated hotel until today due to the impeccable service. Maybe the large rooms does not efficiently justify their current rev par. Redeveloping into a integrated residential cum retail project for sale could mean unlocking value out from a cost less depreciation asset into cash at max gfa at market price. But its still too early to tell.

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