$450m tower proposed for Pitt Street redevelopment

 A 56-storey tower has been proposed for the site of an existing three-storey commercial building at 372 Pitt Street in Sydney, with developers Belingbak and ICD Property estimating the project is valued at around $450 million.

Announced this week, the two developers have submitted a ‘concept development application’ (DA) to the City of Sydney for the redevelopment of 372 Pitt, with the final build to include 304 hotel rooms, 28 residences and ground floor retail.

The proposed project is certainly a rare opportunity for the Sydney CBD, and was made possible after Belingbak amalgamated seven properties over the course of a year to create the singular 1,140sqm site.

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