Leading Australian property group Aqualand has announced plans for a unique 40-storey complex in North Sydney, combining a luxury hotel with build-to-rent (BTR) apartments.

The project, set to be built on the site of Aqualand’s existing commercial building at 132 Arthur Street, marks the company’s first venture into the hotel sector.

The proposed tower will feature a 240-key hotel spread across 12 storeys, with approximately 225 BTR apartments occupying 25 storeys above.

The ground floor will house food and beverage offerings, a hotel lobby, and conference space.

Strategically located in the rejuvenated North Sydney CBD, the development will be just 450 metres from North Sydney Station and 250 metres from the upcoming Victoria Cross Metro Station.

Jin Lin, Aqualand’s Group Managing Director said: “We’re excited to progress our third residential project in the North Sydney Council.

“This project will also see our first foray into the hotel space, which demonstrates our unique ability to pivot to whatever best suits the location.”

The hotel is designed to fill a gap in North Sydney’s accommodation market, offering an “edgy and urban vibe” rather than a standard corporate-style experience.

Lin described the concept as something “you’d expect to see in Surry Hills, more so than North Sydney,” drawing inspiration from hotels in New York’s East Village, London’s Shoreditch, and Berlin.

Aqualand’s BTR component aims to address Sydney’s high-quality rental shortage by providing professionally managed residences in a prime location.

The development will offer residents a range of amenities, including a sky deck, lounge area/bar, pool, gym, workspaces, and communal dining room.

This project further solidifies Aqualand‘s commitment to the North Sydney area, following their award-winning BLUE at Lavender Bay development and the recently completed AURA by Aqualand precinct.

The company’s lifestyle and hospitality arm, Etymon Projects, is also contributing to the area’s revitalisation with several world-class venues.

As Aqualand awaits approval for its Secretary’s Environmental Assessment Requirements (SEARs) application, this ambitious mixed-use development promises to play a significant role in North Sydney’s ongoing transformation, enhancing its appeal in the tourism sector and fostering a vibrant 18-hour economy.