Developers want to transform the Intercontinental Double Bay site into a “$1 billion dollar lifestyle destination" while acknowleding its star-studded past.
The hotel in Sydney's exclusive eastern suburbs was originally known as the Ritz Carlton, but renamed the Sir Stamford Double Bay back in 2001 and then, after sitting empty for six years, changed again to the Intercontinental in 2014.
A syndicate led by developer Allen Linz bought it for $215 million back in March of this year, with construction set to take place between 2026 and 2028.
Along with three cinemas, high-end retail and dining, offices, a health and wellness centre it will also offer a boutique 39-suite hotel and 29 luxury apartments across the seven-storey building.
The project will be undertaken by COX Architecture, with director Ramin Jahromi saying the design includes a “spectacular atrium with sculptural staircase and striking public art installation, a generous north-facing courtyard, and a six-metre-wide pedestrian walkway".
Capitel Group Managing Director, Eduard Litver also wants to celebrate the unique past of this iconic Sydney hotel.
“There’s been Michael Hutchence, Princess Diana, Bill Clinton and Elton John… so much history and we want to bring that to life to some extent,” Litver said.
Today marks 27 years (November 22, 1997) since INXS frontman Michael Hutchence was found dead in a room at the hotel, and Princess Diana stayed in 1996.