39-41 York St, Wynyard: Invictus Developments hotel plan recommended for approval

An international developer’s plan to turn an old bank into a 15-storey hotel in the heart of Sydney has been recommended for approval. Here’s what it would look like.

A Singapore developer’s plan to turn the former Bank of China building into a 15-storey hotel in the heart of Sydney has been recommended for approval, with a planning panel now set to decide the proposal’s fate.

Invictus Developments has lodged an application with the City of Sydney council to build a 152-room hotel with a food and drink premises, rooftop bar and gymnasium in Wynyard.

The $29m development, which would be located at 39-41 York St, is set to be discussed at a City of Sydney local planning panel meeting on Wednesday.

The developer submitted an initial proposal in March but was asked by a council subcommittee to provide more details and make amendments to address issues that included non-compliance with sunlight provisions.

Planning panel documents show it subsequently received amended information that was described as having “adequately responded to the preliminary concerns raised with the application”.

An artist’s impression of the proposed hotel.

As a result, council planners have recommended that the proposed development be approved with conditions.

Invictus bought the former Bank of China building last year, marking a significant step toward its ambition of building a hospitality portfolio valued at $326m in Australia.

What the proposed York Street hotel would look like from ground level.

With the proposed project is expected to be completed in 2026, Invictus intends to gut the building to its concrete skeleton and aims to craft a facade that offers a “welcoming hospitality venue” and enhances the streetscape.

A City of Sydney spokeswoman said while the building was still under consideration, it was a development that could contribute to the city's “strong tourism sector”.

A current view of York St.

“Central Sydney has a diverse mix of commercial and residential buildings, including hotels which are vital for a successful global city,” she said.

“They support Sydney’s role as a desirable destination for international, domestic and business travellers and contribute to our strong tourism sector.”