Aqualand's 42-storey North Sydney hotel, BTR tower at Prepare EIS

A proposal to demolish the existing building at 132 Arthur Street, North Sydney, and replace it with a mixed-use hotel and build-to-rent tower, claimed by Aqualand as its own project, sits at the Prepare EIS stage on the NSW Major Projects Portal, according to the State Significant Development record (SSD-72980712) checked on 2 November 2026.

For builders and contractors, a project at this stage is not yet a tender prospect: its environmental impact statement has not been exhibited.

Why it matters

The portal record describes demolition of the existing building and construction of a mixed-use build-to-rent and hotel accommodation development, with 225 build-to-rent units, 240 hotel rooms, retail and three levels of basement car parking, in the North Sydney local government area. The public record names no applicant and states no building height. It carries a current status of “Prepare EIS,” meaning the application has not reached public exhibition or determination, and attachments on the record are limited to a request for Secretary’s Environmental Assessment Requirements and the SEARs themselves, neither dated on the page. Aqualand’s own project page for 132 Arthur Street describes “Aqualand’s build-to-rent project” at the same address, and states the proposal would replace an existing 16-storey commercial building with a 42-storey tower holding 240 hotel rooms and 200 build-to-rent apartments, along with conference and events space, a bar, cafe and dining space, a pool and gym, and a rooftop terrace. Aqualand’s page lists the proposal as current to October 2024 and separately notes a 5 July 2024 news item saying Aqualand lodged a SEARs request, which is consistent with the attachment named on the portal record but is not itself a portal date.

The numbers

The portal’s own figures for the application are 225 build-to-rent units and 240 hotel rooms. Aqualand’s project page states 200 build-to-rent apartments and the same 240 hotel rooms, and is the only source giving a height, at 42 storeys over a 16-storey existing building. The discrepancy between 225 and 200 build-to-rent units is unresolved between the two sources available for this story.

What’s next

Because the application remains at the pre-exhibition Prepare EIS stage, it has not reached public exhibition or a determination, and the portal lists no timetable for either step. The Australian Developer will track SSD-72980712 through exhibition and determination.