Construction has commenced on a AU$275 million five-star hotel at 499 Kent Street in Sydney.
The 228-key Florin Hotel, which will operate under EVT Hotels and Resorts’ Independent Collection, is expected to be completed in the second half of 2027.
The joint venture team behind the project consists of owners Int.re – pronounced ‘inter’ and formally known as Icon Developments – and local developer Icon Oceania, which previously delivered the award-winning Vibe Darling Harbour.
After acquiring the site in 2023, the joint venture enlisted SJB Architects and EVT to bring its vision for a heritage-inspired luxury hotel to life, with Hickory appointed as the builder.
“Sydney is such an exciting market at the moment, and this is an outstanding site to be delivering a world-class hotel; collaborating and bringing the vision to life with our project partners Icon Oceania along with EVT, SJB, Hickory is a significant achievement for our business,” said Int.re CEO, Matthew Bourke.
“2025 has been a watershed year for our team with the evolution of Icon Developments to the Int.re business, the integration of our property-first investment-led approach has allowed us to invest in partnerships in new sectors and new markets.”
SJB Architects’ design pays tribute to the history of the building, first constructed in 1936, which once served as the Australian headquarters of Universal Pictures.
The design plans include “subtle cinematic touches” in guest rooms and a dramatic “vertigo suite” on the 18th floor looking down on the city below through a transparent glass floor.
The hotel will also include a ground-floor restaurant and bar, ground-level courtyard with living green walls and quiet spaces, a rooftop infinity pool, and two-level rooftop bar.
A striking 3D art façade across the 20 levels will capture attention from the street, changing in appearance with the light throughout the day.
“Our team is passionate in bringing EVT’s Independent Collection signature approach to Florin Hotel, leveraging the scale and expertise of our hotel solutions to ensure operational excellence, culinary dining and bar experiences while executing premium, personalised customer service to every guest,” said EVT Director of Hotels and Resorts, Norman Arundel.
Icon Oceania Managing Director, Nico Tjen, said Florin Hotel represents an incredible opportunity for the team.
“This is a much-loved and historic site, and we are honoured to be entrusted to deliver a project that adds luxury, amenity and landmark accommodation to the Sydney CBD, while still celebrating its heritage,” he said.
The project marks a move into hotels for Int.re – building on a portfolio of residential, industrial and commercial property – with the group now looking to expand its footprint in hotels across Australia and New Zealand.