Salter Brothers pushes bold Darling Harbour overhaul with 1000-apartment vision
Salter Brothers is aiming to shake up Sydney’s Darling Harbour with a major redevelopment of the Novotel and Ibis hotel sites that could see 1,000 new apartments added to the harbourside precinct.
The high-profile investment firm lodged its ambitious plan through New South Wales’ controversial unsolicited proposals process on behalf of the site’s owner, the Abu Dhabi Investment Authority (ADIA). The proposal includes replacing the Novotel with a new premium hotel, refurbishing the Ibis, and erecting residential towers that would significantly reshape the skyline.
“We are working hard to create a family-friendly destination that underpins the local tourism sector, preserves the natural environment and celebrates the island’s cultural significance,” Cannon-Brookes said.
“It’s a big task and wouldn’t be possible without the tremendous support we’ve received from the local community.”
The scale dwarfs current developments nearby – including Mirvac’s $2 billion Harbourside Shopping Centre redevelopment, which features a 43-storey luxury tower and revamped retail. The Salter proposal is partly seen as a response to that.
While Salter Brothers’ earlier attempt to refinance Star Entertainment fell through, the company is forging ahead with a planned hotel float, aiming to build a A$3 billion hospitality portfolio by 2026.
This latest proposal could help rejuvenate the aging hotels and secure ADIA’s views over the harbour, which risk being obstructed by Mirvac’s project. A previous attempt to sell the assets in 2021 for over A$500 million was unsuccessful.
The plan has advanced to stage two of the state’s assessment process, with the panel citing potential housing, tourism and night-time economy benefits. Salter is also seeking a 99-year lease from Place Management NSW to enable residential sales.
Jonathan Jackson, 21st July 2025
