Congratulations to Greaton on completion of the Ribbon project at Darling Harbour, comprising the largest W Hotel in the world, including the new redeveloped IMAX theatre experience and retail.
Vincent Young lawyers is excited to have had the opportunity to have worked alongside the dedicated Greaton team on this very interesting project, which has become a landmark for Sydney.
The project provided many jobs during construction and will have a significant positive impact on the Sydney landscape providing employment in the W Hotel, the retail areas and IMAX, along with the many support industries servicing the project. The now completed offering of a 5 star hotel with its own restaurant and bar facilities and surrounding public domain works will help bolster tourism, especially within the Darling Harbour precinct.
The Ribbon is constructed on land owned by a NSW government entity and its base title is long term leasehold, typical of developments within Darling Harbour, King Street Wharf, Walsh Bay and other NSW government entity or state owned corporation harbour land. The project includes significant contribution works to Darling Harbour at the western end of the site including an extension to Tumbalong Park between the hotel and the International Convention Centre.
From a legal titling perspective the Ribbon comprises 3 stratum titles, for the hotel serviced apartments and the retail including IMAX areas, with interdependent rights of support and reliance on many easements and rights created with registration of the stratum plans and a Management Statement regulating the management of shared facilities – again, a typical structure for major projects with separate uses and stratum.
The developer faced a number of challenges with the Ribbon project, including a landmark design constructed between major freeways and having to manage multiple principal contractors through COVID and insolvencies. Well done on overcoming all the challenges to launch an impressive world class multi-use building.
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