On Nov 22, First Sponsor Group, which is 35.72% held by City Developments, and 45.63% owned by Tai Tak Estates, announced that the Central Sydney Planning Committee issued formal approval in relation to redevelopment plans for a 50-storey mixed-use tower submitted by a consortium led by these two companies. 

The approved development application allows for the revitalisation of Sydney’s City Tattersalls Club, located at 194 – 204 Pitt Street in the city’s centre, with upgrades to the Club’s heritage ground floor including new ground floor retail and restaurants, an upgraded lower bar and grill, a state-of-the-art commercial wellness centre, new bars and sophisticated lounge areas, event spaces, and an innovative co-working club. 

See: First Sponsor sees 18.7% earnings growth to $69 mil for 1H21, declares interim DPS of 1.1 cents

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