Hotel Indigo Sydney Central is expected to be completed by 2025.

A $200 million dollar development incorporating the 125-year-old City Tattersalls Club in the Sydney CBD, which will see the construction of a 49-storey mixed-use tower with a 100-room hotel, has been approved.

Issued the green light by the City of Sydney Central Sydney Planning Committee late last week, the development at 194 Pitt Street will also include 246 residential apartments, an event centre, co-working spaces and a health and wellness centre all serviced by a combined hotel and club reception on the ground floor.

Tattersalls Club itself will be revamped with new retail and dining establishments along with further facilities for members due to be unveiled in coming months.

The hotel above Tattersalls will include new dining and retail facilities for members and guests.

The project is being carried out in conjunction with ICD Property, with a design competition set to be launched next year. An operating brand for the hotel will be selected as development proceeds.

“City Tattersalls Club’s rejuvenated premises will be a modern multi-purpose facility for inner-city residents and a tremendous new base from which the Club can continue to serve the city and its many thousands of members well into a second century,” said City Tattersalls Club Chairman Patrick Campion.

An early impression of the tower’s design has been released prior to the official design competition and parameters being set next year, however the finished project will incorporate an angular design to ensure it doesn’t block the sun onto the nearby Hyde Park two blocks away.