Mining and property billionaires, Andrew “Twiggy” Forrest and his former partner Nicola Forrest, have claimed a place in Sydney’s skyline after the practical completion of the country’s first Waldorf Astoria hotel.

The $575 million, 26-storey tower overlooking Sydney Harbour comes with enviable views and correspondingly high room rates. The tower officially “topped out” this week, and is a key anchor building for the $3.1 billion One Circular Quay project.

The power couple bought the future hotel in February 2023 through Fiveight, a property company that is part of their private investment arm, Tattarang. The hotel was built and developed by Lendlease in partnership with Mitsubishi Estate Asia.

The upmarket Waldorf sits alongside a public precinct that includes retail and dining venues. Construction of the hotel now moves to the next phase, including installation of the façade – a mix of sandstone, green walls and glass designed by Kengo Kuma & Associates and Crone Architects.