Luxury $550m Sydney waterfront project under a cloud after Huang Xiangmo hit with tax bill

No builder has been appointed for One Circular Quay and calls to developer’s office go unanswered

The future of a $550m apartment and hotel project on one of Sydney’s most coveted plots of land is under a cloud after the Australian Taxation Office hit the developer’s founder, the controversial businessman and political donor Huang Xiangmo, with a mammoth tax bill.

No builder has been appointed to work on the project, One Circular Quay, which is planned to house 165 luxury apartments in one tower and a 182-room hotel in a second. Industry sources said a builder was not likely to be appointed until early next year at the earliest.

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