Stamford Land Corporation has lodged an application to redevelop a heritage site in Sydney, Australia.

The mainboard-listed company said in a statement that the proposal for the development of 93-97 Macquarie Street where its Sir Stamford Circular Quay hotel currently stands, includes retaining and adapting the former Health Department Building.

The building is listed on the State Heritage Register.

Stamford will also build a 19-storey building for residential and commercial use.

With a gross floor area of 14,835 square metres, the building will comprise 104 residential apartments and 1,331 sqm of retail and commercial space.

The site, which is adjacent to the Royal Botanic Gardens, affords spectacular views of the Sydney Opera House and Harbour Bridge.

Stamford executive director Ow Yew Heng said: "Lodging the development application is part of Stamford's continuous effort to unlock greater value from our assets."

Stamford will continue to operate its Sir Stamford Circular Quay hotel.