HOTEL, TOURISM & LEISURE

Developer selling Cremorne boutique hotel

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DEVELOPER Belgrave Group has put a recently constructed six-storey building at the busy Melbourne city fringe intersection of Punt Rd and Swan St up for sale, awaiting approval for use as a boutique hotel.

The property, 375-377 Punt Rd, is close the Melbourne sporting precinct that includes the MCG, AAMI Park and home of the tennis Australian Open. It has a 3,161 sqm building with a roof deck and twin-level basement with a permit for 18 parking spaces, on 450 sqm of land.

Approval is pending for completion as a boutique hotel with potential for alternate uses. The ground floor could suit a variety of purposes, including a food and beverage hospitality operation.

CBRE Hotels’ Scott Callow has been appointed to sell the site via expressions of interest closing 1st May.

Formerly a hive of factories and warehouses, Cremorne has become a tech hub in home to top 500 companies including Disney, Uber and Tesla. MYOB has just signed a 10-year pre-commitment across six levels of a $100 million nine level office building within Caydon’s $1 billion mixed use Nylex silos redevelopment The Malt District, while job search portal Seek is moving into a new building of 27,600 sqm at 60 Cremorne St.

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