The acquisition of Melbourne Place Hotel has been successfully completed by Ark Capital Partners and Lead Global, together with support from Pioneer Wealth. Ark Capital Partners and Lead Global will launch a new co-branded hotel fund off the back of this transaction, marking a strategic milestone for both groups.

“The completion of this deal represents the beginning of an exciting partnership between Ark Capital Partners and Lead Global, which will allow us to further capitalise on opportunities in the hospitality sector,” said Rahul Parrab, Co-Founder & CEO of Ark Capital. “We are thrilled to acquire such a prime asset and are confident that this is just the start of many successful transactions to come.”

Grace Tsui, CEO of Lead Global, said, “This acquisition is a key step forward in our long-term strategy for growth in the hospitality sector. We are proud to work with Ark Capital Partners on this exciting journey and are eager to explore further opportunities together.”

Merricks Capital Executive Chairman and Chief Investment Officer Adrian Redlich said he was happy they had found the right buyers for the hotel: “We had many expressions of interest for this unique opportunity, and we believe that Ark Capital and Lead Global will provide the best outcome for the hotel and all stakeholders. We are confident that with their expertise, it will reach its full potential and become one of the most vibrant hotels in the city.”

The design-led boutique hotel soft-opened in late 2024 in a prime Russell Street location, and features 191 room and suites, a ground floor signature restaurant, basement bar and a rooftop restaurant that are set to become destinations in their own right.

Designed by Kennedy Nolan, the new-build hotel features elements that reference Melbourne’s architectural and cultural identity, made from local bricks and pre-cast concrete, alongside deep-red metal accents and circular windows that make it one of Melbourne’s most striking buildings. A grand launch is planned for late Q1 this year.