Located on one of Melbourne’s signature laneways, Exploration Lane, the latest high profile commercial opportunity set amidst the bustling CBD will ultimately position guests within walking distance major features including the Melbourne Cricket Ground, Melbourne Museum, Carlton Gardens, State Library and countless retail offerings.

Ray White’s Managing Director of Hotels Asia Pacific, Andrew Jolliffe comments, “As a major gateway to Australia, the Melbourne hotel market provides an attractive destination for hotel capital supported by strong trading fundamentals. As additional supply has entered the Melbourne market over recent years, the city has proven time and again its ability to quickly absorb new stock through increased flight capacity at Melbourne Airport; coupled with an unparalleled key events calendar”.

Being on the North Eastern corner of the CBD, and designed by world-renowned architect Elenberg Fraser, guest facilities at the hotel will include a restaurant and bar.

The building is offered for sale in a flexible manner, with vacant possession or management agreement in place. 

A number of leading international hotel management companies have already expressed an interest in managing the property, which in turn provides investors with a blank canvass to turn this opportunity into a truly unique offering.

“With a number of significant transactions having been completed in the Melbourne CBD over recent years, and limited stock available to investors, opportunity awaits for an astute investor seeking to acquire a site with both DA and BC already in place. Having already these two important pieces of the process finalized, and coupled with a partnership with Melbourne’s leading developers BPM, the Exploration Lane opportunity provides investors with the opportunity to create a market leading boutique hotel” adds Mark Bullock, Ray White Hotel’s Director of Investment Sales and Advisory.

The construction of the tower is planned to commence in 2018 with handover anticipated for 2019.

Expressions of Interest will close Tuesday 24 April 2018 at 4pm.

Click here to view the property listing on the Ray White Hotels website with additional photography and information.

To discuss the sale in further detail, phone or email Andrew Jolliffe or Mark Bullock of Ray White via the below contact details.

See also:

Andrew Jolliffe awarded top international Ray White agent

Get to know Mark Bullock - Director, Investment Sales & Advisory, Ray White Hotels

New Novotel and Ibis Styles hotel set for Melbourne Airport

International developers vying for St Kilda's Novotel Hotel site