Colliers offers permit-approved Melbourne-fringe development opportunity for sale
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Colliers offers permit-approved Melbourne-fringe development opportunity for sale
4-12 Leicester Place Carlton is located in the heart of Melbourne’s premier university, biomedical and innovation hub on the fringe of the CBD. For sale by George Hudson, Karen Wales and Yvonne Zhou of Colliers.
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ColliersA high quality DKO design approval for a 13-level hotel project is in place.
Offered for sale via Private Treaty through Colliers marketing agents George Hudson, Karen Wales and Yvonne Zhou, 4-12 Leicester Place Carlton is a prime 704sqm* landholding surrounded by beautiful parks in one of Melbourne's most exciting city-fringe locations.
The site is permit approved, with a high quality DKO design approval for a 13-level hotel project in place, comprising 175 keys with ground level retail activation and rooftop guest amenity spaces.
Source: Colliers
Positioned in a prime location in the university and biomedical precincts, with proximity to Melbourne CBD, the site will be elevated upon the completion of the Metro Rail Project. The Parkville Station development, which is due for completion in late 2025* will provide a direct train connection to this location for the first time, linking directly to Melbourne Airport Rail.
Source: Colliers
The permit is supported with a HMA by a global hotel operator Wyndham, proposing a TRYP by Wyndham with the opportunity for vacant possession.
Growth in lifestyle hotels has increased globally as customers’ expectations have increased around superior guest experience and location rather than a focus on the brand, popularity of the property and price of rooms.
Source: Colliers
Melbourne hotel room rates are setting new benchmarks against what was achieved in pre-covid 2019, achieving a 16% growth in average daily rate in Q1 2023.
*Approximate.
To request a copy of the Information Memorandum please email the agency marketing agents George Hudson, Karen Wales, or Yvonne Zhou of Colliers via the contact form below.
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