Colliers are offering 4-12 Leicester Place, Carlton, VIC for sale via Private Treaty. The property is permit approved for a 13-level hotel in Melbourne’s most exciting city-fringe location.
This property is in an A+ location in the heart of Melbourne’s premier university, biomedical and innovation hub on the fringe of the bustling CBD. The prime 704sqm* land holding is surrounded by beautiful parks and will only be elevated upon the completion of the Metro Rail Project in 2025*.
4-12 Leicester Place, Carlton attributes include:
- Prime location in the university and biomedical precincts, and proximity to Melbourne CBD along with the Parkville Station development due for completion in late 2025* providing a direct train connection to this location for the first time and will link directly to Melbourne Airport Rail.
- Permit approved high quality DKO design approval for a 13-level hotel project, comprising 175 keys with ground level retail activation and rooftop guest amenity spaces.
- The permit is supported with a HMA by a global hotel operator Wyndham, proposing a TRYP by Wyndham with the opportunity for vacant possession.
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.
Growth in lifestyle hotels has increased globally as the customers expectations around superior guest experience and location has increased rather than focused on the brand, popularity of the property and price of rooms.
Contact Colliers brokers George Hudson or Karen Wales for further information.
