This article is from the Australian Property Journal archive
THE owners of Melbourne’s Photography Studies College (PSC) have lodged plans for a 31-storey hotel development at Southbank.
The 910 sqm site at 63-69 City Rd was offered for sale by agents Fitzroys, on behalf of Webjet director Steven Scheuer and PSC’s managing director Julie Moss.
The College is currently based at the site.
The property was put on the market in July and was expected to sell for in excess of $13 million. However a development permit would significantly increase the value of the site.
In light of the new proposal, the site will be offered with development plans for an expanded PSC and 270-room hotel within a 31-level building, designed by renowned firm Crone Architects.
Levels 1 to 4 will be occupied by the college and the hotel will occupy levels 10 to 29, with level eight providing indoor and outdoor dining areas.
Fitzroys agent Michael Ryan said the hotel development will combine both an assortment of luxury suites with the new concept of POD apartment rooms, which have become incredibly sought after by visitors in Japan and the USA looking for prime location, ultramodern facilities at a very reasonable rate per night.
“There is absolutely demand in Melbourne from people who don’t want to spend $300 a night, and the POD concept will fill this massive gap in the Melbourne hotel market.
“There are few mid-priced options in the city, and they were often part of less desirable economy chains or ageing tourist hotels. Alternatives like this POD style hotel will hold massive appeal in Melbourne because of their boutique nature – technologically savvy, intelligently designed, very comfortable, and of course very affordable,” he added.
Ryan said the incredibly rare city fringe development opportunity had in particular piqued the strong interest of one offshore group and an Australian hotelier.
“Southbank has become incredibly popular, spurring luxurious and contemporary high-rise development activity and pent-up demand for new ultra-chic well-priced hotel concepts providing urban lifestyle accommodation with attractive riverside views,” he concluded.
Australian Property Journal
