An eight-storey carpark in Melbourne’s CBD is set to undergo a transformation into a major entertainment hub featuring restaurants, cafes, bars, a hotel, retail spaces, and a “sky garden.
” The City of Melbourne confirmed today that it sold the carpark to Sydney hospitality billionaire Justin Hemmes’ Merivale Group.
The project, located at 34-60 Little Collins Street, has been described as an “iconic landmark destination precinct full of life and vitality.” Justin Hemmes revealed that he had been working on the concept for the past decade and is excited about the potential of the site.
Hemmes emphasized the goal to create an exciting and iconic destination for Melbourne and Australia, offering a social and cultural hub that welcomes everyone. Merivale’s well-known venues, such as Mimi’s and the Italian restaurant Totti’s, will be featured, along with live music, entertainment, a boutique hotel, galleries, and a public sky garden.
Lord Mayor Nick Reece expressed enthusiasm, stating that the development would bring jobs, economic activity, and a world-class entertainment experience to the city.
While the sale price has not been disclosed, it is important to note that Dexus, a property company, holds a lease on the carpark site until June 2037. The sale does not terminate the lease, meaning Merivale will need an agreement with Dexus to change the site’s use before then.
