Property Development

BPM Sells Unbuilt Hotel on Little Collins Street

Written by The ReReport
As seen in the Source link, written by theurbandeveloper.com on 2019-07-02 15:57:50

BPM and the Uniting Church has sold an eight-storey office building in central Melbourne with approval for a hotel development.

The tower at 130 Little Collins Street, the Uniting Church Centre, sold to Jeff Xu’s Golden Age Group along with a permit for a 27-storey Elenberg Fraser-designed hotel.

The permit comes courtesy on a joint venture which the Uniting Church struck over the site in 2015 with developer BPM, led by Jonathan Hallinan.

The 184-room hotel was originally knocked back by Melbourne Council, but was approved late last year after the church took the case to the Victorian Civil and Administrative Tribunal.

Owned by the church’s property trust, the existing building comprises a net lettable area of 3,797 square metres, comprising eight levels of office, ground floor retail, a chapel, and 15 car spaces.

The Uniting Church moved to offload the building ahead of its move into Charter Hall’s redeveloped Wesley Place tower at 130 Lonsdale Street, due for completion in 2020. The Little Collins Street property was sold with a leaseback to the Uniting Church.