TAB Developments has put to market the leasehold operation of its revised London Hotel waterfront project, on the site of the former pub demolished in 2017.
Despite significant local outcry and efforts by Council and the Port Melbourne Historical Society to preserve the original building, built 1851, the Victorian planning minister rejected an application for heritage overlay and the two-storey London was levelled by TAB Developments, owned by Gary Busuttil.
The company was aiming for an eight-storey mixed-use residential structure on the site, which was an expansion of a six-storey development approved by the City of Port Phillip back in 2000.
Following the ruling against granting it heritage status, and its subsequent demolition, the City approved a revised application in late 2017, subject to conditions relating to preserving local amenity and insistence on installation of a commemorative plaque to honour the former building.
The application included construction of a three-level hotel venue, covering approximately 958sqm, with capacity for 300pax and a 3am licence. The project is expected to be completed early 2021.
Behind and above the pub with be seven levels containing 18 apartments, plus an underground carpark.
TAB has engaged CBRE Hotels’ Mat George and Scott Callow to steer a marketing campaign seeking a lessee to operate the new state-of-the-art premise, with offers of attractive lease terms, and incentives including fit-out assistance.
The site, at 92 Beach Street, is directly across from Port Melbourne Beach, and a dock for the Spirit of Tasmania.
There are high-density housing projects underway in the area, and nearly 8,000 residents in close proximity to the new hotel, implying strong trade is possible once open.
The leasehold interest of the London Hotel is being offered via an Expressions of Interest campaign, closing Wednesday, 8 April.
