Future Victoria: From paved parking lot to play paradise and swinging hotspot: CBD space to be transformed

Sydney restaurant king Justin Hemmes will transform an eight-storey Melbourne CBD carpark into a major entertainment hub with a boutique hotel, sky garden, shops, restaurants and bars.

Parkade will be Merivale’s most innovative project yet. Picture: Timothy Burgess

Sydney restaurant king Justin Hemmes will transform an eight-storey CBD carpark into a major new entertainment hub with a boutique hotel, sky garden, gallery and hospitality venues.

The major entertainment development, touted as an “iconic landmark destination precinct full of life and vitality”, will also include exhibition spaces, dedicated live music areas, a day spa, retail spaces and several restaurants and bars, including popular Italian eatery Totti’s and southeast Asian fusion venue Mumu.

The City of Melbourne sold off the car park at 34-60 Little Collins St in the CBD – known as the Parkade – to Merivale Group on Tuesday night in a confidential session of the council ­meeting.

Merivale chief executive Mr Hemmes said the Parkade project was the company’s most innovative yet.

“Parkade offers such an incredible opportunity to do something so special for the people of Melbourne,” Mr Hemmes said.

“The revitalisation and repurposing of this underinvested yet wonderful site has the potential to be an incredible addition to the fabric of Melbourne, an iconic landmark destination precinct full of life and vitality.”

Lord Mayor Nick Reece said the project was a huge vote of confidence in Melbourne from Merivale.

“This entertainment precinct will be right on the doorstep of Melbourne’s world-class theatre district – and create hundreds of jobs and generate millions of dollars for the local economy,” he said.

“More than just a typical pub or hotel, Merivale’s ambitious vision showcases our love for culture, music, fine dining and fitness – offering an iconic experience for residents, workers and visitors day and night.

“This deal is the right move to propel our hospitality scene even further – adding to our extensive collection of venues, driving visitation and cementing Melbourne’s reputation as the best place to do business.”

A render of the proposed development at 34-60 Little Collins St, Melbourne.

The car park will become a swinging hotspot. Picture: Timothy Burgess

It’s understood Merivale was selected as the preferred bidder for the car park late last year, and the company developed a bespoke project to further boost the east end of the city’s hospitality offerings.

This project will also build on the success of recent hospitality developments in the east side of the city such as Maison Batard on Bourke St by Melbourne restaurateur Chris Lucas and also restaurants and bars within the 80 Collins St precinct such as Society, Farmer’s Daughters and Nick and Nora’s.

The new development will be over the road from much-loved Melbourne restaurant San Telmo in Meyers Place, will front Bar Lourinha on Little Collins St and be half a block away from the recently refurbished Morris House.

It will house popular Italian eatery Totti’s, a yum cha, Sydney Asian fusion restaurant Mumu, JAM Record Bar, and a jazz bar.

Hospo king Justin Hemmes, pictured with Madeline Holtznagel. Picture: Richard Dobson

It is believed the carpark’s sale price was about $55m.

Dexus Currently has to operate the eight-storey car park, basement and retail premises on the site until June 2037.

The sale of the land does not terminate the existing lease, so a mutual agreement between Merivale and Dexus is required to change the use of the site as a car park before 2037.

Merivale has committed to be sensitive to adjoining residential and commercial neighbours during planning and development.

WHAT’S PLANNED FOR THE NEW SUPER PRECINCT?

Eateries

Totti’s

Mumu

Mimi’s Restaurant

Yum cha

Bars

JAM record bar

Jazz bar

Amenities

Hotel

Sky garden

Day spa

Retail spaces

Arts & culture hub

Creative offices/studios

Gallery