By Cara Waters
Hospitality billionaire Justin Hemmes’ Merivale Group has bought a City of Melbourne car park to build a precinct with restaurants, cafes, bars, a hotel, retail and a “sky garden”.
The plans include a Melbourne version of Mimi’s restaurant in Coogee on its top floor – where patrons dine on caviar bumps – and another branch of Hemmes’ Italian restaurant Totti’s, which is in Bondi, Rozelle and Lorne.
An artist’s impression of Hemmes’ plans for 34-60 Little Collins street. Credit: Merivale
The sale price for the eight-storey Parkade car park at 34-60 Little Collins Street has not been disclosed, but industry sources have previously estimated its value at more than $110 million.
Hemmes said he planned to create a jigsaw of venues that would work together to provide a hub of attractions.
“I have been incredibly passionate about creating an iconic, creative, hospitality multi-use precinct like this for many years; a social connection hub for all walks of life,” he said.
“Parkade is the dream site for our vision and offers the perfect opportunity for a sustainable and creatively adaptive reuse of a wonderful 1960s local landmark.
“It’s a development that I couldn’t be more passionate about, and we can’t wait to bring this vision to life in Melbourne.”
Hemmes said the development would include restaurants, cafes and bars, live music and entertainment, retail and a boutique hotel. It would also host an incubator hub for up-and-coming artists and youth culture, creative studios and offices, galleries and exhibition spaces, and a “public sky garden” with greening.
The sale of the car park, which previously housed the Soi 38 restaurant, was opposed by many nearby CBD business owners. It is one of the few operating at the top end of the CBD and is used by customers of nearby restaurants, hotels and theatres.
A spokesman for Merivale said the hospitality giant would be sensitive to adjoining residential and commercial neighbours such as the Melbourne Club, which has heritage trees. It would also carefully consider the amenity of the local neighbourhood, privacy and noise, and would engage with the council, planners and the community, he said.
Justin Hemmes is “the king of Sydney’s hospitality industry”.Credit: Rhett Wyman
Lord Mayor Nick Reece said the deal was the right move to propel Melbourne’s hospitality scene.
“Justin Hemmes is the king of Sydney’s hospitality industry – and it’s a huge vote of confidence that Merivale has chosen to invest in Melbourne,” he said.
“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.
“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.”
An artist’s impression of the planned Merivale development at Little Collins Street. Credit: Merivale
A spokeswoman for the City of Melbourne said the settlement date for the car park was set for June 2025.
“Funds from the sale will be reinvested into council’s capital works program to deliver important community infrastructure for Melbourne,” she said.
Hemmes, who agreed to pay $19.25 million to former staff last year following allegations they were underpaid, has already bought the adjacent building, which houses Argentinian steak restaurant San Telmo and pizzeria Pizza Pizza Pizza.
The car park at 34-60 Little Collins Street.Credit: Joe Armao
He also owns Tomasetti House in Flinders Lane, which he has been redeveloping since buying it in 2021.
Property giant Dexus has a lease on the car park with the council with 13 years to run, for which it pays $468,222.
The sale of the land does not terminate the existing lease, meaning that an agreement between Merivale and Dexus is required to change the use of the site before 2037.
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