Buyer for hotel-ready CBD site in Macquarie St that formerly housed Myer homewares
A HOTEL-READY CBD site that once served as a temporary home for Myer has been sold for an undisclosed price.
Tasmania
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A CBD site with development approval for a $30 million, nine-storey hotel has been sold for an undisclosed price.
The former Myer homewares store at 179 Macquarie St was sold by Knight Frank.
Knight Frank chief executive officer Scott Newton said four parties pitched for it, but the vendor did not want to divulge the price or the buyer.
Plans for the development at the site were resurrected after the new Hobart Interim Planning Scheme came into force, changing height restrictions.
The latest application is for a nine-storey, 202-room hotel, ground floor cafe/restaurant, conference facilities and below-ground car park.
It was approved by the City Planning Committee on March 13.
The decision was appealed but was resolved by consent agreement, with a condition added about external cladding.
The final decision and new permit as directed by the Resource Management and Planning Appeal Tribunal is dated June 1, 2018.
MORE: HOTEL PROPOSAL GOES BACK TO HCC
MORE: MACQUARIE ST NEW TOURIST MECCA AS DEVELOPERS POUNCE
In 2015 a development application by Ressen Property Group — based in Sydney — to build a 225-room hotel on the site was approved by the Hobart City Council but was later overturned by the tribunal after an appeal from nearby businesses.
The approval was appealed on height and plot ratio grounds by Sunset Rock Investments Pty Ltd and JK Tasmania-Hobart Pty Ltd, which own the neighbouring former Hutchins school building.
JK Tasmania-Hobart also shares directors with Fragrance Tas-Hobart Pty Ltd, developer of the Ibis Styles Hobart directly next door.
The Ressen Property Group has previously completed land subdivision projects in New Town, Kingston, Montrose and Sorell.
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