An eight-storey carpark in Melbourne's CBD is set to be transformed into a major entertainment hub featuring restaurants, cafes, bars, a hotel, retail spaces and a "sky garden".The City of Melbourne confirmed today that it sold the carpark to Sydney hospitality billionaire Justin Hemmes' Merivale Group.The project located at 34-60 Little Collins Street has been described as an "iconic landmark destination precinct full of life and vitality".
An artist's impression of Hemmes' plans for 34/60 Little Collins street. Merivale (Merivale)
An artist's impression of Hemmes' plans for 34/60 Little Collins street. Merivale (Nine)Merivale chief executive Justin Hemmes revealed he had been working on the concept for the past decade."I am ecstatic about the potential for this site and the future that it holds," Hemmes said."This has been a passion project that I have been working on for almost a decade, we want to create the most exciting and iconic destination for not only Melbourne but in Australia."We want this to be a social and cultural hub that welcomes everyone. We want to bring life, safety and enthusiasm to the precinct."Merivale staples such as Mimi's and Italian restaurant Totti's will be among the options in the new development.There will be live music and entertainment, a boutique hotel, galleries and a "public sky garden".
There will be live music and entertainment, a boutique hotel, galleries and a "public sky garden". (Merivale)Lord Mayor Nick Reece said the deal was the right move for city."I am very excited about this development," he told reporters today."It's going to be transformed into a hospitality, entertainment and creative wonderland for the people of Melbourne."It's going to be truly world-class... This decision is going to generate thousands of jobs and millions in economic activity."The sale price for the eight-storey car park has not been disclosed.Dexus, a property company, holds a lease 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, meaning that an agreement between Merivale and Dexus would be required to change the use of the site before 2037.