A Melbourne CBD hotel, rich in history comes to market

MELBOURNE, 25 January 2022 – One of Melbourne’s most renowned assets, Hotel Lindrum, has hit the market in what will become one of the city’s first major development and hotel opportunities for 2022.

JLL’s Melbourne Capital Markets and Hotels & Hospitality Group’s respective head’s Josh Rutman and Peter Harper, along with colleagues MingXuan Li and Nick MacFie, have been appointed as exclusive agents to sell Hotel Lindrum via Expressions-Of-Interest campaign.

Situated at 26-30 Flinders Street in the eastern core of the Melbourne CBD, the 59-room boutique hotel includes two food and beverage outlets as well as a meeting room and feature full size billiard table which pays homage to Walter Lindrum OBE, its namesake and one of Australia’s greatest sporting champions. Situated over six floors including ground and basement, the property is currently operated under a hotel management agreement with Accor’s M-Gallery by Sofitel brand.

Most notably, the property has a planning permit for a 30-level mixed use development with the current scheme comprising 77 hotel rooms and 68 residential apartments (STCA) in a striking tower rising above the exisitng façade with view protected views across the Yarra River, Botanic Gardens, Melbourne and Olympic Parks and Port Phillip Bay.

JLL’s Executive Director of Capital Markets, Josh Rutman said, “With such an unrepeatable mixed use planning approval, the sale of Hotel Lindrum provides one of the most exciting development opportunities in the Melbourne CBD that we’ve seen for some time. Being situated within the most prestigious precinct of the Melbourne CBD amongst the city’s most elite commercial and residential towers, and with easy walking access to the best of Melbourne’s hospitality, entertainment and transport offeirngs, developers will take great comfort in the obvious demand by end users of the future development.”

JLL’s Managing Director & Head of Investment Sales Australasia, Hotels & Hospitality Group, Peter Harper said, “Hotel Lindrum is one of the most renowned hotels in Melbourne owing to its position amongst the highest yielding demand generators. It boasts a strong trading history yet there is clear scope for significant upside through refurbishment and repositioning. The property has been long sought by hotel investors and operators, and this sale presents their first legitimate opportunity since the asset was acquired by the current owner well over a decade ago. As such, we are expecting wide ranging interest in the offering from both investors and developers.”

Hotel Lindurm opened its doors as a Melbourne hotel in 1999, designed by Terry Fripp and Neil Bradford in early 1998 and incorporates aspects of it herrtige in present day operations. The hotel was amongst one of the first boutique hotels to enter the market.

Expressions-Of-Interest for Hotel Lindrum at 26-30 Flinders Street, Melbourne close on Thursday 10^th of March 2022.