Cbus Property has appointed agent Savills to handle the sale of the hotel portion of their pending 447 Collins Street development.
With the overall value of the urban renewal project tipped to exceed $1.25 billion, Cbus Property will look to capitalise upon the booming Melbourne hotel sector by offering the pre-purchase of a new 294 room 5 star luxury hotel which forms part of the overall development.
The project has maintained a high degree of public interest of late owing to the project's design impetus and the altogether public manner in which its planning process has transpired.
With the hotel component designated a 435 Collins Street address, the successful buyer will inherit the freehold title over the property and can expect Cbus Property to oversee the turn-key delivery of the hotel with a targeted completion date of Q4 2019.
As noted 435 Collins Street will hold 294 hotel suites with three separate configurations on offer: Standard, Junior Suite and King Suite. The smallest suites within the project begin at 37sqm and increase to 86sqm for the largest King suite.
An average of 24 suites are spread over each floor, with 12 levels dedicated to hotel accommodation which will be set above a double height vaulted lobby with multiple entrances.
435 Collins Street's indicative hotel area schedule also sees a raft of facilities attached to the hotel. An all-day restaurant and hotel bar are slated for ground level while Level 1 will include a 529sqm ballroom, function room and meeting room.
More typical amenities such as 223sqm pool deck, sauna, fitness centre and a 202sqm business lounge are also included over lower levels.
In addition to the 5 star hotel, the mixed-use development will also hold approximately 49,000sqm of premium commercial office with typical floorplates of between 1,800sqm and 2,300sqm, and in excess of 200 luxury apartments.
Supporting the expected 5 star NABERS Energy Rated - 5 star Green Star Rated commercial space will be 130 car parking spaces and extensive end of trip facilities which include 500 lockers, 500 bicycle parks and 50 showers.
As has been reported extensively near on 2,000sqm of highly activated public realm will surround the tower footprints. A retail emporium with an approximate NLA of Net lettable area of 800sqm is also designed into the project's lower levels, supplementing the dedicated hotel facilities.
Savills agent Michael Simpson is handling the sales process which will close at 4pm on Friday 17 June 2016.