Gurner shelves St Kilda hotel
Gurner is selling the St Kilda site purchased two years ago for its maiden Club Maison hotel.
The ex-Cushion Lounge at 99-105 Fitzroy Street should fetch more than $4 million.
The developer paid $2.25m.
Early last year, it unveiled plans to replace the 488 square metre block with a six storey hotel containing 25 suites, two rooftop pools and two ground floor shops.
Now approved, the property is being marketed as a residential development play
With a two level, 356 sqm vacant building, it is also being targeted to investors and occupiers.
JLL’s Nick Peden, Jesse Radisich, Josh Rutman and MingXuan Li are the agents.
Change of plan
When Gurner announced the St Kilda hotel, it said the completed asset would be retained as an investment.
It added another dozen sites would be secured for the Club Maison brand between then and now (story continues below).
One of them is mooted for a historic Prahran ex-church owned by a different party at the north west corner of High and Macquarie streets.
Like St Kilda, that proposal was unveiled at the same time an application was lodged, last July.
A Club Maison is also speculated to form part of a $1.5 billion Jam Factory redevelopment, in South Yarra.
“Club Maison is a key focus for us however with wage costs where they are, we will be focused on locations with 50 rooms and above,” Gurner managing director, Tim Gurner, said.
“After much consideration, we have decided to redeploy our team…as this smaller end of the scale [99-105 Fitzroy St] has become difficult for us to resource in the shorter term,” he added.
In recent months Gurner has diversified into new regions – at Geelong, Parramatta and Perth.
Elsewhere in Melbourne, before the pandemic, it teamed with property owners with major proposals at Fitzroy North, Richmond and South Melbourne.
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