Les Erdi Buys West Melbourne Development Site

CVA director Anthony Carbone confirmed the sale but declined to elaborate on any part of the deal.

The site was offloaded by property developer Joe Salvo.

Mr Erdi, 88, is a Hungarian immigrant who owns and operates several national budget hotel brands, including Ibis, Mercure, Urban and The Swanston Hotel.

He was unavailable for comment, but sources expect Mr Erdi will proceed with developing the site, as per the permit, rather than propose something higher density.

Nearby, a 67-level skyscraper with 471 apartments is planned for a much smaller 1030 square metre site that was once the Stork Hotel.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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