RSL snaps up $30m hotel
Waverley RSL Sub-Branch has acquired the ibis Melbourne Glen Waverley for more than $30 million, securing a long-term base in Melbourne’s east after losing its former headquarters to compulsory acquisition then fire damage.
The seven level, 155-room property, 295–297 Springvale Road, was sold by Kuwait-based Action Hotels Group, which developed the asset in 2007 as an investment.
The deal comes less than two weeks after a fire significantly damaged the sub-branch’s Coleman Parade premises, which had already been earmarked for closure following its acquisition last May by the Victorian government for the Suburban Rail Loop.
Hotel operator Accor will continue to manage the asset under the ibis brand, with the RSL planning a staged integration of its own operations over the next one to two years.
Savills’ Nick Lower, Max Cooper, Benson Zhou and Niall Kumar were the agents.
The asset was listed mid last year with the 347-room Novotel Melbourne South Wharf and 73-room Ibis Budget Melbourne Airport.
Accommodation to be primary income stream
The Glen Waverley site spreads 3920 square metres opposite Vicinity’s The Glen.
Waverley RSL sub-branch president Neil Slaughter said the purchase would provide income security and support the rebuild of member and veteran services (continues below).
“This is a momentous day…we now have a long-term home that can generate funds to support veterans and families,” he said.
The asset will become the state’s first sub-branch-led operation where accommodation is the primary income stream.
Subject to approvals, part of the ground floor will be repurposed for member services, dining and veteran support, while existing hotel uses – including accommodation, a bar and conference facilities – will be retained.
Memorabilia salvaged from the fire-damaged clubhouse is also expected to be incorporated into the new venue.
The sub-branch, which had been due to vacate its Coleman Parade site by early 2028, is now seeking an interim base ahead of transitioning into the hotel, with full operations not expected until around 2027.
An RSL Victoria spokesperson said the acquisition reflected a broader push toward revenue diversification across the network, particularly where traditional club assets have been disrupted by infrastructure projects.
Subscribe to our newsletter at the bottom of this page.
