Time & Place has been given the green light to develop a $200 million skyscraper incorporating the c1900 Lindrum Hotel on Flinders Street, near the corner of Spring.
Construction of the 27 storey building with c10,000 square metres of strata office space, 150 sqm of retail and three storeys of basement car parking, is scheduled to start next quarter.
A marketing campaign for the suites is expected to start before then; 21 will be full floor, up to 600 sqm, while another multi-level building will replace the Romanesque Revival building, built for the Griffiths Tea Company and later occupied by the Herald and Verona Press.
Professional billiards player Walter Lindrum established the Lindrum Billiards Centre at the property, 26-30 Flinders St, in the 1970s.
It repurposed as a hotel by in 1999.
The group responsible for it, Cbus, divested it eight years later for $35m.
That buyer, Robert Magid, sold it to T&P, led by Tim Price, for $50m last March.
Next door to and behind the hotel, The GPT Group recently started constructing two offices at 32 Flinders St and 51 Flinders Ln (story continues below).
Change of plan
The Magid family offered 26-30 Flinders St permit-ready for a 30 level building with 77 hotel suites and 68 apartments.
T&P applied to repurpose it in March – its design incorporating a terrace on half the roof of the existing building, with the skyscraper to be set behind.
The office quality is expected to be Premium or A-grade – with c500 sqm spaces costing close to c$10m.
The redevelopment will see the Accor managed M-Gallery quit the property, fit out as a 59 key venue.
Elsewhere in Melbourne’s eastern end, Golden Age Group is developing a high-end strata office complex at 130 Little Collins St – a suite of which we reported in May was purchased by restaurateur Chris Lucas for his business to occupy.
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