Justin Hemmes' expansion into Melbourne hits a snag after $55million splurge on a car park
Sydney billionaire Justin Hemmes could see his ambitious plans to set up a 'creative wonderland' in Melbourne 's CBD shot down as a private club tries to block it.
Merivale Group bought the eight-storey car park on 34/60 Little Collins Street and unveiled plans in February to build a range of attractions at the 'Parkade'.
Design documents said the 'creative, social precinct' would revitalise Melbourne with a gallery, 'incubator hub' for artists, boutique hotel and live music
But one historic institution appears to have taken a stand against the 'creative wonderland'.
The Melbourne Club, founded in 1838, does not discuss affairs with the media, but an insider has told The Age the plan dismayed members due to the potential loss of parking.
A second source from the private gentleman's club also said members 'will do what it takes' to stop Mr Hemmes' plan.
As a result, the club has reportedly acquired a 50 per cent stake in the Parkade's current lease - giving it a legal right to have a say in the site's future.
It is a $5.5million move with overwhelming approval from members of the club who voted on it at a closed-door meeting on March 31.
Property company Dexus holds the existing lease with the City of Melbourne council to operate the eight-storey car park on the site until June 2037.
But the sale of the Parkade was approved by the City of Melbourne council in February, with settlement agreed for June of this year.
This did not terminate the current lease so Merivale and Dexus have been left to reach a mutual agreement to change the use of the site.
But The Melbourne Club, now with a legal stake in the current agreement, is not expected to negotiate with Hemmes' Merivale to end the lease.
The Club has been based at 36 Collins Street in Melbourne since 1859, with a rear garden backing onto Little Collins Street.
Trees, foliage and a wall ensure the garden remains private, though a view from Google Maps shows that the back of the property is opposite the car park.
A second source said members felt they had not been adequately consulted by Merivale on the project.
'They're more than willing to stand up to him. They've definitely got the funds, and they also have access to some of the city's best lawyers if it comes to that,' they said.
The Melbourne Club declined to comment when contacted by Daily Mail Australia.
Hemmes said in February that his plan for the Parkade will offer an opportunity for 'revitalisation and repurposing of this under-invested yet wonderful site'.
'This is our boldest and most innovative project that we have embarked upon to date; a vision that I've been conceptualising and refining for a decade,' he said.
In the published plans, Merivale Group said the site is not a nightclub but a 'creative, social precinct', including for families, creatives and tourists.
Lord Mayor Nick Reece hailed Hemmes as 'king of Sydney's hospitality industry' and his hopes for 'cementing Melbourne's future as a hospitality tour de force'.
'It's a huge vote of confidence that Merivale has chosen to invest in Melbourne,' he said.
'This entertainment precinct will be right on the doorstep of Melbourne's world-class theatre district – and create hundreds of jobs and generate millions of dollars for the local economy.'
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Justin Hemmes' expansion into Melbourne hits a snag after $55million splurge on a car park
Sydney billionaire Justin Hemmes could see his ambitious plans to set up a 'creative wonderland' in Melbourne 's CBD shot down as a private club tries to block it. Merivale Group bought the eight-storey car park on 34/60 Little Collins Street and unveiled plans in February to build a range of attractions at the 'Parkade'. Design documents said the 'creative, social precinct' would revitalise Melbourne with a gallery, 'incubator hub' for artists, boutique hotel and live music But one historic institution appears to have taken a stand against the 'creative wonderland'. The Melbourne Club, founded in 1838, does not discuss affairs with the media, but an insider has told The Age the plan dismayed members due to the potential loss of parking. A second source from the private gentleman's club also said members 'will do what it takes' to stop Mr Hemmes' plan. As a result, the club has reportedly acquired a 50 per cent stake in the Parkade's current lease - giving it a legal right to have a say in the site's future. It is a $5.5million move with overwhelming approval from members of the club who voted on it at a closed-door meeting on March 31. Property company Dexus holds the existing lease with the City of Melbourne council to operate the eight-storey car park on the site until June 2037. But the sale of the Parkade was approved by the City of Melbourne council in February, with settlement agreed for June of this year. This did not terminate the current lease so Merivale and Dexus have been left to reach a mutual agreement to change the use of the site. But The Melbourne Club, now with a legal stake in the current agreement, is not expected to negotiate with Hemmes' Merivale to end the lease. The Club has been based at 36 Collins Street in Melbourne since 1859, with a rear garden backing onto Little Collins Street. Trees, foliage and a wall ensure the garden remains private, though a view from Google Maps shows that the back of the property is opposite the car park. A second source said members felt they had not been adequately consulted by Merivale on the project. 'They're more than willing to stand up to him. They've definitely got the funds, and they also have access to some of the city's best lawyers if it comes to that,' they said. The Melbourne Club declined to comment when contacted by Daily Mail Australia. Hemmes said in February that his plan for the Parkade will offer an opportunity for 'revitalisation and repurposing of this under-invested yet wonderful site'. 'This is our boldest and most innovative project that we have embarked upon to date; a vision that I've been conceptualising and refining for a decade,' he said. In the published plans, Merivale Group said the site is not a nightclub but a 'creative, social precinct', including for families, creatives and tourists. Lord Mayor Nick Reece hailed Hemmes as 'king of Sydney's hospitality industry' and his hopes for 'cementing Melbourne's future as a hospitality tour de force'. 'It's a huge vote of confidence that Merivale has chosen to invest in Melbourne,' he said. 'This entertainment precinct will be right on the doorstep of Melbourne's world-class theatre district – and create hundreds of jobs and generate millions of dollars for the local economy.'
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