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Daily Mail
29-04-2025
- Business
- Daily Mail
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.'
News.com.au
28-04-2025
- Business
- News.com.au
‘Will do what it takes': Exclusive club's plan to block Merivale's Melbourne CBD plan
One of Melbourne's most exclusive gentlemen's clubs has moved to block billionaire restaurant baron Justin Hemmes' contentious plans to turn a car park in one of the city's most sought-after pockets into a 'hospitality, entertainment and creative wonderland'. Mr Hemmes, the so-called 'king' of Sydney's hospitality scene, purchased 34-60 Little Collins Street in February for $55 million. Transforming the eight-storey, 1000-space car park – located at the Paris End of the Melbourne grid – into a multi-level precinct with restaurants, cafes, bars, a live-music venue and hotel accommodation, is his Merivale empire's 'boldest and most innovative project' to date. The location, which straddles Little Collins and Bourke Streets, 'is crying out for life and vitality at scale and of an international-level quality', the 52-year-old has said. Mr Hemmes' grand vision has already caused uproar among Melburnians, including the owners of some of the CBD's most iconic establishments. This week, it hit a new roadblock when The Age reported the Melbourne Club will use a long-dormant financial contract to acquire a 50 per cent stake in an existing lease of the Little Collins Street car park, blocking the precinct's construction. Merivale did not respond to a request for comment. The heritage-listed club house – home of Melbourne's business leaders for more than a century – sits metres from Mr Hemmes' proposed redevelopment. Members of the conservative establishment voted on March 31 to spend $5.5 million buying half the lease, owned by Dexus. The ASX-listed professional property investor has control of the site until 2037. Per The Age, Dexus was expected to negotiate a financial settlement with Merivale to terminate its lease, enabling the project to go ahead once council granted planning approval. A source familiar with the vote who was not authorised to speak on behalf of the Melbourne Club told the paper it 'will do what it takes' to stop Mr Hemmes' plan. '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. City of Melbourne Lord Mayor Nicholas Reece has been enthusiastic in his support of the Merivale development, calling Mr Hemmes 'the king of Sydney's hospitality industry'. 'It's a huge vote of confidence that Merivale has chosen to invest in Melbourne,' Mr Reece told in March. '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 in the local economy. 'More than just a typical pub or hotel, Merivale's ambitious vision showcases our love for culture, music, fine dining and fitness – offering an iconic experience for residents, workers and visitors day and night.' In a statement at the time, Mr Hemmes said he had been 'conceptualising and refining' the vision 'for a decade', adding: '(It) offers such an incredible opportunity to do something so special for the people of Melbourne.' David Malaspina owns and runs one of the city's most iconic and popular restaurants, Pellegrini's Espresso Bar, less than 200m from the Merivale project site. He told last month the decision by the City of Melbourne to sell the land was 'shortsighted', 'ridiculous' and 'a joke'. He also said the reported $55m sale price was 'way too cheap' and that council had lost sight of what's important because it wanted to make a big splash in the short term. 'People in council, you've got an asset. You'll never get it back,' Mr Malaspina said. 'There was no consultation, no consideration. Our biggest gripe as traders (in the top end of the city) is parking. 'We are all for bringing people to the city, but you have to understand how the city works. 'We're a driving nation. Where's the consideration for people who need to drive in, how are you going to replace the 1000 car parks you're taking away? 'How are you going to collect rubbish, get deliveries? Parking is already a disaster. My staff and customers all need to park, even hotels nearby used that car park for overflow.'
Herald Sun
28-04-2025
- Business
- Herald Sun
Alice Coster: Shots fired as old boys wage war against Sydney billionaire
Don't miss out on the headlines from Opinion. Followed categories will be added to My News. Can't you just imagine the grog blossoms at the Melbourne Club board meeting pulsating with rage at the mere mention of change? It's long been known the members at the city's most conservative all-male establishment wear the same colours as the Melbourne Football Club (which most of them barrack for). Blue noses and red cheeks! And nothing makes them redder than the idea of change. For nearly 200 years the club has been home to the city's business leaders. But with a not-on-my-patch mentality they have decided to use a long-dormant financial contract to block the construction of a hotel, nightclub and restaurant complex near their heritage-listed club. No doubt the idea of knocking back the move came with added glee, since the multimillion-dollar 'creative wonderland' is the brainchild of flashy Sydney billionaire Justin Hemmes. The club is a symbol of our British heritage, established at a gathering of 23 gentlemen in 1838, just three years after John Batman declared what became Melbourne as 'the place for a village'. Situated at the Paris end of Collins St, it has welcomed high-profile figures such as former PM Malcolm Fraser and governors-general Sir Isaac Isaacs, Baron Casey and Sir Ninian Stephen. Not all members have been distinguished or free thinkers. Some of the more conservative would probably have opposed the clock tower at Flinders St Station or a footy ground near the Yarra. It was a giant leap forward for womankind in 1993 when, lo, females were welcomed to the club … just on special occasions. But it's not only the old fogeys knocking back the Hemmes project next door. It's the young fogeys, who also like things the way they are at the place they can sit under a plane tree in the garden and play at being gentlemen. They joined an overwhelming vote to exercise a long-held lease option to stop Hemmes turning the nearby carpark into a 'hospitality, entertainment and creative wonderland'. The developer's Merivale Group bought the eight-storey carpark from the City of Melbourne for $55m to build a multi-level hotel, bars, restaurants and 'sky garden'. The Melbourne Club may think it has beaten back the upstart Sydney invader. But Hemmes, 52, has time and dollars on his side, and is offering clubs people actually want to get in to. 'Disaster': Hemmes' $55m purchase 'a joke'
Sydney Morning Herald
27-04-2025
- Business
- Sydney Morning Herald
Melbourne Club moves to block Sydney billionaire's ‘creative wonderland' plan
Melbourne's oldest gentlemen's club has moved to block a plan by Sydney billionaire Justin Hemmes to transform a CBD car park into a 'hospitality, entertainment and creative wonderland' at the city's famed Paris End. In February, Hemmes' Merivale Group bought the eight-storey car park from the City of Melbourne for $55 million and unveiled contentious plans to build a multi-level precinct with a boutique hotel, restaurants, bars, galleries and a sky garden. But the hospitality mogul now faces fierce opposition from the Melbourne Club, which plans to use a long-held option – a legally enforceable right – to acquire a 50 per cent stake in an existing lease of the Little Collins Street car park that has another 12 years to run. A source at the exclusive gentlemen's club, which has observed a long-held convention of not discussing its affairs with the media, said it was unlikely to negotiate with Merivale to end the lease. The club, which has occupied its premises at 36 Collins Street since 1859, counts some of Melbourne's most powerful corporate figures, lawyers, doctors and former politicians among its membership of about 1500. Many of these members and their guests use the car park at 34-60 Little Collins Street. The rear of the Melbourne Club, including a private garden listed with the Victorian Heritage Register, sits metres from Hemmes' proposed redevelopment. The billionaire's proposal has incensed many of the club's members. The car park is leased by major property fund Dexus, which has control of the site until 2037. Dexus was expected to negotiate a financial settlement with Merivale to terminate its lease, which would have enabled the project to proceed once planning approval was granted by the city council. At a private meeting on March 31, Melbourne Club members voted overwhelmingly to exercise the option, which will cost the club about $5.5 million.
The Age
27-04-2025
- Business
- The Age
Melbourne Club moves to block Sydney billionaire's ‘creative wonderland' plan
Melbourne's oldest gentlemen's club has moved to block a plan by Sydney billionaire Justin Hemmes to transform a CBD car park into a 'hospitality, entertainment and creative wonderland' at the city's famed Paris End. In February, Hemmes' Merivale Group bought the eight-storey car park from the City of Melbourne for $55 million and unveiled contentious plans to build a multi-level precinct with a boutique hotel, restaurants, bars, galleries and a sky garden. But the hospitality mogul now faces fierce opposition from the Melbourne Club, which plans to use a long-held option – a legally enforceable right – to acquire a 50 per cent stake in an existing lease of the Little Collins Street car park that has another 12 years to run. A source at the exclusive gentlemen's club, which has observed a long-held convention of not discussing its affairs with the media, said it was unlikely to negotiate with Merivale to end the lease. The club, which has occupied its premises at 36 Collins Street since 1859, counts some of Melbourne's most powerful corporate figures, lawyers, doctors and former politicians among its membership of about 1500. Many of these members and their guests use the car park at 34-60 Little Collins Street. The rear of the Melbourne Club, including a private garden listed with the Victorian Heritage Register, sits metres from Hemmes' proposed redevelopment. The billionaire's proposal has incensed many of the club's members. The car park is leased by major property fund Dexus, which has control of the site until 2037. Dexus was expected to negotiate a financial settlement with Merivale to terminate its lease, which would have enabled the project to proceed once planning approval was granted by the city council. At a private meeting on March 31, Melbourne Club members voted overwhelmingly to exercise the option, which will cost the club about $5.5 million.
