Rich lister developer Paul Little has struck a deal with Hyatt Hotels for his $150 million hotel project at the western end of the Melbourne CBD.
The 280-room recently approved hotel will operate under the Hyatt Centric brand, the first in Melbourne and only the second in Australia.
Little Projects expects the Architectus-designed hotel to open in 2020. It will include a restaurant and rooftop bar with views across Port Phillip Bay.
Mr Little is pushing ahead with developments outside the high-rise apartment sector, working on a pipeline of more than $500m.
He last year expressed caution about new multi-unit developments and is now focusing on the CBD hotel as well as resort-style apartments on the Gold Coast, a private jet terminal and student accommodation.
“We are extremely excited to be working with Hyatt Hotels on this project,” Mr Little said. “To collaborate with one of the finest hotel brands in the world is an exciting step into the next phase of Little Projects.”
The hotel at 9-27 Downie Street, off Flinders Lane in the southwestern corner of the CBD, will be near Southern Cross train station, the Docklands precinct and Crown casino.
The group bought the development site for $28.6m last year from nightclub owner Peter Iwaniuk, public records show.
Mr Little expects to see a renaissance in this corner of the city, with major developments nearby including Lendlease’s mixed-use Melbourne Quarter, Cbus Property’s Collins Arch and entrepreneur Shesh Ghale’s planned restoration of the former Sir Charles Hotham Hotel.
“The location is ideal. Guests will be able to easily explore everything Melbourne has to offer, from shopping and dining, to the casino and Southbank precinct,” Mr Little said. “We are confident the southern end of the CBD will see significant regeneration in the coming years.’’
Architectus Melbourne managing principal Matthew Smith said the design drew on historic masonry buildings in the area.