The development arm of the privately-held steel construction and equipment hire group Alfasi have unveiled plans to develop a nine-storey international hotel in South Yarra.
The Alfasi Property Development group secured the 2,116sq m "super site" at 2-10 River Street in South Yarra last month. The site sits metres from Toorak road near the bustling corner of Chapel Street -- offering 50 metres of frontage to River Street.
Alfasi have appointed Carr architects to design the project, a 150-plus room hotel. Alfasi development director, Laurence Peck said that the opportunity to develop a hotel in this location made "perfect commercial sense".
As the world’s most liveable city, Melbourne needs a sophisticated hotel offering that will firmly place it in the milieu of other global cities. [We] believe that we will be offering something truly unique to the Australian Hospitality Market.”
Peck was appointed to run the Alfasi development group in 2016 following Alfasi's decision to relaunch the development arm by acquiring a 3000sq m site in Church Street, Richmond. Peck's reported mandate was to buy and develop up to five office and hotel assets over three years.
In a statement, Alfasi said that they were overwhelmed with the response for the global search for a hotel operator. The group are reportedly dealing with several of the "world's leading hotel brands" and will be confirming their choice in the coming weeks.
The South Yarra hotel will consist of 150 suites, rooftop terrace and pool, with ground-floor restaurants and bars.
Alfasi's acquisition of the River Street site follows the group's announcement of their 11-storey Church Street office development in Melbourne's latest "tech hub" in Cremorne.