Developer Sterling Global has filed its first hotel plans for the Melbourne CBD site, opposite the Southern Cross station, it acquired less than two months ago.
The application for a 42-storey, mixed-used tower for the 1972sq m site at 607-623 Collins Street has now been lodged with the Department of Transport and Planning.
The plans by Carr Architects comprise 175 apartments, eight sub-penthouses and a 229-key hotel, as well as commercial space on levels 13 to 16.
Among the three buildings currently on the amalgamated site is the former State Savings Bank, built in 1923 and currently operating as the Batman’s Hill on Collins Hotel.
Sterling Global reportedly paid $55 million for the three sites, acquired from Rich Lister hotelier Mathieson and the family of the late Luigi Grollo, founder of home builder Grollo Homes. An undisclosed amount was paid for the hotel.
An end value of $420 million has been put forward for project, which will have a tram line, railway station and the Yarra River walking and cycling tracks nearby.
The locale is rich in restaurants, bars and brunch locations.
Heritage consultants Lovell Chen have been working with Carr Architects on the plans, which include restoring the heritage facades of the original bank building and refurbishing the bank chamber.
The bank’s foyer and high ceiling windows would also be restored.
Above the bank would be a contemporary tower while the ground floor would have pedestrian access throughout.
There would also be a rooftop bar and fine dining restaurant included in the project.
Sterling Global director Brandon Yeoh said the acquisition was a first for the developer.
“This is Sterling Global’s first hotel acquisition and our vision is for a community centric hub with a space for local workers, residents and travellers to connect, interact and celebrate, by offering inclusive and engaging spaces for everyone,” Yeoh said.
The company has a development pipeline worth more than $1.6 billion that includes commercial, retail, residential and land assets.
Current projects under way include Como Terraces, a luxury residential project in partnership with CBUS Property; and Huntingdale Estate, a 19ha urban infill site rezoned for residential use.
Further down Spencer Street towards the Yarra River, Melbourne Institute of Technology founder Shesh Ghale has applied to redevelop the Sir Charles Hotham Hotel.
