SOUTHBANK: Melbourne’s inner city, already set to benefit from the $1.7 billion Melbourne Arts Precinct Transformation Project in 2028, will receive another boost to tourism with the announcement that diversified property developer Time & Place along with joint venture partners, MaxCap Group, and Australia’s TFE Hotels, will open a $150m boutique hotel in Southbank in September 2025.

The deal has seen the joint venture partnership and construction and property specialist Hickory, create a unique hotel brand the ‘Hannah St. Hotel.  The hotel not only aligns with its neighbourhood concept for The Queensbridge Building but delivers an experience that is authentic to Melbourne.

The 188-room boutique hotel, which will be operated by TFE Hotels and will sit under the Collection by TFE Hotels brand, joining the likes of The Calile in Brisbane; a 102-room boutique Collection property currently under construction in Sydney’s Surry Hills; and the $340-million dual hotel project slated for Melbourne’s Docklands in 2026.

Hannah St. Hotel – which sits at the nexus joining Melbourne CBD, the Yarra River, South Melbourne, and the Arts Precinct – will feature a neighbourhood bar, restaurant, and rooftop bar/events space across 10 levels. All of this is set to complement The Queensbridge Building which will deliver 367 residential apartments and will feature a series of resident exclusive lush gardens, private rooftop terraces, lap pool, wellness studio, gym, sauna, steam rooms, co-working spaces, providore in the foyer and private dining room to Southbank when it’s completed.

Construction is already underway on the project with completion on track for Q3 2025.

According to Time & Place Director, Tim Price, The Queensbridge Building – references a bygone era of brass, steel, and stone, emulating the postcode’s industrial era.  And, in a strong show of strength for Victoria’s creative set, the development’s striking facade was designed in collaboration with Elenberg Fraser, with interiors by the renowned Flack Studios.

“As developers, we want to facilitate the development of legacy projects that invite art, design and culture to influence one another,” Tim said.  We envisage the hotel will become ingrained in the cultural fabric of the suburb and form a part of the transformation, coming to life as a ‘neighbourhood hotel’ for locals and visitors alike.”

“As we set out to bring this landmark hotel to The Queensbridge Building, we are looking to bring international influences to Southbank through design and experiences.  We anticipate that our hotel will be regarded as the place to stay for anyone in the arts visiting the city.”

“Operating under the Collection by TFE Hotels’ brand was a natural choice for the project, not only are our brand values aligned but TFE Hotels is the perfect operator to bring to a suburb rich in arts and culture as it transitions to a premier lifestyle destination.”

When it comes to their Collection brand, TFE Hotels Chief Executive Officer, Antony Ritch, says TFE is 100% focused on partnerships with legacy makers, like Time & Place, who make a wholehearted commitment to the neighbourhood.

“Collection by TFE Hotels really are one-of-a-kind experiences and they take inspiration from local culture and from their surroundings,” he said. “These have a unique model of close owner collaboration, and we are incredibly fortunate to have partnered with Time & Place and MaxCap on a building that will not only become a place maker for Melbourne’s newest lifestyle destination but provide such incredible amenities for the community.”

“What I love about this project is that Hannah St. Hotel will deliver an experience in a neighbourhood that is transforming, thanks to an investment in Australia’s largest cultural infrastructure project, into a truly world-class art precinct,” Ritch said. “Southbank is connected to the best of Melbourne. It has a lot of energy and a real focus on arts, sports, and the outdoors (with 18,000 square metre of additional public gardens set to be delivered) which beautifully complements those iconic Melbourne experiences – shopping, laneways, food, and culture – that we all love so much.”

“And, importantly for us, Hannah St. Hotel is being delivered by Melbourne developers with a long-term commitment to the area.”

Tim Price agrees. “This is a neighbourhood hotel. A building with roots in the community and a place where you’re welcomed in to enjoy the hospitality whether you’re staying short term or you’re a permanent resident. We aren’t developing and leaving, we’ll be in this building long after its doors have opened,” he said.

An onsite ‘Experience Director’ will engage with building residents to create one-off experiences whilst a lap pool for training, large scale gym and a work club complete with sound-proof pod casting rooms which are all easily accessed by hotel guests. Time & Place and Hickory realised the potential of the Kings Way Overpass urban parklands early on and partnered with Australian Indigenous Artist, Reko Rennie prior to commencing construction on site to activate their own ‘Underpark’ with a temporary basketball court.

A large Northern European institutional investor has committed a $200 million investment to MaxCap Group, Australia’s leading commercial real estate investment manager. This is the investor’s first venture into real estate debt in Australia and represents a new partnership with MaxCap, the investor having identified Australia as a key market in the Asia Pacific region.

The initial investment will be placed via the First Mortgage investment option of the MaxCap Investment Trust, MaxCap’s flagship highly diversified and evergreen CRE debt vehicle.

The representative of the institutional investor said: “The Asia Pacific region, and in particular, Australia, offers compelling risk-adjusted return opportunities. MaxCap is an experienced manager with a proven track record of performance. We are delighted to partner with them to gain access to this asset class.”

MaxCap’s evergreen platform, the MaxCap Investment Trust (MIT), offers ongoing access to Australasian commercial real estate debt opportunities. Investors have the choice of two product options, First Mortgage or High Yield, depending on their preferred risk appetite and investment return targets. The First Mortgage and High Yield mortgage products target net returns of 5.00% and 8.00% above the Reserve Bank of Australia cash rate¹ respectively.

Mr. Robert Hattersley, MaxCap Group Head of Capital, said of the partnership: “This is a leading institutional investor with extensive experience in the global market. We are proud to commence our relationship with them and confident of building a long-term relationship together. Their investment aligns with increasing institutional capital inflows into the CRE debt sector in Australia. Our sector presently benefits from strong structural tailwinds, heavy regulatory pressures on the bank sector, and negative correlations to real assets and equities.”

MaxCap Group, Australia’s leading commercial real estate investment manager, and joint venture partner, Troon Group, have confirmed the acquisition of a significant industrial land holding in inner Melbourne.

Located at 618 Clayton Road, Clayton South, the vacant site is being purchased with the intent of delivering approx. 60,000sqm of prime industrial warehousing. The site is a regular shaped 10Ha land parcel less than 20km from the Melbourne CBD with an Industrial 1 Zoning.

“We remain bullish about investing in zoned industrial land parcels in prime infill locations across Australia’s east coast which we have been doing for five years now,” said Simon Hulett, Head of Direct Investment at MaxCap. “This is our first acquisition in Melbourne’s well established south-east logistics precinct, the most tightly held market in Victoria, primarily due to how rare sites like this are and how hard they can be to secure.”

“We continue to see effective rental growth in established industrial precincts such as Clayton, primarily driven by a vacancy rate of less than 1% and a lack of new development stock. Whilst demand has slowed from the highs of the pandemic, e-commerce penetration rates continue to grow, and the last mile delivery service remains highly competitive. With an established residential population directly opposite the site and proximity to major arterial roads, demand for this location is likely to be strong,” said Mr. Hulett.

“Our fourth joint venture with Troon Group follows the successful recent divestment of Chirnside Lifestyle Centre a couple of weeks ago. This strong track record provides our investors with confidence around our ability to execute against the project strategy for Clayton as we move forward through planning and delivery,” Mr. Hulett added.

Tom McInerney, Managing Director of Troon Group said, “There is always some complexity in acquiring these types of sites. 618 Clayton Road was a landfill site over 30 years ago and we have undertaken significant due diligence and stakeholder engagement to gain confidence in navigating this complexity with the relevant authorities to deliver much-needed supply of high-quality product to service the overwhelming demand for last mile logistics facilities.”

“The opportunity to be able to deliver a Super Prime industrial business park in this location was unmissable. 10Ha parcels of land in established metropolitan locations such as 618 Clayton Road do not come around very often. The ability for the Troon/Maxcap teams to work closely with our construction partner H.Troon and our highly regarded consultant teams will allow us to fast-track planning and delivery of much needed stock to the market.”

The sale to MaxCap and Troon Group was managed by David Aiello, Senior Director CBRE Industrial & Logistics.

Diversified property developer Time & Place and joint venture partner MaxCap Group, one of Australia’s leading real estate investors, has received an approved permit for the proposed plans at its 2,678sqm site at 75 – 119 Cubitt Street, Cremorne.

The proposal will see the site, a Wilson’s carpark, developed into a premium office building, offering around 13,500 sqm of office space over 9 stories. The joint venture partners intend to leverage Cremorne’s burgeoning reputation as a global innovation and technology hub to appeal to creative and tech businesses.

Alongside the office space will be a ground floor plane which will encompass an extensive communal garden and outdoor space, set to house a diverse food and beverage offering, wellness facilities and small scale office spaces. There will also be approximately 900sqm of balcony and terrace spaces, a 500sqm rooftop garden, and enhanced end-of-trip facilities which will encompass a clubhouse style offering. Parking demands will be alleviated via a two-level basement car park.
Acknowledging the importance of wellbeing and sustainability amongst modern businesses, the building’s design optimises water and energy capture, and each façade will be designed based on its orientation, allowing for optimal thermal comfort and energy efficiency in line with 6-star Green Star rating and 5.5 Star NABERS targets.

Multidisciplinary design firm fjcstudio were engaged to work on the building’s design, its team bringing with them a strong reputation for producing considered and innovative public spaces, including the award-winning Bunjil Place and Victoria Place, Time & Place’s East Melbourne office project.
The building’s design reflects an evolution of the workplace experience, where emphasis is placed on the connection between office and neighbourhood, landlord and community. Proximity to Church and Swan streets connects the site to vibrant retail, hospitality and lifestyle offerings.

The site will be the third office project for developer Time & Place, following the aforementioned Victoria Place and Alexandria’s Bourke & Bowden in NSW, with the three projects expected to be valued at approx. $800m upon completion.

The addition of Cremorne presents an exciting opportunity for the joint venture partners, with the Victorian Planning Authority and Yarra City Council instating the Cremorne Place Implementation Plan, which provides a roadmap for the appropriate and ongoing development of the suburb. This Plan aims to establish the area as an enterprise precinct, innovation anchor and vibrant hub for entrepreneurs and start-ups. The Victorian Government will also support the creation of a flagship digital hub, which will deliver programs to support business growth, technology adoption and connect the state’s leading tech firms to businesses.

Of the permit approval, Time & Place development director Nick Paciocco says:
“ With the permit now approved, we’re excited to commence works and bring the plans to life. With a rising reputation as a tech hub, Cremorne has seen rapid growth in recent years, and our Cubitt Street project will offer premium office space for a modern way of working.
“ We worked closely with fjcstudio on a design that fits the modern worker – flexible floorplates, environmentally sound and with amenities that complement the hybrid working model many have adopted post COVID.
“ This is a significant milestone for our Cremorne project, and we are looking forward to delivering a space that we can all take pride in. We see Cremorne, alongside projects like The Queensbridge Building and Alexandria’s Bourke & Bowden, as an opportunity for us to invest into neighbourhood buildings – spaces that contribute to the fabric of a neighbourhood.
“ Our aim is to create a machine for working – a building that provides tenants with a highly efficient, sustainable and optimised working environment. The way people live and work is changing, and it’s our job to make sure we reflect this transition in our work.”

Simon Hulett, Head of Direct Investment at MaxCap Group, said MaxCap is excited to include the Cubitt Street project as part of its Diversified Opportunity Fund.
“This is a significant milestone for this project and continues the recent success for MaxCap of de-risking our portfolio of investments across our Diversified Opportunity Fund.
“We look forward to continuing our successful track record of projects with Time & Place. We are strong believers in the ‘flight to quality’ thematic across all real estate markets, particularly office, and identified the unique opportunity in Cremorne to attract larger occupiers through the delivery of high quality large-scale floor plates of c. 2,000sqm.
“MaxCap is proud to be part of future-led projects such as Cubitt Street and looks forward to delivering this premium workplace in partnership with Time & Place.”