Time & Place receives approval to redevelop historic Melbourne landmark, Hotel Lindrum23 November 2023
Diversified property developer Time & Place has this week received planning approval from Council for the redevelopment of Melbourne’s famed Hotel Lindrum.
Time & Place acquired the site at 26-30 Flinders Street in March 2022, with an existing permit in place for a 30-storey hotel and residential project.
Time & Place’s revised plans for the historic Flinders Street site propose a pivot to commercial with up to 10,000sqm of premium office space, club house-style amenity, a rear entry point that provides direct access to the culinary and high-end retail precinct of Flinders Lane, and a contemporary ground floor events space behind the iconic heritage facade.
In a departure from the typical commercial leasing structure, Time & Place intends to offer the building for sale as premium Strata office, with each floor encompassing a separate strata title, spanning 300-600sqm approx. depending on layout.
Renowned architecture firm, FJC Studio, has penned the new design which celebrates the now iconic facade while respectfully delivering a heritage-grade, future-proofed building that references the site’s historical significance, while breathing new life into the address.
The exterior design will pay homage to the heritage significance of the current façade, whilst simultaneously introducing a contemporary and a distinctive element that floats gracefully above.
The building is one of the CBD’s most recognised facades, originally designed by Ward & Carleton in the early 1900s for Griffiths Brothers Tea Merchants. In the 1920s, it was transformed into the headquarters for the Herald empire and later became Lindrum’s Billiards Centre, before being converted to a boutique hotel in 1999.
Time & Place is currently in the process of tendering the construction contract for the development, with works estimated to commence in Q1, 2024.
Tim Price, Founder and Director of Time & Place, said:
“ Time & Place recognises the significance of Hotel Lindrum as an iconic Melbourne landmark, one that has shaped the city since the early 1900s. These sorts of sites are rare in the current market so we are driven to introduce a vibrant, contemporary revitalisation of this breathtaking building that will pay homage to the site’s rich heritage.
“ Assets that stand out in the CBD are ones that have character and speak to the narrative of Melbourne’s celebrated history and culture. This building has that character in spades, and we cannot wait to breathe new life into it and then watch others embody it and imbibe it with their own energy and story.
“ Hotel Lindrum has consistently served as a hub for commerce, transitioning seamlessly through its life stages as a warehouse, tearoom, and billiard centre. Its historical significance as a beacon at the forefront of Melbourne’s business district remains integral to its next chapter, and we are leveraging this rich heritage throughout its design.
” Hotel Lindrum has long been a protagonist in the history and evolution of our city. Through investing in Hotel Lindrum, purchasers will acquire more than just a property; they are securing a coveted piece of the Hotel Lindrum brand – a quintessential Melbourne landmark.
“ The choice to establish a strata title asset stems from the growing demand from high-net worth, private companies who are choosing to invest in commercial properties for their own office rather than lease. These groups are seeking an opportunity to invest in assets imbued with both historical and social significance. Their preference is for
sophisticated and distinctive properties that serve as seamless extensions of their professional brand; it’s a symbol of
status and we are delivering a commercial asset class that is a rarity and increasingly highly sought after.
“ Time & Place identified a distinct need for premium strata office space in the Paris end of Melbourne’s CBD. In a market where sophisticated, A-grade strata office developments are a needle in a haystack, Hotel Lindrum presents an unprecedented ownership opportunity.
“ Hotel Lindrum has been designed to set a new standard for crucial strata office market encompassing a premium location, unparalleled connectivity, architectural and design excellence, sustainability, and superior amenities.
” We hold steadfast in our belief in the enduring value of office spaces for investors and occupiers and are committed to advancing our premium strata assets in and around the CBD periphery. The redevelopment will celebrate its coveted, front-row Flinders Street location, breathing new life into surrounding laneways and revitalising its corner of the city.
“This project represents a unique market offering in that we’ll be selling the floorplates as premium strata titles, so we are already fielding enquiries from interested parties who see this project as an incredible opportunity to add value to their existing portfolio.
“Time & Place has worked closely with Council to ensure our vision for this iconic site aligns with the City of Melbourne’s; our intention is to bring the site to market now that planning approvals are in place, with works set to commence in Q1 2024.