That's Built · Building report

Melbourne Place

124-134 Russell Street, Melbourne VIC 3000

Generated 8 November 2026
Commercial ·

—height

15floors

2024completed

0businesses

14permits

Development milestones

Planning application	2020	Planning application TP-2020-9 lodged
Approved	By 2021	Planning permit granted (exact date not recorded)
Construction started	Jul 2021	First major construction permit issued
First occupants	Oct 2024	First occupancy permit issued
Completed	2024	Melbourne Place completed: 15 floors

Building team

Developer: LongRiver Group
Developer: Triple MMM Holdings
Developer: Merricks Capital
Architect: Kennedy Nolan
Builder: ADCO Constructions
Owner: Ark Capital Partners
Co-owner or investor: Lead Global

Planning & subdivision

Zone: CCZ1
Overlays: DDO1, DDO2, DDO2-A5, PO1
Scores: 🚆 8 · ☕ 7 · 🌳 6 · ✨ 10

Timeline

5 May 2025Ennismore brings Hyde brand to Melbourne Place hotel
Ennismore leased the Russell Street hotel for its first Australian Hyde property, which was relaunched as Hyde Melbourne Place. Real Estate Source reported that the hotel had opened the previous August, and Ennismore said it would officially open under the Hyde name on 2 May 2025.

28 Jan 2025Ark Capital and Lead Global buy Melbourne Place hotel from Merricks Capital
Ark Capital Partners and Lead Global, backed by Pioneer Wealth, completed the purchase of the Russell Street hotel from Merricks Capital, reportedly for about $150 million. The 15-level, 191-key hotel was reported to have opened in late 2024. The buyers planned a co-branded hospitality fund to hold it.

20253 building permits and 2 certificates · about $623k of new works
Largest: Retail Fit Out

2024Melbourne Place completed: 15 floors
Derived from City of Melbourne Development Activity Monitor

Oct 2024First occupancy permit issued
Derived from City of Melbourne building permits

9 Apr 2024Melbourne Place hotel tops out
ADCO Constructions announced that the concrete structure of the Russell Street hotel had topped out. The company described the project as a two-level basement and fourteen-level luxury hotel with 183 guest rooms, 4 suites and 4 penthouses.

20241 building permit and 4 certificates · about $5.2m of new works
Largest: Stage 2 - Basement and in-ground services and piling and retention system.

20233 building permits
Largest: Stage 5: Architecture

6 Dec 2022Partly built Russell Street hotel placed up for sale after developer defaults
Merricks Capital, the senior lender, placed developer Triple MMM Holdings into voluntary administration over payment defaults. The partly built 15-storey, 189-key hotel was valued at about $155 million once complete, and administrators received about 40 expressions of interest for the sale.

2022Council census records it as unoccupied - under construction, 1 floors

20221 building permit
Largest: Stage 2 - Basement and in-ground services and piling and retention system.

By 2021Planning permit granted (exact date not recorded)
Derived from City of Melbourne Development Activity Monitor

Jul 2021First major construction permit issued
Derived from City of Melbourne building permits

28 May 2021Longriver proposes bigger hotel at ex-Theosophical Society HQ
Longriver proposed a larger hotel on the Russell Street site, described as a $150m guesthouse with 190 rooms over 13 floors. The article said the approved Kennedy Nolan project was due for completion in 2023.

28 Jan 2021Demolition of former Theosophical Society building prompts notice-rights dispute
The former Theosophical Society building was approved for demolition twice, and residents objected to demolition for a hotel. Residents said they had learned only late that the Capital City Zone gave them no public notice rights. The building was put forward for heritage protection in the Hoddle Grid Heritage Review.

20211 building permit · about $70.4m of new works
Largest: Stage 1 - Demolition. Development of a mixed-use building

2020Planning application TP-2020-9 lodged
Derived from City of Melbourne Development Activity Monitor

2020Council census records it as unoccupied - unused, 5 floors
Name recorded: Melbourne Theosophical Society

2011Council census records it as office, 5 floors
Name recorded: Melbourne Theosophical Society

2002First council census entry: office, 5 floors

Building permits and certificates (15)

Each cost is the estimate on that record. Stages of a project often repeat its full value, so these don't add up to what was spent.

22 Dec 2025	Retail Fit Out	$221k
19 Dec 2025	PROPOSED ACOFFEE FIT OUT - SHOP 2 - 130 RUSSELL ST	$180k
29 Oct 2025	Alteration to existing building - signage	$33k
01 Oct 2025	Internal fitout works to class 6 retail tenancy - Bake Stand	$190k
19 Aug 2025	PROPOSED ACOFFEE FIT OUT - SHOP 2 - 130 RUSSELL ST	$180k
02 Dec 2024	Alterations to an existing building	$5.2m
25 Oct 2024	Stage 2 - Basement and in-ground services and piling and retention system.	$70.4m
25 Oct 2024	Stage 4: Services (Above Ground Base Building	$70.4m
25 Oct 2024	Stage 5: Architecture	$70.4m
21 May 2024	Alterations to an existing building	$5.2m
19 June 2023	Stage 5: Architecture	$70.4m
24 Mar 2023	Stage 4: Services (Above Ground Base Building	$70.4m
13 Feb 2023	Stage 3 - Structure Basement Level 2-Roof, Civil (Above Ground).	$70.4m
01 Feb 2022	Stage 2 - Basement and in-ground services and piling and retention system.	$70.4m
27 July 2021	Stage 1 - Demolition. Development of a mixed-use building	$70.4m

Questions and answers

Is Melbourne Place residential or commercial?
Melbourne Place is a commercial building.

When was Melbourne Place built?
Melbourne Place was completed in 2024.

How many floors does Melbourne Place have?
Melbourne Place has 15 floors above ground.

Does Melbourne Place have hotel or student accommodation?
The City of Melbourne records 191 hotel rooms at Melbourne Place.

What businesses are in Melbourne Place?
The latest council census counted 0 businesses in Melbourne Place.

Is there office or retail space for lease in Melbourne Place?
See the commercial listings on this page, or search this address on realcommercial.com.au and commercialrealestate.com.au.

Who designed and built Melbourne Place?
Merricks Capital developed Melbourne Place, Kennedy Nolan designed it and ADCO Constructions built it. The building team section has the sources.

What public transport is near Melbourne Place?
Town Hall Station is the nearest train station, about 4 minutes' walk. The nearest tram stop is Russell St/Bourke St #7, about 1 minute's walk.

What is the planning zone for Melbourne Place?
The site is in the Capital City Zone - Schedule 1 (CCZ1).

What was on the Melbourne Place site before?
The site was the former headquarters of the Melbourne Theosophical Society. In May 2021 LongRiver proposed a bigger hotel on the site.

Has any work been done on Melbourne Place recently?
The City of Melbourne has issued 14 building permits for Melbourne Place since 2021. The most recent was in October 2025.

Sources: City of Melbourne building permits (CC BY 4.0); CLUE building information (CC BY 4.0); Development Activity Monitor (CC BY 4.0); Geocoded National Address File (G-NAF) (Open G-NAF EULA (CC BY 4.0 based)). General information from public records, not legal, financial or building advice.