OUR $200m TOWER
City’s biggest hotel planned for Ryrie St
CENTRAL Geelong’s largest hotel would be built on Ryrie St as part of a $200 million project that includes new apartments, retail and office space.
A Melbourne-based developer is planning to create a 200-bed hotel and 90-room serviced apartment complex on its newlyacquired 44 Ryrie St site.
If it goes ahead, it would be the first major new hotel in the city for more than 15 years and offer more beds than both Rydges Geelong and Novotel Geelong.
CENTRAL Geelong’s largest hotel would be built on Ryrie St as part of a $200 million commercial project that includes new apartments, retail and office space.
Franzé Developments is planning to create a 200-bed hotel and 90-room serviced apartment complex on its newly acquired 44 Ryrie St site.
The Melbourne-based developer is also forecasting about 5000sq m for office space and 1000sq m for ground floor retail in the mixed-use venture.
If built, it would be the first major new hotel in the CBD for more than 15 years and offer more beds than both Rydges Geelong (138) and Novotel Geelong (109).
Franzé Developments managing director and founder Paul Franzé said the application would be submitted by August, with an eye on beginning construction in late 2018.
“Geelong continues to grow and evolve and currently attracts 2.2 million overnight visitors annually, which means there is a gap between supply and demand across the region,” he said.
“We are looking forward to creating a genuine mixed-use project in Geelong, which is a new market for us.”
The site, directly opposite Barwon Water’s new headquarters, had been pitched by Quintessential Equity as the Australian base for the National Disability Insurance Agency.
However that $120m project was secured by Techne Development, which will build the NDIA headquarters on the site of the former Carlton Hotel on Malop St. Franzé Developments has since bought the 2700sq m site at 44 Ryrie St for $7 million, and has been working with the City of Greater Geelong and State Government to progress its plans. It has also held talks with several accommodation providers, aiming to create the serviced apartments and hotel in the 4-4.5 star rating.
There are several hotel projects being pursued for central Geelong, as investors aim to cater to the untapped potential of the sector. The new owners of the long-neglected Ritz building in Bellerine St last month lodged plans for a 106dwelling residential hotel.
And prominent local developer Bill Votsaris has bought the building on the corner of Moorabool and Malop streets (Thomas Jewellers), with a view to turning the five-storey property into a boutique hotel.
Geelong’s tourism chief, Roger Grant, has estimated the city needs up to 2000 new guest rooms to meet expected tourism growth over the next decade.
Franzé Developments has a suite of projects under construction across residential, commercial, retail and industrial sectors, including another in Geelong.
Architectus, which is contributing to the 70-level tower in Melbourne’s La Trobe St, has been appointed as the project design team for Ryrie St.