Making News

Developer Salta Properties has emerged as the $51 million buyer of a large site in Church Street as it looks to capitalise on surging office demand in Richmond, an inner-city Melbourne suburb dubbed “Silicon Yarra”.

Salta, best known for its Victoria Gardens project at the northern end of Richmond, has put its foot on a two-storey corner building at 459-471 Church Street in the southern fringe of the suburb, where it plans to build 25,000 square metres of office space across three buildings.

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Two significant properties in Melbourne have sold for a combined $130 million to separate purchasers, a St Kilda Road office building and commercial premises in Church Street, Richmond.

Singaporean businessman Teo Tong Lim has acquired the Myer Family Investments’ holding at 312 St Kilda Road for a reported $75 million.

The property was bought by interests associated with Tong Eng Group’s Group managing director Teo Tong Lim and is the group’s second major purchase in two months following the acquisition of the headquarters of the Country Fire Authority at Burwood East in Melbourne for $18.08 million in September.

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Developer Salta Properties has emerged as the $51 million buyer of a large site in Church Street as it looks to capitalise on surging office demand in Richmond, an inner-city Melbourne suburb dubbed “Silicon Yarra”.

Salta, best known for its Victoria Gardens project at the northern end of Richmond, has put its foot on a two-storey corner building at 459-471 Church Street in the southern fringe of the suburb, where it plans to build 25,000 square metres of office space across three buildings.

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Unlike many building projects, the construction of Tribe Hotels’ first hotel in Perth was on schedule.

It helped that most of the construction of the hotel, which opened in June, took place in China.
“We’ve done it by modular construction,” says Tribe co-founder Mark Peters. “We manufacture the hotel rooms in a factory in China and put them on a ship to Australia. In basic terms we stack them up like Lego. We can build cost effectively and faster than we would otherwise.”

Mark Peters founded Tribe with his wife Melissa after running a procurement business, MP Production, out of China for 15 years and seeing the possibilities for modular construction.

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Australia’s newest hotel brand, TRIBE Hotel Group (TRIBE), hosted an official opening ceremony in West Perth this week for its first property, TRIBE Perth.

The opening ceremony of the $30M hotel saw collaborators, stakeholders and supporters, fly in from across Australia including representatives from Salta Properties, Victor Smorgon Group, Mantra Group, Travis Walton Architecture and Idle Architecture, with international guests from Oberoi Group, and MP Direct also in attendance.

 

TRIBE owner and co-founder Mark Peters hosted the ceremony and shared TRIBE’s vision with the crowd:

“‘What do you want in a hotel?’ We asked. And we have listened. We’ve spent several years roaming the globe dissecting and admiring the very best hotel offerings and have learnt that now, more than ever; travellers want a designer driven, boutique hotel experience without all the fuss, at an affordable rate.

“TRIBE is an edited hotel experience for luxury lovers who appreciate high end design without the expensive price tag, and we’re incredibly proud to be launching here in Perth,” said Peters.

Mr John Carey MLA – State Member for Perth and Parliamentary Secretary to the WA Premier also delivered an address at the event:

“TRIBE hotel is a fantastic addition to West Perth and brings life and vibrancy into an important area in Perth. It’s a wonderful endorsement to have the first TRIBE hotel launching here. Facilities like TRIBE compliment the McGowan Government’s commitment to bring more visitors to WA and boost tourism in our State.”

The ribbon was cut to officially open TRIBE Perth by Mr John Cary MLA, Executive Director of Salta Properties Sam Tarascio Snr., and Michael Iaobucci of Victor Smorgon Group.

As Australia’s newest hotel brand, TRIBE is focused on giving guests an edited hotel experience, which delivers everything they need and nothing they don’t, in an intelligent and sophisticated space designed by award-winning Australian architect and interior designer Travis Walton.

TRIBE has immediate plans for national expansion with sites in Adelaide, Hobart and Melbourne secured, with opening dates to be announced in the near future.  .