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Major tenant sought

04 Jul, 2009 10:16 AM
PLANS to transform the former Advertiser building into a grandiose $25 million hotel are now dead.

Expressions of interest to lease the old Advertiser building at 96-98 Pall Mall and 202 Hargreaves Street are being called for.

A Tweed Sutherland Real Estate advertisement has called for a “major tenant” at the site, which would “suit professional office suites, retail hospitality”.

At its June 3 meeting, the City of Greater Bendigo resolved to designate the OMNI Property Group as its preferred purchaser and developer of the sites.

OMNI’s original plan was to develop a four-star, 120-room, six-storey hotel that was hoped to be open as early as next year.

The Advertiser reported on May 23 that the $25 million, four-star hotel was in doubt, after OMNI was forced to reassess its proposal because of the global financial crisis.

City of Greater Bendigo acting chief executive officer Stan Liacos said Tweed Sutherland, which has advertised for expressions of interest, was acting on behalf of OMNI.

Mr Liacos also said that advertising for expressions of interest followed on from the council’s agreement to give OMNI an extension of time.

“OMNI still believes that a hotel operation in central Bendigo would be good and we concur with it that it might be appropriate to incorporate some office and retail use as a part of the overall mix of the development,” Mr Liacos said.

“We have a firm view that this site that we own needs a quality outcome.

“It is a very strategic location and we are continuing to work closely with our designated development partner, the OMNI Property Group, to help secure a quality developmental outcome.”

The closing date for expressions of interest is July 31.

OMNI Property Group associate director Lou Garita did not return The Advertiser’s calls yesterday.

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Date: Newest first | Oldest first
Crisis accommodation for the destitute – soup kitchen perhaps – a plethora of uses for community benefit. Ohh sorry... you want a commercial return.
Posted by Irreverent Dissident, 4/07/2009 9:45:34 AM

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TOUGH TIMES: The former Advertiser office in Pall Mall faces an uncertain future.
TOUGH TIMES: The former Advertiser office in Pall Mall faces an uncertain future.

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