Developer acquires former hotel to transform into $120M townhouse project

Melbourne-based developer Primeland has acquired the former Savoy Hotel in Brighton and plans to transform it into a $120-million apartment and townhouse project.

The developer has signposted plans to transform the 3400sq m site at 150 Esplanade into a mix of two and three-bedroom residences with unobstructed views across the bay, and a separate collection of luxury townhouses at the rear of the site.


Built as a private residence in 1909, it was transformed into the four-star Savoy Hotel, overlooking Brighton Beach in 1959.

It has been owned by the Lee family for 55 years, and was put to market earlier this year.

Primeland chairman Robert Brij said the acquisition of the Savoy Hotel underpinned the developer’s strategic focus on the ultra-luxury residential sector.

“This site is a prime jewel in the crown of Brighton—the fact that it has only transacted once in 55 years underpins its rarity and location overlooking the bay,” Brij said.

“The vision for this project is to create a luxury experience that is befitting of this superior address, that will stand as a landmark for not only Brighton but all of Melbourne.”

The project will be targeting high-net-worth Bayside residents with prices between $5 million and $20 million.

The developer has made a “strategic re-weighting” into luxury residential assets to complement its existing portfolio in industrial, residential and infrastructure developments.

“The last few years have seen significant growth in our portfolio and capabilities as we focus on building a mixed-use pipeline across Australia in the hotel, industrial and residential sectors,” Brij said.

“We are particularly interested in Melbourne’s ultra-high end of the luxury residential market, we think there is considerable opportunity and we are confident in the continued demand for ultra-high end assets noting that this end of the market is largely unaffected by macro-economic factors or interest rate rises.

“The Savoy is the type of development site that will allow us to create something that will honour its location along one of Australia’s most famed Esplanades; we are excited to appoint a leading architect that shares this vision in the coming months and progress to the planning stage with council in due course.”

Via The Urban Developer

Get our enews

Design and development news that comes to you


Sun Ranch: A paradigm of luxury and creativity in Byron Bay's Hinterland

In the heart of Byron Bay's hinterland lies a sanctuary of unparalleled luxury and creativity: Sun Ranch. Spread across ...

Permeable wooden cladding merges boutique hotel with nature on a Brazilian island

In a harmonious fusion of luxury and nature, Maria Flor Inn, a boutique hotel nestled on the picturesque ...

Studio Paolo Ferrari transforms Toronto restaurant with cinematic interiors

Toronto's downtown area is now home to a cinematic dining experience unlike any other, courtesy of the innovative ...

21-Storey Tower in Epping closer to reality with revised plans

The skyline of Epping may soon see a new addition as revised plans for a 21-storey tower have ...


Stay connected to the SPEC

Join our reader network by signing up to our weekly newsletter and receive design and development news straight to your inbox

Specifier Source is brought to you by the same company that publishes Home Design, Grand Designs Australia Magazine, Kitchens & Bathrooms Quarterly Magazine, Outdoor Design Source, Build Home, CompleteHome and many more.

© 2022 Universal Media Co. All Rights Reserved. Privacy Policy. Terms of Service. The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Universal Media Co.