Salta puts 63 Exhibition Street back on the market

63 Exhibition Street is officially for sale again, after Salta relisted the 894 sq m property located in the heart of Melbourne.

This will be Salta’s second attempt at selling the site. The family-owned company previously listed the property in 2020 for $90 million but eventually withdrew it from the market.

Uniquely positioned with frontages to Exhibition Street and Strachan and Chester Lanes, the property comes with development approval for a 52-storey mixed-use tower.

The proposed tower is exceptional for its approved plot ratio of 33:1, contrasting with the city’s usual restriction of 18:1 – allowing for a significantly larger total floor space.

Global real estate firm JLL is managing the sale and has reported over 100 registered inquiries, indicating strong interest – especially from international hotel chains.

Salta first acquired the property in 2014. It currently houses a 59-level structure with six levels of podium accommodation with a bar, restaurant, lobby, conference facilities, pool, recreation space and offices. Above the podium are 28 levels of accommodation, plant and residents’ amenity levels, and 20 levels of apartments.

Expressions of interest close on 6 March 2024.

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