Melbourne’s historic landmark hotel, Lindrum, at 26-30 Flinders Street looks set to undergo a major reincarnation after Time & Place received the planning green light from the City of Melbourne for major redevelopment.

The Melbourne-based property developer acquired the site early 2022 from rich-lister Robert Magid for $50m – who bought the property from Cbus Property in 2008 for $35m – with an existing permit in place for a 30-storey mixed-use project, including hotel and residential apartments.

27-storey office tower

However, having identified a distinct need for premium strata office space at the Paris end of Melbourne’s CBD, Time & Place’s revised plans [for Lindrum] propose a pivot to 27-storey office tower instead.

In addition to a terrace as part of the front half of the roof of the existing building, there will be 150sqm of retail space on the ground floor and 10,008sq m of office space across the other floors.

Three basement levels will have car parking spaces and a car lift for access.

It’s understood that Time & Place is currently in the process of tendering the construction contract for the development, with works estimated to commence in Q1, 2024.

The plan now is for 10,000 sqm of premium office space, club house-style amenity, and a rear entry point with direct access to the culinary and high-end retail precinct of Flinders Lane.

There will also be a contemporary ground-floor events space behind the iconic heritage facade.

Strata office

Time & Place intends to abandon the typical commercial leasing structure in favour of a premium Strata office model. Each floor will have its own separate strata title, spanning around 300-600 sqm.

Tim Price, founder and director of Time & Place opted for strata title asset after recognising growing demand from high-net worth, private companies who are choosing to invest in commercial properties for their own office rather than lease.

He is already fielding enquiries from interested parties.

“These groups are seeking an opportunity to invest in assets imbued with both historical and social significance,” said Price.

“Their preference is for sophisticated and distinctive properties that serve as seamless extensions of their professional brand; it’s a symbol of status and we are delivering a commercial asset class that is a rarity and increasingly highly sought after.”

New Design

Architecture firm, FJC Studio has been charged with the job of breathing new life into Lindrum which was originally designed by Ward & Carleton in the early 1900s for the Griffiths Bros Tea Merchants.

The building’s most recent reincarnation in 1999 resulted in its conversion as Accor’s M-Gallery-operated 59-key hotel.

While much of the hotel is destined for demolition, the building’s sides and original Romanesque Revival façade will be retained.