Boutique four star Bourke St hotel listed

Boutique four star Melbourne hotel Alto Hotel on Bourke has been listed for sale through an International Expression of Interest closing September 24.

The site was formerly the head office of the Victorian Railways Union, constructed in 1914, and the original location of the Railways Hotel, built around 1860.

Hoteliers Ricardo and Suzanne Krauskopf purchased the hotel in 1999 and opened it in 2006 after significant extensions to the now 50 room hotel spanning six floors with a total area of 2,800sqm. 

They sold the premises around three years ago to an investor with an eight-year lease with six options of four years each - a net income in excess of $800,000 p.a.

It is Australia’s only 6 Star NABERS rated hotel and has won a host of other awards.

Joseph Du Rieu from CBRE Hotels said the hotel runs on 100% renewable energy and the market yet to be tested with a hotel that dominates in the environmental stakes.

“The building, which was constructed by members of the union offering free labour and utilising recycled material where possible, is rich in character and history,” Mr Du Rieu said.

The property includes several other sustainability additions such as outlets for recharging electric cars.