Malaysia's Tune Hotels buys Melbourne site for $18.5 million

Malaysian group Tune Hotels has bought an infill site in Melbourne’s CBD from AMP for $18.5 million.

The 1,741 sqm property stretches between Flinders Street and Flinders Lane.

CBRE’s Josh Rutman, Mark Wizel and Paul Tzamalis negotiated the sale. 

Tune Hotels CEO Mark Lankester said the group was thrilled to make its foray into the Melbourne market. 

“Melbourne is a city that we are very familiar with and the opportunity for the hotel accommodation market, coupled with strong overall visitor growth, ticks all the boxes for us,” he said.