Merivale, owned by billionaire Justin Hemmes, has quietly purchased the Art Deco building known as Kantay House in Melbourne’s CBD. The warehouse converted restaurant investment, located at 12-18 Meyers Place, is expected to be occupied by Hemmes after an estimated $15 million investment.
The property, which also fronts onto Windsor Pl, is predominantly leased to Argentinian steakhouse San Telmo, with smaller tenancies rented out to Italian eatery Pizza Pizza and cocktail bar Lily Blacks. With a total area of 1117 sqm spread over two floors and a basement, the land offers development potential due to the inclusion of a demolition clause in the leases.
Speculation suggests that Hemmes may capitalize on the property’s location in Melbourne’s “Paris End,” near Parliament House and a cluster of government employees, by building into the airspace. The property is adjacent to the site where the Department of Education will soon have a new building.
The vendors, who have owned the property since 1993, were represented by Cushman & Wakefield’s George Davies, Oliver Hay, Leon Ma, and Daniel Wolman. The property was previously listed for sale in 2000 but was not successfully sold.
Kantay House is the third Harry Norris-designed building to be recently brought to the market. In 2020, Forza Capital acquired the 11-level Nicholas Building, and Sherbrooke’s Burnham Beeches was sold as a hospitality venue.
This latest acquisition marks Merivale’s continued expansion into Melbourne’s CBD. Hemmes previously purchased the c1853 Tomasetti House on Flinders Lane in 2019 and recently acquired the Lorne Hotel, which has reopened as Totti’s.