Peregrine’s master plans for the site include the development of new commercial and office buildings.
Tribe Hotel Group (Tribe) a joint partnership between co-founders Mark and Melissa Peters, Salta Properties and Victor Smorgon Group, has purchased 60 Langridge Street, Collingwood, a 1,056m2 site earmarked to be the group’s flagship property.
“In our search for a flagship location Collingwood has stood out as a vibrant commercial precinct with huge appeal to our customer base and easy links to Melbourne’s CBD. The area has become Melbourne’s most desired precinct for entrepreneurial business and well regarded SME’s that will find great value in having access to our lifestyle hotel product. Tribe’s signature design, luxurious shared spaces, and cutting-edge technology will seamlessly align with the neighbourhood and deliver an affordable and considered stay to business and leisure travellers alike,” says Mark Peters.
The site was purchased from Peregrine Projects and forms part of their larger landholding (approx. 3000m2) acquired late last year. Peregrine’s master plans for the site include the development of new commercial and office buildings.
Joseph Chahin, Managing Director of Peregrine Projects commented; “The sale to Tribe Hotel Group is the first step in a five-year re-development plan and the intended hotel usage cements the precinct as an iconic destination point.
The deal was brokered off market by Colliers, Associate Director (Hotels) Guy Wells, and was completed in late January 2018. The purchase price is undisclosed.
“Given the surrounding lifestyle amenity of Smith and Gertrude Streets and the ongoing office development in the area, with over 30,000m2 of office to be developed in the short to medium term, Collingwood has been sought after by numerous hotel developers and operators. A Tribe hotel will work seamlessly with the growing corporate and existing leisure market in the Collingwood area” said Mr Wells.
Tribe opened the doors of its first property Tribe Perth in June last year, which has been well received by the design community and nominated as award finalists in a number of international design awards. Further expansion plans are well underway with Tribe hotel sites acquired in Hobart and Adelaide, alongside a move into international markets.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
