Billionaire Justin Hemmes acquires Melbourne car park for new hospitality venue

Billionaire Justin Hemmes’ Merivale Group has purchased the Parkade car park at 34-60 Little Collins Street in Melbourne. The sale, set to settle in June 2025, faced opposition from local business owners due to its importance for nearby establishments. The City of Melbourne plans to reinvest the sale funds into community infrastructure. Hemmes aims to develop a hospitality venue that will enhance Melbourne's entertainment scene, creating jobs and boosting the local economy. Dexus currently holds a lease for the car park until June 2037, meaning any changes to the site's use will require an agreement between Merivale and Dexus.