MELBOURNE – Kokoda Property Group has purchased the landmark Saint Hotel at 54 Fitzroy Street, St Kilda for $8.4 million, in a deal that underscores growing confidence in Melbourne’s hospitality sector.
The Saint Hotel occupies a prestigious corner site with dual frontage to Fitzroy Street and Canterbury Road, placing it at the heart of St Kilda’s vibrant entertainment and dining precinct. The property spans approximately 1,150 square metres across multiple levels and features a world-class architectural design with premium finishes, multiple bars, kitchens, dining areas, private rooms, cellars and a rooftop terrace.
Offered with vacant possession and flexible Commercial 1 zoning, the venue presents Kokoda Property Group with a turnkey opportunity to revitalise the building and capitalise on the precinct’s ongoing renaissance.
Kokoda Property Group's Managing Director, Mark Stevens said “Our vision for Saint Hotel is to create a venue that feels like a natural extension of Fitzroy Street - open, vibrant, and genuinely connected to the community. This will be a place where locals feel at home and where great design meets relaxed hospitality.”
The sale represents a significant outcome for one of St Kilda’s most recognisable assets and follows a competitive campaign led by Daniel Wolman, Oliver Hay, Anthony Kirwan and Leon Ma of Cushman & Wakefield on behalf of FTI Consulting as liquidator.
Daniel Wolman of Cushman & Wakefield said the campaign attracted strong local and offshore interest, reflecting renewed confidence in Melbourne’s lifestyle and hospitality market.
“This sale demonstrates the enduring appeal of character-rich hospitality assets in Melbourne’s lifestyle precincts. The competitive bidding environment highlights strong demand from owner-occupiers and investors seeking flagship venues in high-profile locations.”
Oliver Hay of Cushman & Wakefield said “St Kilda continues to experience significant growth, driven by luxury developments, cultural upgrades and surging demand for premium hospitality offerings.
“Kokoda Property Group’s acquisition positions the group to leverage these trends and breathe new life into one of Melbourne’s most iconic hospitality destinations”.
