Iconic Melbourne hotel hits the market for around $5-6 million
Melbourne institution the Tolarno Hotel is up for sale, with property agent CBRE calling for expressions of interest.
The iconic restaurant made famous by artist Mirka Mora and her husband Georges in the 1960s, hit the market on Tuesday.
Holocaust survivor Mora was well-known in the Australian art scene and passed away in 2018, aged 90.
Once sold, the new owner will take possession of the boutique Fitzroy Street’s 37-room hotel, restaurant and bar, but also some of Mora’s valuable art collection.
CBRE senior director of hotels Scott Callow is expecting enormous interest, with calls already coming in.
Callow estimates an asking price of around $5-6 million.
“A lot of people throw around terms ‘unique’ and ‘iconic’ when describing property, but this genuinely has a history through Mirka’s connections and is certainly a part of St Kilda and Fitzroy streets’ evolving space,” Callow said.
“I genuinely believe (the area) is turning a corner.”
Current owners James Fagan and Bernard Corser are selling the 968 sqm property freehold after 30 years.
“(The sale) also includes the restaurant, which is not trading, and a bar. The hotel, with conference spaces, is currently under a long-term lease with rent being paid on that. There is an ability for a new owner to install a new beverage and restaurant offering,” Callow said.
Guy Grossi, Iain Hewitson and Leon Massoni have all served at The Tolarno.
It is hoped the sale of The Tolarno will help revive Fitzroy Street and comes as Ronald Di Stasio and Mallory Wall look to reopen Cafe Di Stasio in the area.
Melbourne chef Karen Martini is also set to make waves with the relaunch of the Saint George next week.
Jonathan Jackson, 24th January 2024
