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The Olsen Melbourne Art Series Hotel – Image Credit Accor
The Olsen and The Cullen hotels in Melbourne have been listed for sale, with potential for individual or portfolio acquisition.
The Olsen and The Cullen, two hotels located in Melbourne’s suburbs of South Yarra and Prahran, are now on the market. The properties are part of the Art Series Hotels, which are inspired by Australian contemporary artists. The sale process is being managed by CBRE through an Expressions of Interest campaign.
Both hotels are currently under a lease agreement with Accor, which is set to expire in March 2026. This offers the possibility of vacant possession for new owners in the near future.
The Olsen, situated in South Yarra, includes 224 guest rooms and suites, along with restaurant and retail spaces, conference facilities, 79 parking spaces, a gym, and a swimming pool. The Cullen, located in Prahran, provides 119 guest rooms and suites, meeting spaces, 30 parking spaces, a gym, and vacant ground floor retail spaces.
The properties are positioned in prime inner-city locations. South Yarra is known for its boutiques and dining options, while Prahran is recognized for its vibrant cultural scene and high foot traffic.
The sale of these hotels presents opportunities for adaptive reuse, potentially converting them into co-living or Build-to-Rent models. The Expressions of Interest campaign for these properties will close on Tuesday, September 16, at 2:00 p.m. AEST, unless sold prior.
The sale is being managed by CBRE’s Michael Simpson, Tom Gibson, Andrew Williams and Nick Hill.
