$100m new build slated to open in The District Docklands, Melbourne in January 2023

AsheMorgan today announced the signing of Nesuto Docklands Apartment Hotel as a milestone expansion to Melbourne’s The District Docklands mixed-use precinct.

The 211-key apartment hotel designed by Melbourne based Fender Katsalidas Architects will feature 58 x 1-bedroom, 20 x 2-bedroom, and 133 studio apartments.

“The addition of Nesuto Apartment Hotel forms part of our long-term vision to create a modern urban village at The District Docklands. The welcomed partnership adds another layer to our expanding community hub where people can live, work and play all in the one place and is another vote of confidence from a strong accommodation player in support of our long-term strategy of the broader precinct” said George Karabatsos, CEO of The District Docklands.

“Despite current market conditions, we are confident retail and tourism remain crucial to Victoria’s rebuild post-COVID-19. As a multipurpose destination, we will ensure The District Docklands continues to attract exciting partners, retailers, and most importantly, our customers who want to shop, stay, dine, and be entertained. This additional $100 million investment is part of the group’s continued commitment to the regeneration of the broader precinct and their ongoing investment in the Victoria economy. This development will assist in generating approximately 400 jobs” said George Karabatsos, CEO of The District Docklands.

Located at 80 Waterfront Way, Nesuto Docklands Apartment Hotel will form part of the open-air precinct of The District Docklands. The District currently hosts diverse retail, dining, and entertainment and is home to some of Melbourne’s top attractions as well as Australia’s most technologically advanced HOYTS cinema complex.

“We are pleased to partner with such a highly regarded agile hospitality business for the signing of Nesuto Docklands Apartment Hotel,” said Andrew Whiteside, Development Director at AsheMorgan, “The continued investment in infrastructure and regeneration of The District Docklands is purpose-built for the future. The precinct will continue to evolve into a seamless extension of Melbourne’s CBD, a complete offering that attracts both leisure and corporate visitors.”

The partnership sees Nesuto add its first Victorian property to its existing portfolio of 11 operating and 1 pipeline hotel and apartment hotels in Australia and New Zealand.

The signing also marks the first time Nesuto has partnered with the Australian real estate investment firm, AsheMorgan which is the owner of The District Docklands, Melbourne. The total investment of the new-build apartment hotel is $100 million.

“Our unique hotel and apartment hotel model allowed us to completely tailor our approach to the development and deliver a property which will serve the variety of needs of the mixed-use precinct,” said Mark Ronfeldt, CEO of Daiwa Living Nesuto.

Construction of Nesuto Docklands Apartment Hotel is expected to commence early 2021 and is due for completion by January 2023.