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Rialto Tower owners take control of King Street nightclub strip

People & Companies / Latest News

Australia

Mar 27 2018

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Lorenz Grollo, who co-owns the Rialto Tower, has bought the Inflation Nightclub in an off-market deal, giving him control of the King Street nightclub strip. 

Joint Venture partner St Martins Properties was also part of this deal, co-purchasing property from Peter Iwaniuk. 

The sales means the JV partners now own all King Street properties, including the recently completed Collins Street retail and office development. 

Mr Grollo told The Australian Financial Review he had appointed architects Woods Bagot to development a master plan for the King Street Precinct, which would possibly include restaurants, a jazz bar and a hotel. 

The partners also own the York Butter Factory at 62-66 King Street, and bought the premises of Rare Steakhouse at 42-44 King Street for $2.9 million.

Mr Grollo said he plans to clean up King Street. 

 

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