The Tolarno Hotel in St Kilda is sold for $6 million

St Kilda’s iconic Tolarno Hotel, a cultural hub for Melbourne’s arts scene since the 1960s, has been sold to a local private investor for approximately $6 million. The sale marks the end of an era for owners James Fagan and Bernard Corser, who have owned the 37-room hotel for nearly 30 years.

Located on a prime 968sqm site at 42 Fitzroy Street, Tolarno Hotel boasts a rich history in the local art and culinary scene. Founded by French immigrants Mirka and Georges Mara, the hotel has been a cornerstone of Melbourne’s cultural renaissance since its establishment in 1967.

Mirka, a Holocaust survivor and renowned visual artist, and Georges, an influential art dealer, transformed Tolarno Hotel into a vibrant space that showcased contemporary art and fine dining. The hotel features valuable collections of original artworks, including murals by Mirka that highlight her artistic evolution over the decades.

CBRE’s Scott Callow, who brokered the deal along with colleague Nathan Mufale, expressed his satisfaction with the sale, stating, “Tolarno Hotel is immediately recognisable as a part of St Kilda’s history. I am pleased that the buyer has a history in the area and will continue its legacy as a Fitzroy St landmark.”

With plans for expansion, including the addition of nine hotel rooms, the new owner aims to build on Tolarno Hotel’s legacy while capitalizing on its prime location and commercial zoning designation. Fagan and Corser, who purchased the property in 1996 for $1.01 million, have passed the torch to a new chapter in the hotel’s storied history.