British Crown Hotel, Collingwood for sale
The British Crown Hotel in Melbourne’s funky inner suburb of Collingwood is for sale.
The recently refurbished iconic pub at 14 Smith Street is two kilometres away from the CBD. Set on 550 square metres of land, the two-level hotel is likely to attract offers of more than $3 million.
According to RP Data, it last sold in 1987 for $1,085,000. Before that is had changed hands in 1982 for $260,000.
The British Crown is being offered with an established lease in place.
CBRE Hotels agents Scott Callow, Mark Wizel and Joseph Du Rieu will handle the private treaty sale.
“We have seen many recent property sales along this trend, evident in the transaction of the Clarendon Hotel and Town Hall Hotel in South Melbourne, the Railway Hotel, West Melbourne, and the Duke of Kent Hotel in the north western corner of the CBD,” says Rieu.
Demand for prime sites within the CBD and city fringe is record setting with land values growing from $14,000 a square metre to $28,000 a square metre, according to CBRE.
