Beach Hotel, Foodworks Albert Park listed

Beach Hotel, Foodworks Albert Park listed
Staff ReporterFebruary 13, 2017

An Albert Park, Melbourne site with existing hotel and supermarket on 1,700sqm of land has been listed with price expectations around $16 million.

The site features the Beach Hotel, which currently has a seven year lease and 32 pokies as well as the nearby Foodworks Supermarket on a ten year lease.

Justin Dowers, CBRE director of retail investments, Victoria and NSW said both leases have development clauses in them in the instance that the preference is to develop luxury apartments given the Beaconsfield Parade / Port Phillip Bay outlook.

Editor's Picks

26 Vista Street, Surfers Paradise apartment development, hits 70 per cent sold
Latent Defects Insurance 101: What is the Technical Inspection Service (TIS) Program
City Beat January 2025: Gold Coast property values continue to grow as off the plan enquiries hit near 12-month high
Live parkside in Melbourne for under $500,000
Amalgamated Property Group launches Affinity Broadbeach apartments ahead of construction commencement