257 Edwardes Street Reservoir VIC 3073

JLL Hotels & Hospitality, together with Cropley Commercial, are pleased to present for sale the Freehold Interest in Edwardes Lake Hotel, Reservoir, providing an outstanding opportunity to secure a 'trophy' investment asset in Melbourne's highly competitive gaming hotel market.

Located just 12km from the CBD in Melbourne's northern growth corridor, the property is underpinned by the security of a successful, multi-venue tenant with entitlements for 100 electronic gaming machines and extensive facilities encompassing an enormous land-banking opportunity of 48,900sqm within the rapidly expanding metropolitan suburb of Reservoir.

Investment highlights include:

* Large scale hospitality and retail complex incorporating bistro & bar, sports bar with TAB facilities, gaming lounge & bar with 100 EGMs, large indoor children's play area, attached drive-through, dual-lane bottle shop and 306-bay onsite car park
* Triple net lease with 2.5% annual increases and current net income of $1,400,000
* Securely leased to experienced multi-venue hotel operators
* Long term lease to 2041 with 2 x 20-year options
* Huge 48,900sqm* site in major growth corridor, 12 km from the Melbourne CBD
* Enormous long-term development potential (STCA)

*Approx.

For sale by Expressions of Interest closing Thursday 2 September 2021 at 5:00pm AEST.