Could this be Melbourne's newest rooftop bar hotspot?
Melbourne’s rooftop bar culture is world-famous. Venues like Rooftop Bar on the top floor of Cookie on Swanston Street and the more recently opened Her Rooftop on Lonsdale Street attract locals and tourists seeking a genuine Melbourne city experience.
Now, a newly listed heritage gem in the heart of the CBD could be the next go-to rooftop destination for punters and has hospitality operators circling.
Set just 100 metres from Flinders Street Station, 2 Mill Place, Melbourne, is a beautifully restored three-level freehold building that dates back to the 1840s and is now on the market via Cushman & Wakefield with a price guide of $6 million-plus.
With a prime laneway address, dual street frontage, and zoning that permits hospitality, office, residential and gallery use, the potential of the venue is vast.
Cushman & Wakefield director Anthony Kirwan says it “ presents a rare opportunity to acquire a trophy freehold building in the heart of Melbourne’s CBD“.
“Most CBD buildings offered for sale at this price point over the past decade have been extremely run down and require significant capital expenditure,” he says.
“This is primed for a new long-term owner. The unrivalled 24-hour location, just 100 metres from Flinders Street Station, is special – so too is the dual street frontage aspect of the building and high-calibre tenants.”
The property is partially leased and offers a diversified income stream. The ground floor tenant is occupied by Mill Place Merchants, which is a trendy speakeasy cocktail bar, while level 2 hosts the award-winning 3D architectural visualisation render business FKD Studio.
Both tenants bring in a passive income of $291,618 plus GST a year.
Level 1 is offered with vacant possession, along with the rooftop space.
With its prime laneway location, flexible zoning, future development possibilities. and that enticing rooftop bar potential, Kirwan says interest has been strong, “particularly from private investors, hospitality groups, and owner-occupiers looking to secure a unique asset in Melbourne’s CBD”.
He adds that “the combination of character, location, quality of refurbishment and future development potential has resonated with a wide range of buyers“.
Expressions of interest close at noon on Thursday, August 20.
