1 Crockford Street Port Melbourne VIC 3207

JLL Hotels & Hospitality Group is thrilled to exclusively offer for sale for the first time in 25 years, the freehold interest in Port Melbourne's Cornerstone Hotel.

Securely leased to experienced, multi-venue hospitality operators, the asset presents an outstanding opportunity to enter into or add to your portfolio in one of Melbourne's most sought-after and tightly held markets.

Investment highlights include:

* Attractive lease terms offering a 5-year initial term with options to 2037, annual increase via CPI and rental income of $144,637 plus GST
* High profile corner site with over 20 metres of street frontage to Port Melbourne's main retail strip, Bay Street
* 413sqm site within flexible Commercial 1 Zone offering significant underlying land value
* Landmark pub asset, fully refurbished providing two floors of generous trading zones for the tenant
* Affluent bayside location and top growth suburb attracting a median house price of $1,850,000 for the Dec-23 quarter
* Surrounded by quality amenity and recreation areas with excellent connectivity via light rail and tram

For sale via national Expressions of Interest closing Wednesday 1 May 2024 at 5:00pm AEST.

For further information on this opportunity, please contact the exclusive selling agents.