The freehold opportunity of South Melbourne’s long-standing pub and local institution will be offered to the market for the first time in 48 years.
JLL Hotels & Hospitality Group has been exclusively appointed to sell The Emerald Hotel, located at 409-415 Clarendon Street, South Melbourne. The sale campaign will be led by Will Connolly, Vice President - Investment Sales along with Nick MacFie, Associate - Investment Sales, and offered to the market via Expressions of Interest.
“The Emerald Hotel comes to the market at a time where both investment and developmental appetite is strong, evidenced by our recent freehold sale of the Wayside Inn, South Melbourne which was sold under Stage 4 lockdown conditions,” said Mr. Connolly.
“Whilst Victoria has been challenged like never before, many acquisitive parties have waited in bated breath for opportunities like The Emerald to emerge. Positivity within our market is suddenly appearing obvious given Victoria’s lockdown restrictions easing further for hospitality venues, coupled with record-low interest rates, it’s perfect storm for transactional revival in the hotel sector”
The property boasts a commanding 667sqm corner position on South Melbourne’s main retail & commercial strip, within minutes to the Melbourne CBD and Crown Casino, and a short walk to Albert Park Lake. The Emerald Hotel is a traditional pub featuring a spacious bistro, restaurant, sports bar with TAB facilities and courtyard/beer garden, and offers a footpath dining option on Clarendon Street.
Mr MacFie added, “With Commercial 1 Zoning and three street frontages, The Emerald Hotel also boasts some exceptional development potential and will definitely catch the attention of developers given the strong underlying real estate fundamentals of the asset as well as the near-term vacant possession of management. Flexibility is The Emerald’s advantage– occupy, invest or develop.”
Expressions of Interest close on Friday 4 December at 4:00pm (AEST).
Will Connolly
Vice President - Investment Sales
Hotels & Hospitality Group
M: +61 432 116 287
E: [email protected]
Nick MacFie
Associate – Investment Sales
Hotels & Hospitality Group
M: +61 415 673 197
E: [email protected]
