Hotel for Sale – The Prince of Wales Hotel
CBRE are delighted to be managing the sale of The Prince of Wales Hotel, located in St Kilda Melbourne, Victoria via an Expression of Interest campaign which closes on October 12 2023.
The property, an iconic establishment in St Kilda, has been listed for sale by Melbourne-based hospitality business, Jackalope Group, which purchased the property in 2015 for $45 million.
Following a recent multimillion dollar refurbishment, the 1920s corner hotel has become one of Melbourne’s most attractive hotels.
For many years, the Prince of Wales has embodied the character of St Kilda in a single building, absorbing the area’s eclectic personalities, the history of the property steeped across its many facets.
The freehold investment is being sold subject to an existing long lease with the Melbourne Pub Group owned by the Ryan Family who also own and operate Mitchelton Estate and Hubert Estate in the Yarra Valley.
Located on the corner of Acland and Fitzroy Street, the hotel comprises a street bar, an award-winning dining room, 39 boutique hotel rooms, a bakery with an adjoining retail outlet, a Euro-inspired wine store and a function space with an indoor pool as well as a multi-level car park.
For more information contact CBRE’s Scott Callow and Nathan Mufale who are managing the sale on behalf of Jackalope Group.