Parade Inn Motel - SOLD

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Sold for 12,500,000 AUD Date of Sale: October 2014
Rooms: 41
Price Per Room: 304,878 AUD
Property Id : 30629

CBRE Hotels were delighted to present for your consideration a unique opportunity to acquire a functioning city fringe motel with significant development potential located at 539-541 Royal Parade Parkville, Parkville. Situated within the tightly held high profiled suburb of Parkville, the outstanding opportunity can be summarised by the following key attributes:

  • Strategic 3,221sqm inner city land holding;
  • Existing quality motel improvements allowing strong passing income with significant future development;
  • potential (STCA);
  • Extensive 25 meter frontage to Royal Parade and over 45 meters* to prestigious The Avenue;
  • Offered over three (3) individual titles;
  • Highly desirable location in the University precinct, close to Melbourne University and RMIT and within close vicinity to the Melbourne CBD, transport amenity and opposite Princes Park and Walker Oval;
  • Situated in one of Melbourne’s most prestigious and tightly held residential suburbs;
  • A very rare and exceptional land-banking opportunity.

Scott Callow

Senior Director, Capital Markets
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