The iconic Newport Social Club in Melbourne has been exclusively listed for sale through Burgess Rawson’s Zomart He, Matthew Wright and David Napoleone.

The significant hotel and gaming venue is expected to attract offers in excess of $14 million.

Leased to Williamstown Football Club and owned and operated by the hospitality heavyweight, Francis Venues Group, the generational corner freehold site is ideally situated just six kilometres from Melbourne’s CBD and directly opposite Newport train station.

Mr He said the Newport hotel is one of the Melbourne’s top gaming venues with annual revenue in excess of $7 million with local catchment householdings spending an annual total of $145 million on liquor and gaming.

“Furthermore, the hotel has been a Newport Institution for 30 years and has 66 valuable gaming entitlements to 2042.”

The property is currently leased to the Williamstown Football Club for five years, with three additional five-year options available. Rent reviews will alternate between annual CPI and market, and the property is expected to generate a net annual income of $850,000.

Situated in Hobsons Bay City, a rapidly growing area just six kilometres southwest of Melbourne's CBD, this property is in a prime and popular beachside location. Hobsons Bay is home to over 98,495 residents and is projected to grow by 22.39% to more than 120,546 by 2041.

The area includes key suburbs like Altona, Newport, and Williamstown, which are all experiencing significant development.

Mr Wright said the local area is thriving with more than $1.17 billion in building approvals granted in the past year, reflecting a 134% increase from the previous year. The local economy is strong, with 16.6% of total employment generated by 6,339 jobs in the last year alone.

Mr Wright added that they were already drawing strong interest in the asset due to its strong annual revenue and premium land size and value.

Mr He said hotels are back in favour adding that Burgess Rawson has transacted more than $665 million in Dan Murphy’s, First Choice Liquor, ALH, QVC and AVC freehold investments across Australia since 2009.

The prestigious investment opportunity is for sale via EOI Closing 3pm AEST Thursday 26 September 2024.