The recently refurbished, three-storey hotel at 280 Lygon Street was sold with vacant possession following a competitive on-site auction. The buyer has plans to open the pub immediately upon settlement in April 2018, to capitalise on the high-quality renovation.

CBRE Hotels agents Scott Callow, Will Connolly handled the marketing campaign on behalf of East Brunswick Property Pty Ltd. Mr Connolly noted the ‘invest today and trade tomorrow’ prospect was highly appealing to several bidders.

“The property presented as an ideal opportunity for an owner operator or value-add investor with the bulk of the work already in place to trade immediately. In the end, our purchaser has now secured one of the most attractive pubs in the greater Melbourne area which has the ability to provide multiple income streams from hospitality to boutique accommodation,” Mr Connolly said.

“The sale of the East Brunswick Hotel has capped off an extremely boisterous end to the year for Melbourne pub sales. We’re thrilled with the market’s appetite and looking forward to continuing the momentum in early 2018.”

Situated on a commanding corner block, the substantial 905sqm venue comprises three separate entertaining areas, a former cellar that operates as an open plan function area plus a cocktail bar and balcony. It also offers 12 modern hotel rooms, all fitted with bathroom and lounge facilities.

The hotel is strategically located within Brunswick East - an area earmarked for significant population growth, as several former commercial sites are replaced by high-density residential apartments and townhouses.

To discuss the sale in more detail contact Will Connolly of CBRE via the below contact details.

Click here to view Will Connolly's profile.

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