Wayside Inn sold a 'positive sign' for the Melbourne market - JLL Hotels and Hospitality
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Wayside Inn sold a 'positive sign' for the Melbourne market - JLL Hotels and Hospitality
The freehold concern of the Wayside Inn in South Melbourne has sold for the first time in over 25 years through Will Connolly of JLL Hotels and Hospitality Group.
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JLL Hotels and Hospitality Group teThe Wayside Inn, South Melbourne.
The freehold sale of South Melbourne's Wayside Inn should provide confidence to hotel owners throughout the city's metropolitan area, according to JLL Hotels and Hospitality Group
Siutated at 446 City Road, South Melbourne, the property features a public bar area, dining room with adjacent courtyard and beer garden, and an upstairs function room with a dedicated bar and outdoor rooftop area.
The venue also benefits from a 5:00am liquor licence.
At a glance:
- The freehold interest of the Wayside Inn at 446 City Road, South Melbourne has been sold through JLL Hotels and Hospitality Group.
- The venue includes a public bar area, dining room with adjacent courtyard and beer garden, and an upstairs function room with a dedicated bar and outdoor rooftop area.
- The expressions of interest campaign was conducted through JLL Hotels and Hospitality Vice President of Investment Sales Will Connolly.
Source: JLL Hotels and Hospitality Group
The sale folllows an expressions of interest campaign conducted through JLL Hotels and Hospitality Vice President of Investment Sales Will Connolly, who said the impact of such a positive result should not be underestimated.
"The Melbourne hospitality industry has been and continues to be the heaviest hit since COVID- 19 restrictions were implemented” he said.
Source: JLL Hotels and Hospitality Group
“We believe the sale of the Wayside Inn will provide confidence to hotel owners throughout Metropolitan Melbourne, whether they be owners of Leasehold or Freehold interest, that they own an asset that is viable and seen by the market as a type of property that will recover."
This sale continues a recent run of national results for the recently expanded JLL Hotels team, which has included Forresters in Surry Hills NSW, the Elephant Hotel in Brisbane QLD along with a soon to be announced sale of a prominent Leasehold Gaming hotel in Bayside Melbourne.
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