The iconic Rochester Castle Hotel, (The Rochey) has been listed for sale through Burgess Rawson’s Romanor Falconer and Jamie Perlinger.

Established in 1852, this Melbourne institution is renowned as one of the city’s most enduring and well loved venues. 

With a new five-year lease in place until August 2029, plus four further five-year options extending to  2049, the property generates a net income of $180,872 per annum with fixed annual rent increases of  3%. The tenant, a successful local hospitality operator with multiple venues in Fitzroy and Carlton,  underscores the property’s steady performance and appeal.

Located at 202-204 Johnston Street the hotel occupies a prominent 412 sqm corner site with Commercial 1 Zoning (C1Z) and a dual 46-metre frontage. The hotel includes a spacious 660 sqm two level layout providing a bar, dining area, extensive beer garden, and event spaces with a capacity for  591 patrons and a coveted 3am license. 

Its prime location between Smith and Brunswick Streets ensures high visibility, benefitting from strong  foot traffic and daily vehicle flow averaging 19,000, while recent residential growth in the area adds  immediate appeal for further development.

Mr Falconer said Fitzroy is bolstered by over 1,000 new apartments which have been recently  completed and/or under construction within a one-kilometer radius with the average resident income  being 57% higher than the Victorian average, providing a robust customer catchment for the hospitality  trade.” 

“The Rochester Castle is more than just a venue; it’s a part of Melbourne’s cultural fabric,” he said adding, “This is an exciting opportunity to invest in a property with both historical significance and  strong future growth potential.”

The property will be auctioned at Burgess Rawson’s Portfolio Auction event on Wednesday, 11th  December at Crown Casino’s River Room in Melbourne.

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