Singaporean investor Teo Cheng Woon has decided to put Base St Kilda Backpackers Melbourne on the market after owning the property for more than 10 years.  The Teo family has been a long-time investor in the Australian real estate industry.

JLL’s Hotels & Hospitality’s Nick MacFie and Mark Durran have been exclusively appointed to sell the asset.

Base St Kilda Backpackers Melbourne is an established purpose-built accommodation offering originally constructed in 2004 and highly regarded within the backpacker community as one of the hotspot destinations of Melbourne for many years.

The property features 48 accommodation rooms incorporating 238 beds across five levels as well as numerous guest facilities including a bar, commercial kitchen, guest kitchen and lounge, laundry, courtyard, basement carparking and is currently leased by Base Backpackers.

The asset is prominently located on Carlisle Street in the world famous beachside suburb of St Kilda, home to many of Melbourne’s famous visitor attractions including Luna Park, St Kilda Beach, the Esplanade Hotel, Catani Gardens, Acland Street and Fitzroy Street being less than six kilometres from the Melbourne CBD.

“Base St Kilda is situated within one of Melbourne’s most renowned beachside suburbs which has always been a favourite with international travelers and backpackers congregating to enjoy some of the best Melbourne has to offer. The location of Base St Kilda is one of its key highlights, situated in the centre of the action and also benefiting from exceptional connectivity to a number of tourist attractions,” said Nick MacFie, Vice President - JLL Hotels & Hospitality Group.

“This sale represents the first of its kind for some time in Melbourne with international travel rebounding quicker than anticipated. This rare investment opportunity is a major drawcard for an astute investor who will appreciate the prime status of St Kilda,” he added.

Expressions-of-Interest for Base St Kilda Backpackers Melbourne close on Tuesday 8th November 2022 at 2pm (AEDT).

For more information contact the agents via the contact form below.