505 City Road,
South Melbourne, VIC 3205

The Palace Hotel, South Melbourne provides an exceptional opportunity for the astute purchaser to acquire a much-loved local pub with fantastic main road exposure, 3 street frontage & future development potential (stca), leased to an experienced operator on a long term lease.

*Currently returning $187,940.00 pa net plus GST
*5 year lease commenced 1 April 2013
*4 further options of five (5) years each
*Fixed annual increases of 3.5%

Located on the corner of Pickles Street with rear frontage to Smith Street, this property is within easy walking distance to South Melbourne Market, Southbank, Melbourne's CBD, South Wharf and Port Melbourne Beach. Providing excellent transport linkages and is literally metres away from Bay Street & Clarendon Street retail precincts, you wont find a better location.

Internally, this versatile building comprises a ground floor public bar & bistro with 2 separate outdoor seating areas, while the 1st floor comprises a self contained function area with its own bar & amenities.

Zoned General Residential zone, the future potential is substantial. Bordering Albert Park where land of similar size is rarely found, this is one investment that will certainly enhance any property portfolio with ample growth potential.

Call now to obtain a Property Report or arrange an inspection.