Art nouveau Spencer Street, Melbourne corner offering through Savills
A classic five level freestanding retail and accommodation building with frontages to both Spencer and Flinders Streets in the Melbourne CBD is on the market for sale through Clinton Baxter and Nick Peden at Savills.
The landmark CBD corner 2-8 Spencer Street is heralded as one of the most recognisable corners in Melbourne.
The building is 100% leased to a range of tenants including Nomads Backpacker Hostel, the backpacker accommodation group that holds the lease until 2018.
The retail tenants include 7-Eleven.
The 1913-built Art Nouveau building, previously known as the Sir Charles Hotham Hotel and the Hotham Private Hotel, last sold for $10.75 million in 2012.
Property Observer understands the 2012 buyer was associated with private investor Peter Russell's Kurrawong.
The corner block has a land area of 883 square metres with a 20.9 metre frontage to Spencer Street and 40.2 metres to Flinders Street with a $951,517 per annum rental price.
When the hotel was first erected the daily press described as one of the largest in the city, close to what was the shipping trade, Spencer Street Railway Station, Harbour trust offices and Railways Offices.
It includes cellar, ground floor with large public bar, private bar, billiard room, four bar parlours and offices; three storeys and open flat on roof.