Chinese investor buys Moonee Ponds Junction Club

Chinese investor buys Moonee Ponds Junction Club
Jonathan ChancellorDecember 7, 2020

A Chinese investor has purchased the three-storey Junction Club in Moonee Ponds for $10.7 million.

CBRE's Justin Clarkson and Scott Callow sold the club at 740 Mount Alexander Road on behalf of the private syndicate, United Investment Management.

It sold at $8.4 million in 2011.

The property is largely leased to Harness Racing Victoria until 2022. There is a total passing income of $802,500 per annum.

The long established gaming venue with 80 EGM's, public bar with Pub TAB and bar/bistro.

It had the potential for a high rise residential development on the 1,943 square metre holding at the intersection connecting Mount Alexander Road, Ascot Vale Road, Pascoe Vale Road, Dean Street and Puckle Street. 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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