Beach Hotel, Foodworks Albert Park listed
Staff ReporterDecember 7, 2020
An Albert Park, Melbourne site with existing hotel and supermarket on 1,700sqm of land has been listed with price expectations around $16 million.
The site features the Beach Hotel, which currently has a seven year lease and 32 pokies as well as the nearby Foodworks Supermarket on a ten year lease.
Justin Dowers, CBRE director of retail investments, Victoria and NSW said both leases have development clauses in them in the instance that the preference is to develop luxury apartments given the Beaconsfield Parade / Port Phillip Bay outlook.