MELBOURNE, 15 March 2022 – The Freehold Interest in Port Melbourne’s prestigious 92 Beach Street is being offered exclusively for sale by JLL’s Will Connolly and Tim Carr via a national ‘Expressions of Interest’ campaign.
Designed by renowned Melbourne architect Ewart Leaf, the former home of Port Melbourne’s London Hotel site was completed in 2021 and forms part of an eight-storey residential complex to the rear of the property comprising 13 luxury apartments (all sold separately).
The striking waterfront building offers uninterrupted views of Port Phillip Bay over three levels. With its generous 949sqm net lettable area that includes a valuable 3:00am late night liquor licence, the property provides a range of investors the perfect platform, being positioned opposite the popular Port Melbourne Beach and Spirit of Tasmania shipping terminal, with the bustling Bay Street retail strip nearby. Surrounded by high-density residential towers and numerous retailers/offices on Bay Street, with easily accessible public transport to the city and inner suburbs via light rail and tram, the property is well-positioned to capture the custom of local residents, retailers, office workers and tourists.
With Mr Carr stating, “Appetite for strategic inner city office accommodation continues to strengthen in the current market. We find ourselves in an extremely dynamic market whereby businesses are seeking opportunity to secure whole floor tenancies that provide access to exclusive building amenity.
“92 Beach Street presents a brand new, state-of-the-art building that benefits from direct access to ample natural light and ventilation throughout, and we are confident that the building will provide first class office accommodation for a variety of future businesses”.
With strong interest also expected within Melbourne’s highly competitive hospitality market, Mr Connolly added, “True waterfront venues are, and always will be, incredibly elusive to acquire, especially being in the heart of one Melbourne’s premier bayside suburbs and with operational advantages such as the already existing late night, 3am liquor licence. This truly is an incredible opportunity for a hospitality operator to create one of the more spectacular Melbourne venues, with much of the physical work to the asset itself already delivered upon”.
Expressions of Interest for 92 Beach Street are being sought by Wednesday 20 April at 5pm.
