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TOLARNO HOTEL, 42 Fitzroy Street, St Kilda, VIC, 3182

2. Property Highlights

TOLARNO HOTEL
  • Prime location fronting on to Fitzroy St
  • Freehold opportunity with long lease
  • Vibrant cultural heritage

CBRE Hotels are pleased to present for sale the Tolarno Hotel, located at 42 Fitzroy Street, St Kilda.

After almost thirty years, the renowned Tolarno Hotel in the dynamic hub of St Kilda, Melbourne, is now available for sale, exuding exclusivity and historical significance. This extraordinary opportunity presents itself as a unique chance for discerning investors and forward-thinking custodians to secure their place in Melbourne’s vibrant art history.

Located in the vibrant heart of St Kilda, the Tolarno Hotel is just moments from the scenic St Kilda foreshore and 5km away from Melbourne's CBD. The Hotel is located amongst St Kilda's iconic landmarks, including Luna Park, The Espy Hotel, Palais Theatre, Stokehouse, and the bustling Acland and Fitzroy Street’s with a diverse array of cafes, restaurants, boutiques, retail, and galleries.

For sale via Expressions of Interest closing Wednesday, 6 March 2024 at 4pm (AEDT).

INVESTMENT HIGHLIGHTS:

- 19.3sqm frontage to Fitzroy Street and occupies a total land size of 968sqm, offering a highly desirable and iconic location

- Rare chance to acquire a freehold under a long term lease to an existing tenant

- Features a valuable collection of original artworks, including mesmirising murals by renowned Melbourne artist Mirka Mora, showcasing her evolution from the 1960's

- The Hotel features 37 individually styled rooms exuding unique charm, contributing to the Hotel's character and appeal

- With a Commercial 1 zone designation covering 968sqm, the property provides income from the current hotel tenant with potential for growth through the restaurant, bar, function rooms and plans for additional level compromising 9 hotel rooms

- Founded by Mirka and Georges Mara in the 1960's, the Hotel stands as a testament to the city's vibrant cultural heritage, offering a unique blend of history and notoriety

Remember to mention you found this property on CommercialReady

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3. Property Location

TOLARNO HOTEL, 42 Fitzroy Street, St Kilda, VIC, 3182