For Sale
Dominant Melbourne Hotel Investment Nearby Crown Casino
City Edge South Melbourne Serviced Apartments - 51-59 Palmerston Crescent, South Melbourne VIC
CAMPAIGN CLOSED
Stonebridge Property Group is pleased to present the freehold investment of the City Edge South Melbourne Serviced Apartments located at 51-59 Palmerston Crescent (corner Kings Way), South Melbourne.
The key highlights of the opportunity include:
- Newly developed 69 room hotel, on the footsteps of the Melbourne CBD
- Underpinned by a 10 year lease plus options with fixed 4% annual increases
- Prominent 789 sqm* Commercial 1 Zone landholding, with direct exposure to Kings Way
- Only a stone’s throw away from prominent tourist locations including Crown Casino, MSAC & the CBD
- Complemented by 27 basement car spaces in addition for future value add with the inclusion of a retail tenancy on the ground floor
- Net annual income of $1,421,300* (fully leased)
To obtain further information or to arrange an inspection, please contact the exclusive selling agents.
*Approximately
