51-59 Palmerston Crescent, South Melbourne

HTL Property and Cushman & Wakefield Middle Markets  are pleased to present the Clarion Apartments, South Melbourne, a rare opportunity to acquire a tenanted hotel investment in one of Melbourne’s most vibrant city fringe precincts. Positioned at 51–59 Palmerston Crescent, this modern apartment hotel offers strong rental income and long-term upside.

• 69 modern apartments (57 studios, 12 one-bedrooms) with premium amenities including a gym, conference centre, and secure parking
• Prominent dual frontage to Kings Way and Palmerston Crescent, offering excellent visibility and access
• Centrally located in South Melbourne, minutes from Albert Park, the Royal Botanic Gardens, and Crown Entertainment Complex
• Generating gross rent of $1,641,739.p.a.* (excl. GST)
• The tenant has a franchise agreement in place with Choice Hotels (NYSE: CHH), a major international hotel company with 22 brands and over 7,400 hotel locations globally
• 125m²* ground-floor retail space on a high-profile corner, ideal for a range of uses
• Just 300m* from the soon-to-open Anzac Station, part of the $13.48B Metro Tunnel Project (Source: Victorian Government’s Big Build)
• Situated on 789m² of Commercial 1 Zoned land, allowing for diverse future uses including residential or co-living (STCA)
• Benefitting from Melbourne’s booming hotel sector, which is experiencing record-breaking room bookings and strong investor sentiment in CBD-fringe assets.

* Approx

For sale via Expressions of Interest closing Thursday 13 November at 12pm (AEDT).

Under instructions from the Receivers and Managers appointed, KordaMentha.