914-918 Mt Alexander Road Essendon VIC 3040

Vinci Carbone are pleased to offer for sale the freehold interest of The Essendon Hotel, 914-918 Mt Alexander Rd, Essendon.

This premium investment opportunity offers investors the chance to acquire a stunning two-level freehold, securely leased to an established operator, with options until 2049.

The current operator extensively refurbished the building in 2019, investing significant capital to upgrade all dining/bar areas, function rooms, amenities and kitchen, allowing for low future landlord maintenance.

The property is ideally situated on Mt Alexander Road, consisting of 353 sqm* of Commercial 1 Zone land and 10 metres* of frontage to Mt Alexander Road and with ROW access, which further highlights the subject property’s many underlying key fundamentals.

This investment opportunity is leased with fixed annual compounding increases and open market reviews, further allowing for investment upside. 

The property is complemented by the Mt Alexander Road, Napier Street and Fletcher Street cafe/retail shopping strip, transport links, private and public schools, Moonee Valley and Flemington Racecourses, parklands and the Maribyrnong River.

Key highlights:

+Lease Term: Five (5) year lease to The Essendon Hotel expiring 2029 plus further options until 2049.

+Income: Returning: $170,000 per annum* plus GST plus outgoings.

+Improvements: A unique opportunity to secure a newly renovated two-level building with a spacious floor area of 525 sqm* and low future CAPEX requirements in the heart of Essendon.

+Rental Upside: Fixed compounding 3% annual reviews with open market reviews at option terms.

+Landholding: The property spans an impressive 353 sqm* of Commercial 1 Zoned land with over 10 metres of frontage to Mt Alexander Road with ROW access to Fletcher Street.

+Established Operator: The current tenant has occupied the property since 2019.

For Sale by Expressions of Interest closing Thursday 10 April at 4pm

*approx.