CENTRAL CLUB HOTEL VACANT FREEHOLD TO MARKET

In On the Market by Clyde Mooney

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A landmark corner pub in North Melbourne comes to market as a freehold vacant possession, the long-serving Aidone family ready to pass the reins for its next historic leg.

The two-storey Central Club Hotel sits at the intersection of Victoria and O’Connell Streets, with frontages on three streets.

The same family has owned and operated it for over four decades, while it has come to be surrounded by new residential, hotel and student accommodation and office developments, with more major projects in the works.

It is close to public transport, and a ten-minute walk from the Melbourne CBD.

It also holds Flexible Capital City zoning, providing development or conversion potential, or expansion of the existing Hotel operation with activation of the rooftop area (STPA).

The Adone family are looking to retire from the business, and have offered the title as a vacant possession through CBRE Hotels’ Will Connolly and Scott Callow.

“This is an opportunity for a purchaser to secure the Hotel now, prior to the much-publicised redevelopment of the Queen Vic Market,” notes Connolly. “We’re talking about a multi-million-dollar revitalisation happening at your doorstep.

“That should be extremely motivating to any profile of purchaser.”

John Aidone was unavailable for comment.

The freehold of the Central Club Hotel is being sold via onsite auction, Friday 1 December.