The freehold interest of Colonial Leisure Group’s popular Lucky Coq is for sale, offering a prized lot five kilometres from the Melbourne CBD with certified earnings for the next dozen years.
Colonial Leisure Group (CLG) operate 10 venues across Victoria, and a total of 20 Australia-wide. The Group has been at Windsor’s Lucky Coq since 2009 on a lease set to expire September 2030, with no further options.
CLG pays $175k (+GST) annual rent on the property, plus outgoings, and has built it up to be a very successful all-day eatery and late-night destination.
The 355sqm site is zoned Activity Centre, bringing genuine future development opportunity. The Hotel building is under a General heritage overlay and a 3am licence, including a large ground floor public bar, casual dining space, rear laneway access, and function room with an atrium-style outdoor rooftop deck on the first floor.
The passive freehold is being offered to market for the first time in nearly half a century by former operators the Caneva family, through CBRE Hotels’ Scott Callow and Will Connolly.
“The Caneva’s have owned the hotel now known as the Lucky Coq for 47 years, and we believe the successful purchaser may have the same desire to hold this asset long-term, given that corner freeholds rarely become available in Chapel Street,” suggests Connolly.
Freehold interest of the Lucky Coq is for sale via Expressions of Interest, closing Wednesday, 12 September.