Another Melbourne pub icon has hit the market offering investors an “opportunity of imperial proportions”.
Situated on the city’s best-known CBD corner – Bourke and Spring Streets – the Imperial Hotel is adjacent to Chinatown and directly opposite Parliament House, and reputedly a popular haunt for thirsty pollies.
The freehold is being sold with a long-term lease to one of the State’s best operators, Open Door Pub Co, with agents CBRE Hotels describing the historic 19th century pub as a “trophy asset”.
The hotel will go under the hammer by on-site auction through CBRE and Cropley Commercial on 8 May, and is likely to draw a crowd as the desirability of the commercial real estate market in Victoria increases following its revised development regulations of 2014.
“There are very few traditional corner pubs remaining in Melbourne’s CBD,” CBRE Hotel senior director Scott Callow told PubTIC.
“The Imperial Hotel is one of the most recognisable and well located pubs in the tightly held east end of the city surrounded, by many of Melbourne’s landmarks.
“Opportunities such as these rarely come to the market.”