A growing Melbourne-based group has acquired a vacant hospitality site in Ringwood, citing plans for “an exciting new venture”.
The landmark three-level architectural freehold is a purpose-built structure with indoor and outdoor entertainment zones, an integrated lift, a spacious beer garden and rear access to substantial off-street parking.
Its prime 633sqm lot enjoys commanding frontage along the Maroondah Highway, strategically located amongst major demand drivers such as the Eastland Shopping Centre precinct. It has total floor area of 1,525sqm and is zoned Activity Centre.
The location was home to Club Dakota nightclub until the former building was destroyed by fire in 2016, replaced with the current structure – designed as prime space for a hospitality operator. Dakota returned, on the ground floor, touted as “a beacon of vibrant nightlife in the area”.
Above the nightclub was Bungalow bar, and above that a function space.
But early 2025 the business went into receivership, and Dakota celebrated its last night on Australia Day.
The mortgagee in possession sent it to market in an Expressions of Interest campaign led by HTL Property’s Scott Callow and Daniel Ryan, alongside Ray White Commercial’s Ted Dwyer, presented as “one of the most versatile commercial opportunities in Melbourne’s eastern corridor”.
Emerging as the highest bidder is an unnamed but reportedly highly regarded group that already holds multiple bars and hospitality operations across Melbourne and is said to be planning to leverage the building’s versatile footprint.
Agents relay the campaign attracted interest from a diverse range of buyers, which Callow says speaks to the strength of the precinct as a major metropolitan activity hub.
“The significant property attracted intense interest from a diverse range of buyers, underscoring the enduring value of well-designed hospitality and entertainment infrastructure.
“Ringwood serves as a vital gateway between inner Melbourne and the Yarra Valley, receiving millions of passing vehicles and visitors annually.”
Dwyer adds that the area is undergoing change that underpins investment into business assets.
“The ongoing multi-billion-dollar infrastructure injections into Ringwood, including the nearby Maroondah Hospital upgrade and transport interchange renewals, provide considerable confidence regarding the area’s long-term demographic tailwinds.”
