The Freehold Interest in one of suburban Melbourne’s premier late night hospitality venues has come to market, with the state-of-the-art complex certain to draw investor appetite. 123-127 Maroondah Highway, Ringwood is being exclusively offered for sale by JLL’s Will Connolly, Lachlan Persley and MingXuan Li via national Expressions of Interest.

Recently constructed, comprising three spectacular levels, the property is positioned in the retail & commercial heart of one of Melbourne’s fastest growing suburbs, all within 23kms of Melbourne’s CBD, commanding a dominant position on the highly established Maroondah Highway. The multi-tenanted investment provides investors a combined income of circa $493,000 plus GST p.a. with current growth in annual rental via CPI. Across multiple levels, the property provides an NLA of over 1,400sqm.

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JLL’s Will Connolly expects the interest level to be high given the spectacular physical quality of the asset and strength of the underlying tenancies. “Our vendors have truly spared no expense in ensuring the asset has been finished to the highest level of quality since its rebuild in recent years, to now provide a new owner with a true ‘set & forget’ investment opportunity. This coupled with the strength of the established underlying hospitality businesses in place within the property will provide ongoing certainty of rental growth”,

123-127 Maroondah Highway, Ringwood houses three of the eastern suburb’s most frequented hospitality venues and event spaces with ‘Baby’ Nightclub comprising the ground floor area, the highly popular ‘Bungalow Beer Garden’ set across the first floor which features a spectacular outdoor terrace, internal dining area and fully equipped commercial kitchen. The top floor houses ‘Hyde Rooftop’, a stunning rooftop venue popular with weddings, private functions, and corporate events. The overall facilities have been completed to a meticulous degree, with the modern facade of the venue complementing other recent development within the area.

With Melbourne’s eastern suburbs rapidly transforming into the city’s ‘second CBD’, JLL’s Lachlan Persley anticipates investor interest to identify the asset’s premier location. “We’re now seeing Ringwood’s exponential growth with QIC recently commencing their construction of their 12,000sqm A-grade office development, adjacent to the Eastland Shopping Centre. This along with the recent opening of Accor’s 103-room, ‘Sebel Melbourne Ringwood’ has quickly established Ringwood as a major drawcard to blue chip corporates, national retailers and leading hotel groups”, commented Persley.

The Freehold Interest in 123-127 Maroondah Highway, Ringwood is available via Expressions of Interest closing Thursday 2 March at 5pm.

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact details below. 

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