31/07/2024
Melbourne’s pub market is experiencing a resurgence of activity, with the recent transaction of the freehold interest in the Cornerstone Hotel drawing a yield of 4.5 per cent. This is the first time the Cornerstone Hotel has been offered to the market in 25 years, and the historic Port Melbourne pub attracted six offers under a four-week expression of interest campaign. According to JLL Hotels & Hospitality, which managed the transaction, the appetite and activity within the Melbourne pub market has begun to re-emerge, and fully leased investments continue to defy market expectations.
The Melbourne pub market has begun to re-emerge, with the recent sale of the Cornerstone Hotel attracting a competitive yield.