CBRE Hotels were delighted to present for your consideration a unique opportunity to acquire a functioning city fringe motel with significant development potential located at 539-541 Royal Parade Parkville, Parkville. Situated within the tightly held high profiled suburb of Parkville, the outstanding opportunity can be summarised by the following key attributes:
- Strategic 3,221sqm inner city land holding;
- Existing quality motel improvements allowing strong passing income with significant future development;
- potential (STCA);
- Extensive 25 meter frontage to Royal Parade and over 45 meters* to prestigious The Avenue;
- Offered over three (3) individual titles;
- Highly desirable location in the University precinct, close to Melbourne University and RMIT and within close vicinity to the Melbourne CBD, transport amenity and opposite Princes Park and Walker Oval;
- Situated in one of Melbourne’s most prestigious and tightly held residential suburbs;
- A very rare and exceptional land-banking opportunity.
