261 Keilor RoadEssendon VIC 3040
Property Details for 261 Keilor Rd, Essendon
Last Listing description (September 2023)
Jones Real Estate is proud to present Punthill Essendon, 261 Keilor Road, Essendon For Sale via International Expressions of Interest closing Wednesday 16th August at 12pm (AEST).
Discover an exceptional investment opportunity in Melbourne's blue-chip suburb of Essendon This high-quality national investment offers attractive rental income through a long-term lease with a reputable national operator Punthill Apartment Hotels.
Key highlights of this high-quality national investment opportunity include:
- Leased to renowned Punthill Apartment Hotels who operate 21 venues nationally. Returning $715,000 per annum + GST & Outgoings on an initial term of 10 years, 3% annual increases and three option terms (5 years + 10 years + 5 years).
- Strategically positioned near Melbourne International Airport and Essendon Airport, this hotel attracts local, national, and international travellers, ensuring a steady flow of guests and robust demand for accommodation.
- Comprising 2,064sqm* total building area, offering 40 brand new suites (14 studio, 6 one-bedroom and 10 two-bedroom apartments) over 5 levels and 11 car spaces, this hotel provides ample space for various hospitality operations. Its well-designed layout ensures functionality and productivity, creating a seamless experience for guests.
- The hotel industry continues to experience growth, driven by increasing travel needs. Investing in this hotel allows you to capitalize on this trend and tap into the ongoing demand for accommodation from diverse traveller segments.
- With Commercial 1 Zoning (C1Z) and a hotel tenant, this property offers flexibility for future use^, making it an adaptable asset that can align with changing market demands and opportunities.
*Approx.
^Subject to planning approval.
For further information or to schedule a private inspection of the opportunity, please contact the exclusive selling agents.
Disclaimer: Sizes and dimensions described are approximate. Parties should not rely on the information contained within this summary; we recommend seeking professional advice before proceeding.
Property History for 261 Keilor Rd, Essendon, VIC 3040
- 30 Jan 2025Sold for $10,850,000
- 11 Jul 2023Listed for Sale Contact Agent
- 18 Sep 2018Listed for Rent $220 / week
Recent sales nearby
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About Essendon 3040
The size of Essendon is approximately 6.2 square kilometres. It has 20 parks covering nearly 8.4% of total area. The population of Essendon in 2016 was 20596 people. By 2021 the population was 21240 showing a population growth of 3.1% in the area during that time. The predominant age group in Essendon is 20-29 years. Households in Essendon are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Essendon work in a professional occupation.In 2021, 62.10% of the homes in Essendon were owner-occupied compared with 60.20% in 2016.
Essendon has 13,013 properties. Over the last 5 years, Houses in Essendon have seen a 21.55% increase in median value, while Units have seen a -0.84% decrease. As at 30 November 2025:
- The median value for Houses in Essendon is $1,929,483 while the median value for Units is $582,394.
- Houses have a median rent of $645 while Units have a median rent of $500.
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