257 Edwardes StreetReservoir VIC 3073
Property Details for 257 Edwardes St, Reservoir
Last Listing description (May 2022)
JLL Hotels & Hospitality, together with Cropley Commercial, are pleased to present for sale the Freehold Interest in Edwardes Lake Hotel, Reservoir, providing an outstanding opportunity to secure a 'trophy' investment asset in Melbourne's highly competitive gaming hotel market.
Located just 12km from the CBD in Melbourne's northern growth corridor, the property is underpinned by the security of a successful, multi-venue tenant with entitlements for 100 electronic gaming machines and extensive facilities encompassing an enormous land-banking opportunity of 48,900sqm within the rapidly expanding metropolitan suburb of Reservoir.
Investment highlights include:
* Large scale hospitality and retail complex incorporating bistro & bar, sports bar with TAB facilities, gaming lounge & bar with 100 EGMs, large indoor children's play area, attached drive-through, dual-lane bottle shop and 306-bay onsite car park
* Triple net lease with 2.5% annual increases and current net income of $1,400,000
* Securely leased to experienced multi-venue hotel operators
* Long term lease to 2041 with 2 x 20-year options
* Huge 48,900sqm* site in major growth corridor, 12 km from the Melbourne CBD
* Enormous long-term development potential (STCA)
*Approx.
For sale by Expressions of Interest closing Thursday 2 September 2021 at 5:00pm AEST.
Property History for 257 Edwardes St, Reservoir, VIC 3073
- 03 Sep 2021Sold for $28,000,000
- 09 Aug 2021Listed for Sale Contact Agent
- 10 May 2018Listed for Sale Not Disclosed
Recent sales nearby
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About Reservoir 3073
The size of Reservoir is approximately 18.9 square kilometres. There are 45 parks, covering nearly 8.8% of the total area. The population of Reservoir in 2016 was 50474 people. By 2021 the population was 51096 showing a population growth of 1.2% in the area during that time. The predominant age group in Reservoir is 30-39 years. Households in Reservoir are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Reservoir work in a professional occupation.In 2021, 59.90% of the homes in Reservoir were owner-occupied compared with 59.30% in 2016.
Reservoir has 29,187 properties. Over the last 5 years, Houses in Reservoir have seen a -0.25% decrease in median value, while Units have seen a 10.34% increase. As at 31 July 2026:
- The median value for Houses in Reservoir is $949,204 while the median value for Units is $650,197.
- Houses have a median rent of $600 while Units have a median rent of $538.
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