51-59 Palmerston CrescentSouth Melbourne VIC 3205
Property Details for 51-59 Palmerston Cres, South Melbourne
Last Listing description (January 2024)
Dominant Melbourne Hotel Investment Nearby Crown Casino
Stonebridge Property Group and CBRE Hotels are pleased to present the freehold investment of the City Edge South Melbourne Serviced Apartments located at 51-59 Palmerston Crescent (corner Kings Way), South Melbourne.
The key highlights of the opportunity include:
- Newly developed 69 room hotel, on the footsteps of the Melbourne CBD
- Underpinned by a 10 year lease plus options with fixed 4% annual increases
- Prominent 789 sqm* Commercial 1 Zone landholding, with direct exposure to Kings Way
- Only a stone's throw away from prominent tourist locations including Crown Casino, MSAC & the CBD
- Complemented by 27 basement car spaces in addition for future value add with the inclusion of a retail tenancy on the ground floor
- Net annual income of $1,421,300* (fully leased)
City Edge Hotel, South Melbourne is offered for sale via Public Expressions of Interest closing Thursday 30th November 2023 at 5:00pm (AEDT). To obtain further information or to arrange an inspection, please contact the exclusive selling agents.
Stonebridge Property Group:
Kevin Tong
0422 848 818
Rorey James
0439 400 081
CBRE:
Scott Callow
0418 153 606
*Approximately
Property History for 51-59 Palmerston Cres, South Melbourne, VIC 3205
- 30 Oct 2023Listed for Sale Contact Agent
- 31 Jan 2020Listed for Rent - Price not available
Recent sales nearby
See more recent sales nearby/assets/perm/jcbvavgecmi6xnlqxub62uatw4?signature=1236843e6483d6f94d19cbd74ab6d8154220d6a268223c7f34f9044612acc795){kind=logo}
0
/assets/perm/m64swomwpui63eazvx2p26adpe?signature=6b549b6063c784a253e8dc384bc7f25c74472e25781a611115d5b6716a6f85ba){kind=logo}
0/assets/perm/wd7azi2atai65hdh5n3erfk5tq?signature=0c103ef56e2461b14728ddbab2f6fd6bf863f57fe94734b277e264433de1aa28){kind=logo}
0Similar properties For Sale nearby
See more properties for sale nearby
0
0
0Similar properties For Rent nearby
See more properties for rent nearby
0
0
0
About South Melbourne 3205
The size of South Melbourne is approximately 2.2 square kilometres. There are 15 parks, covering nearly 3.3% of the total area. The population of South Melbourne in 2016 was 10920 people. By 2021 the population was 11548 showing a population growth of 5.8% in the area during that time. The predominant age group in South Melbourne is 30-39 years. Households in South Melbourne are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in South Melbourne work in a professional occupation.In 2021, 42.40% of the homes in South Melbourne were owner-occupied compared with 40.20% in 2016.
South Melbourne has 12,940 properties. Over the last 5 years, Houses in South Melbourne have seen a -4.88% decrease in median value, while Units have seen a -0.82% decrease. As at 31 July 2026:
- The median value for Houses in South Melbourne is $1,699,133 while the median value for Units is $613,169.
- Houses have a median rent of $850 while Units have a median rent of $675.
Suburb Insights for South Melbourne 3205
Market Insights
South Melbourne Trends for Houses
N/A
N/A
View TrendN/A
N/A
South Melbourne Trends for Units
N/A
N/A
View TrendN/A
N/A
Neighbourhood Insights
© Copyright 2026. RP Data Pty Ltd trading as Cotality (Cotality). All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials is permitted. The information is deemed reliable but not guaranteed.
While Cotality uses commercially reasonable efforts to ensure the Cotality Data is current, Cotality does not warrant the accuracy, currency or completeness of the Cotality Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the Cotality Data.
This product uses cookies and other similar technologies to improve and customise your browsing experience, to tailor content and adverts, and for analytics and metrics regarding visitor usage on this product and other media. We may share cookie and analytics information with third parties for the purposes of advertising. By continuing to use our website, you consent to cookies being used. View our Privacy Policy here.
X
