JLL is pleased to present the opportunity to acquire the freehold interest in the Junction Club, with Expressions of Interest sought by 4.00pm (AEST) Thursday 17th June 2021.
This hospitality institution occupies one of the most high profile sites in Moonee Ponds. Recently renovated, the hotel is primarily leased to Moonee Valley Racing Club (MVRC), and features a large gaming room (with 80 gaming machines), segregated sports bar/TAB facility and spacious bistro dining room over the basement and ground levels.
Accessible via a separate entrance from Mt Alexander Road, the first floor consists of approximately 777sqm of well-appointed office space and is currently presented as two office suites.
Just 6km north-west of the Melbourne CBD, this strategic landholding occupies a prime 1,942sqm* site on the corner of Mt Alexander Road and Dean Street, with close to 21,000 vehicles passing daily.
Underpinned by a brand new 6-year lease to a blue chip tenant, of which over 85% of income is derived, the freehold investment offers genuine security as well as repositioning potential with its favourable Activity Centre zoning.
Investment highlights include:
- Established hospitality venue, licensed for 80 electronic gaming machines
- High profile corner location with exposure to nearly 21,000 passing vehicles per day
- Located 6km from the Melbourne CBD within the Moonee Ponds Activity Centre
- Moonee Ponds has grown exponentially in the past decade with its resident population expected to nearly double to around 30,000 by 2041
- Significant 1,942sqm* site with enormous development potential (STCA)
- Unrivalled connectivity to wider Melbourne area with two major arterials and is well serviced by all modes of public transport
- Underlying zoning of Activity Centre under the Moonee Valley Planning Scheme
- Brand new 6-year lease to Moonee Valley Racing Club
- Over 85% of income derived from Moonee Valley Racing Club
- High exposure (100m frontage) to Mt Alexander Road and Dean Street
- Secured income growth with fixed annual rental increases
- Net operating income of $845,401 p.a.
Invest for the long term or re-develop for the future