Log In/Sign Up
Your email has been sent.
Roamer St Kilda 24 Grey St 41 Room Hostel St Kilda, VIC 3182 For Sale
Investment Highlights
- Three-level heritage building with a total building area of 1,680 square meters.
- Accessible to multiple public transport options including tram and bus stops within 200 meters.
- Located about 6 kilometers south of Melbourne CBD in a mixed-use precinct.
- Positioned near Fitzroy Street with proximity to St Kilda Beach and Albert Park.
Executive Summary
An iconic heritage-listed landmark in the heart of Melbourne’s thriving St Kilda precinct, 24 Grey Street represents an unparalleled opportunity to secure a rare freehold with exceptional investment fundamentals. Formerly an iconic coffee palace, this three-level property offers historical significance paired with modern hospitality appeal, presenting buyers with secure income streams and outstanding development upside.
The asset is fully leased to the nationally recognized hospitality operator Bounce St Kilda Pty Ltd under a long-term agreement that commenced in November 2021, with one additional 10-year option. Currently generating $525,000 per annum plus GST and outgoings, with annual rental increases and turnover rent provisions, the property assures strong, predictable cashflow.
Set on a 610 sqm site with a generous 1,680 sqm building area, the property encompasses 42 guest rooms, multiple social spaces, a ground floor bar, a café, and a rooftop bar featuring liquor licenses. Its position at the center of St Kilda’s lifestyle hub places it moments from Fitzroy Street’s dining and retail strip, major tram routes, key transport links, and Melbourne CBD approximately 6 km away. With historical character, stable income, and compelling future redevelopment potential, this is a landmark offering set to deliver enduring value.
The asset is fully leased to the nationally recognized hospitality operator Bounce St Kilda Pty Ltd under a long-term agreement that commenced in November 2021, with one additional 10-year option. Currently generating $525,000 per annum plus GST and outgoings, with annual rental increases and turnover rent provisions, the property assures strong, predictable cashflow.
Set on a 610 sqm site with a generous 1,680 sqm building area, the property encompasses 42 guest rooms, multiple social spaces, a ground floor bar, a café, and a rooftop bar featuring liquor licenses. Its position at the center of St Kilda’s lifestyle hub places it moments from Fitzroy Street’s dining and retail strip, major tram routes, key transport links, and Melbourne CBD approximately 6 km away. With historical character, stable income, and compelling future redevelopment potential, this is a landmark offering set to deliver enduring value.
Property Facts
| Sale Type | Investment | No. Rooms | 41 |
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hostel | Year Built | 2011 |
| Building Class | B | Corridor | Interior |
| Building Size | 14,714 SF |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hostel |
| Building Class | B |
| Building Size | 14,714 SF |
| No. Rooms | 41 |
| No. Stories | 3 |
| Year Built | 2011 |
| Corridor | Interior |
Amenities
- Restaurant
- High Speed Internet Access
- Patio
- On-Site Bar
- Public Access Wifi
- Fully-Equipped Kitchen
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 41 | $151.29 | - |
1 of 14
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Roamer St Kilda | 24 Grey St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.