Essendon North, VIC
40 Keys

Commercial opportunity in the heart of Essendon North

Strategically positioned in Essendon North the Punthill Apartment Hotels provide convenient access to central business districts, shopping hubs, entertainment venues, and public transportation networks, catering to the preferences of business travelers, families, and tourists alike.

The development comprises a ground floor retail space which is the hotel reception area, car parking for 11 vehicles at the rear of the ground floor, a mezzanine area providing communal facilities, building services, storage area and communal gymnasium. Levels 1 – 4 comprise the apartments which include 24 studio rooms, 6 x one-bedroom apartments and 10 x two-bedroom apartments, which range in size between 25.1 sqm and 43.8 sqm.

Long term lease commenced January 2023 for 10 years.

Net income of $730,000 per annum (as at June 2024).

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