Melbourne’s Iconic Prince Of Wales Venue For Sale

Longstanding Melbourne music hub The Prince Of Wales hotel is on the market, with “immediate development potential” a key selling point.

Currently operated by the Melbourne Pub Group, the four-storey St Kilda venue, which is home to the Prince Public Bar and Prince Bandroom, is being offered as a tenanted investment. That is, there is an existing lease with venue operators that new owners will likely have to honour.

A representative of the Bandroom was not able to confirm the length on the existing lease to theMusic.com.au today.

Listed by CBRE Melbourne, they say that approved development potential includes four more levels of “premium” residential accommodation. Music has featured at the venue for over six decades.

It is estimated that the venue has a combined net income of $2.3 million annually.