Pegasus Apart Hotel in the Queen Victoria Market precinct for sale
Pegasus Apart’Hotel, located in a prized location in Melbourne due to its proximity to the legal precinct, universities and Queen Victoria Market, has been placed on the market by its original owner.
JLL’s Capital Markets and Hotels & Hospitality teams led by Josh Rutman, Peter Harper, Nick MacFie and MingXuan Li have been appointed to undertake an International Expressions-Of-Interest campaign.
The 25-storey building features 278 apartments including studios and two-bedroom configurations, together with two penthouses. It offers an array of amenities such as a restaurant and bar, three conference rooms, indoor lap pool, fitness centre and secure basement car park for 80 vehicles. Its Gross Floor Area of 22,512 square meters and its location allow an array of uses including residential, hotel, office, build-to-rent and co-living.
Peter Haper, Managing Director at JLL Hotels & Hospitality Group, said:
“Whilst the Melbourne hotel market does continue to face some challenges, we expect a number of investors will look to capitalise on the legacy of the property through a re-branding exercise. Alternatively, we are also anticipating strong interest from groups in the residential and living sectors given the flexibility of the building and evolution of the precinct.