A historic Clifton Hill pub, the Royal Hotel, built in 1889 and owned by the same family since 1985, is hitting the market for the first time in 40 years—with 29 rented rooms and a running gin distillery. Originally eyed for apartment conversion, the property now faces auction in September, expected to sell for mid-five million, as agents seek a new owner to revive its legacy. Meanwhile, in Collingwood, the Yorkshire Stingo Hotel and City East Motel—bought for just $130K in 1988—are sold for $2.5M and $3.5M respectively, plus three Munro Shoes warehouses for $3M, signaling major redevelopment plans. In Chinatown, long-held properties are seeing soaring values: a Russell Street noodle shop building could fetch over $3M (up from $1.1M in 1994), and a Little Bourke Street landmark, leased to a bar, is also up for grabs, as vacancy rates plummet and the area rebounds.
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