Collingwood, Australia sale to tap demand for budget accommodation
The former Woodpackers Hostel and Barleycorn Hotel in Collingwood has been listed for sale by private vendors.
Located at 177 Johnston Street, the hostel has a modern fit out with a reception, four principal dormitory rooms, 10 private and shared rooms and two full commercial kitchens.
CBRE Hotel’s Scott Callow is managing the sale via an Expression of Interest campaign closing May 25, 2023.
“The facility is being sold on an as-is basis with nearly new bunk beds and mattresses and well-fitted kitchens offering the opportunity to re-establish a successful operation,” Mr Callow said.
The 558sqm site has three high exposure frontages, which are well serviced by public transport, and is 4km from the Melbourne CBD.
Collingwood is one of the oldest suburbs in Melbourne and is known for its trendy vibe, with art studios, bars, offices, restaurants and galleries.
“The tourism market in Australia has seen a rebound in demand for backpacker and budget accommodation and with the number of these facilities having reduced in Melbourne, this an ideal opportunity to recommence a business in a strong market.”