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JIM Courier hangs out there when he's in town. Comedic duo Hamish and Andy are regulars. Rove comes to the occasional trivia night.
The Arcadia Hotel, on the busy corner of Toorak and Punt roads in South Yarra, is for sale, and is expected to fetch more than $7 million.
The refurbished hotel can serve alcohol for 20 of every
24 hours, and has a permit for a rooftop beer garden, which would offer views over the CBD and the bay.
John H Castran director John Castran is marketing the property. He said Arcadia's trading figures were superior to that of the Prince Alfred Hotel, which sold last year for $8.1million and was being refurbished.
"The Arcadia derives 99% of its income from liquor sales, making it one of the most profitable hotels in Melbourne," he said.
The Arcadia is part of a five-property portfolio put to the market. It includes potential development sites behind the Arcadia on Punt Road with access to Ralston Street, leased to the Eastern Rug Gallery and Hertz car rental.
A Toorak Road shop and development site with a permit for a seven-level apartment tower is also for sale.
Mr Castran expects the portfolio to sell for more than $14 million.
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