Prominent Melbourne CBD Corner Sells For $10.75 Million

A LOCAL private investor has paid $10.75 million for a historic property at the south-west tip of the CBD.

The former Sir Charles Hotham Hotel (pictured, right), later rebranded the Hotham Private Hotel, and now the All Nations Backpackers, occupies sites at 2-8 Spencer Street and 566-580 Flinders Street, near the Yarra River.

On an 833-square-metre site, the property has been offered for sale at various stages over the years, but a lease expiring in 2018 is believed to have deterred residential developers.

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