The Point, Albert Park, For Sale

Landmark restaurant and bar The Point, at the end of Aquatic Drive, has been put to the market by its owner operators. The freehold and business could fetch as much as $8 million, local industry sources speculate.

The Point includes a restaurant and two function rooms, all with views over Albert Park Lake.

Vinci Carbone Property director Joseph Carbone says he expects The Point to draw interest from local, interstate and international operators, given the venue’s popularity and position.

Earlier this year, the Observatory Cafe at the Royal Botanic Gardens sold to former avionics engineer George Koumantakis, of eastern suburb cafe institution Car Park Cafe fame.

The Mt Rael Retreat in Healesville, a high-end restaurant and accommodation house popular with international guests, has also put to the market this year.

In November last year, London-based hospitality outfit Match Bar announced it would open a high-end bar on the third level of the QV building, where it leased about 600 sq m.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco

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