Cremorne, Victoria
Premium Melbourne Short Term at 381 Cremorne
Under Contract / Offer
Business Description
Turnkey Designer Accommodation | Business-Only Sale | Strategic Inner Melbourne Location
Adjusted Net Profit: $281,000 | Revenue: $2.57 million
Expression of Interest Campaign Now Open
Ras360° Property Solutions, in conjunction with JLL Hotels & Hospitality Group, has been appointed by the Receivers and Managers to exclusively present the management and letting rights to 381 Cremorne — a rare, blue-chip investment opportunity in the heart of Cremorne, Melbourne’s premier innovation and commercial precinct.
Positioned at the epicentre of what has been dubbed ‘Silicon Yarra’, 381 Cremorne is surrounded by the head offices of major national and global tech firms including SEEK, MYOB, Uber, REA Group, and Disney. This sought-after location ensures constant demand from business travellers, project teams, and extended-stay guests — all seeking premium, self-contained accommodation in one of Australia’s highest-performing commercial precincts.
This offering includes the caretaking and letting rights to a contemporary, architecturally designed building comprising 60 apartments, with 30 currently in the letting pool, including 8 leasebacks. The property has been designed to cater for executive, relocation, and short-term leisure stays, featuring a mix of 1-, 2- and 3-bedroom apartments with high-end finishes and full self-containment.
Key financial highlights include:
• Adjusted Net Profit: $281,000
• Total Revenue: $2.57 million
• Caretaking Salary: $75,000 (indexed to CPI)
• Agreements expiring 2040
• No requirement to own or reside in an apartment (business-only sale)
Office hours align with a short term operation, providing operational structure while preserving flexibility. This versatile model makes the business highly attractive to experienced accommodation operators or corporate investors seeking a Melbourne foothold.
381 Cremorne’s location also provides immediate access to Melbourne’s world-famous Sports and Entertainment Precinct, including the MCG, AAMI Park, and Rod Laver Arena — ensuring spikes in occupancy and rates during high-profile events. Guests and residents benefit from exceptional connectivity via Richmond and East Richmond train stations, tram routes on Swan and Church Streets, and the nearby Monash Freeway.
Cremorne continues to be one of Australia’s most rapidly growing commercial and lifestyle precincts, underpinned by sustained government and private investment, a strong development pipeline, and thriving demand for executive accommodation. The combination of commercial expansion and proximity to Melbourne’s best lifestyle and entertainment amenities makes 381 Cremorne a standout accommodation asset.
There is clear scope to increase revenue and profitability through letting pool expansion, dynamic pricing strategies, and value-add guest services. This is a turnkey investment with long-term agreements, low entry barriers, and a high-value postcode
Expressions of Interest are now invited. For a full Information Memorandum or to arrange a confidential discussion, please contact JLL or Ras360° Property Solutions
Business Summary
Business Snapshot
Price: Under Contract / Offer
Net Profit: $281,000 Remuneration / Body Corp Salary: $75,000
Complex Information
Complex Type: Resort / HolidayTotal Units in Complex: 60Total Units in Letting Pool: 30Owner Occupy Units: 17Outside Agent Units: 13Agreement Term: 25 yearsAgreement Term Remaining: 15 years
Key Investment Insights
1. Adjusted net profit $281,000 on revenue of $2.57 million, indicating strong margins for a short‑stay operator.
2. Business-only sale of caretaking and letting rights, no requirement to own or reside in an apartment, lowering entry barriers for investors.
3. Turnkey offering with established operations and office hours aligned to short‑term letting, suitable for experienced accommodation operators or corporate investors.
4. Long‑dated contractual security, agreements expiring 2040, 25‑year agreement term with approximately 15 years remaining.
5. Caretaking salary $75,000, indexed to CPI, providing predictable remuneration and expense transparency.
6. 60‑apartment architecturally designed complex, 30 apartments currently in the letting pool, including 8 leasebacks, offering immediate income and clear upside via increased pool penetration.
7. Mix of 1, 2 and 3 bedroom fully self‑contained apartments with high‑end finishes, targeting executive, relocation and extended‑stay guests.
8. Premier inner‑Melbourne location in Cremorne’s Silicon Yarra precinct, surrounded by major tech head offices such as SEEK, MYOB, Uber, REA Group and Disney, ensuring year‑round corporate demand.
9. Proximity to Melbourne’s Sports and Entertainment Precinct including the MCG, AAMI Park and Rod Laver Arena, enabling event‑driven occupancy and rate spikes.
10. Excellent connectivity via Richmond and East Richmond train stations, tram routes on Swan and Church Streets, and nearby Monash Freeway, enhancing guest access.
11. Clear growth levers identified: letting pool expansion, dynamic pricing strategies and value‑add guest services, with demonstrable scope to lift revenue and profitability.
12. Located in a high‑value, fast‑growing commercial and lifestyle precinct underpinned by ongoing government and private investment, supporting sustained accommodation demand.
