PORT MELBOURNE PUB

A prominent Port Melbourne pub - part of a huge national portfolio snapped up by beverage giant Lion Nathan in a spending spree some years ago - is for sale, and being marketed for its redevelopment potential. The London hotel at 92 Beach Street, on the south east corner of Princes Street and opposite the Beacon Cove housing estate, is expected to fetch some $3 million at auction later this month. The vacant double storey art deco pub includes 640 square metres of space and sits on 330 square metres of land. Vinci Carbone director Joe Carbone, who is marketing the asset with Frank Vinci, expects the property to attract developers who may propose a redevelopment of six levels or more. Owner occupiers from within the hospitality, office and retail sectors were also expected to show interest, he said.