September 11, 2026 — 5:00 am Save You have reached the maximum number of items saved. Remove items from the saved list to add new ones. AAA Capital gains The Royal Hotel in Clifton Hill has been bought for $5.51 million by a local pub landlord keen to revive the pub’s fortunes. Rebecca Feingold, who revived the Leinster Tavern on Gold Street, Collingwood, as the thriving Goldie’s Tavern, made the winning bid to build the imposing three-storey Royal Tavern on the corner of Spenceley and Berry Streets. The village pub, built in 1889, covers 736 square meters of land and has been largely closed for the past 10 years. “I’m thrilled. I’ve loved this place for years,” Feingold told Capital Gain. A crowd of about 200 people stretched across the intersection to watch the sunny lunchtime auction – most of them locals or former residents eager to get a peek into the bar and upstairs rooms. The village pub, built in 1889, covers 736 square meters of land and has been largely closed for the last 10 years, except for a bottle shop and a small gin distillery run by the vendor’s family. When auctioneer Paul Tzamalis noted that the area “may have been dry, but the doors may be opening again soon,” a murmur of approval ran through the eager crowd. Once a gritty working-class area, this inner-northern suburb enclave is now filled with highly paid professionals (who were obviously hard at work during the auction). Several offers were received from three parties before the pub nearly agreed to the seller’s $5.5 million offer. Feingold’s representative then made a final bid of $10,000 to secure the pub. The sellers, the Goodich family, bought the pub in 1985 from Carlton & United Breweries, paying with the purchase of “5,000 class 52 redeemable preference shares”. The complex deal comes during the heady days of the takeover of CUB by Elders IXL during the reign of the late John Elliott. Colliers agents Ben Baines and Lucas Soccio managed the auction campaign. Local residents should be happy with the result. Highway pub Meanwhile, on the northern outskirts of the city, the Kalkallo Hotel appeared on the market. The lease at 1324 Hume Highway expires in June 2027, so the pub needs a good operator to bring the bars back to life. It sits on the corner of a 2,040 square meter site on one of the country’s busiest motorways, with 60,000 cars a day passing through its doors. The hotel is adjacent to the 1,140-hectare Stockland Cloverton Estate and across the road from Merrifield Business Park. Records show it last changed hands in 2022 for $5.12 million and was purchased by Adam Brick’s Brix Projects. Aerial shot of the Kalkallo Hotel at 1324 Hume Highway, Kalkallo. Matthew George of Savills has the listing and is expecting around $3 million. Chancery Lane Scott Pickett’s Chancery Lane restaurant, located at 430 Little Collins St. and still in the hospitality business, has finally sold for the rock bottom price of $3.75 million. The Normanby Chambers property has been listed for sale several times over the past couple of years with expectations of $7 million to $10 million. In 2022, Pickett’s bankrupt Rogue Traders paid $8 million. At the time, Rogue Traders was supporting the First Guardian pension fund, which evaporated along with $500 million in super savings. It is understood that the deal was almost signed, sealed and delivered just as the Rogue Traders were going into administration in 2025. Corporate undertaker KordaMentha managed the sales process, with the campaign carried out by Colliers agents Christian Hatzis, Matt Stagg and Tim McIntosh. They declined to comment on the price. However, Hatzis said they received 100 inquiries and five offers for the restaurant. Most of Pickett’s restaurants continue to operate with new financial support from prominent investor Salter Brothers, which manages a number of funds in the hotel and restaurant sector. Meanwhile, the owner of Pickett’s Smith St Bistrot in Collingwood is selling the 344 square meter premises. Pickett’s newly formed Bottier 300, formed in December 2025, has a five-year lease for the restaurant (with an option to extend until 2039) and is paying $120,205 a year in rent. 430 Little Collins Street. Paul Jones of Jones Real Estate expects the price for the restaurant to be around $2 million. Records show the home at 300 Smith St. last changed hands in 2014 for $2.45 million. And in South Yarra, at 159 Domain Road, Julien Moussy opened Kiki’s Tavern in the former premises of Pickett’s Matilda. Big shoes to fill Property players have a second chance to acquire a long-held property on Chapel Street. The Rosenberg family, former shoe stores, are selling the three stores at 59-65 Chapel Street that they have owned for more than 100 years. CBRE agents Alex Brierley, Nathan Muphale, David Minty and Jing Jun Heng have the listing, which could fetch up to $8 million, depending on the aspirations of future buyers. 59-65 Chapel Street, Windsor. Height levels at this end of Chapel Street were recently changed and an eight-storey tower could be built on the 828 square meter site adjacent to the Melbourne Bowls Club. Early interest appears to be coming from developers and large hotel groups, Brierley told Capital Gain. “This is not a passive investment,” he said. The Save the Children operation has a short-term lease on the house at 59-61 Chapel Street, while the adjacent property is vacant. Rosenberg Shoes, which specialized in footwear for large feet, closed its doors in mid-2024 after 120 years of trading. Ornate shop windows at 59-65 Chapel Street, Windsor, where shoes were once displayed. Last week the Prahran Mechanical Institute sold its Chapel Street premises to a local buyer for more than $3 million and a 4.9 per cent yield. The store at 259-261 Chapel Street, owned by PMI since the 1850s, failed to sell at auction despite two bidders. Fitzroys agents Lewis Waddell and David Bourke, along with Peter Lane of Lane Commercial, negotiated the deal after it was listed at $3 million. It sits on a plot of 366 square meters, giving a transaction value of over $8,200 per square meter. Waddell said the buyer plans to own the property for the long term. It is leased to sportswear retailers Daily Jocks, Connection Perfumes + Gifts and Bennett’s Boxing Gym. The Ownership Cycle Namibian supermarket chain owner Ingo Woermann is selling the Port Melbourne building he bought in 2017 for $14.5 million. At the time, the 180 Bay Street deal was notable because settlement was completed in just seven days. Once upon a time, in the distant past, he was also at the top of the real estate cycle. Paul Jones and Vincent Lam of Jones Real Estate hold the listing and are expecting about $12 million. 180 Bay Street, Port Melbourne. Developer CostaFox bought it in 2016 as a distressed asset and made a 40 percent profit by selling it 18 months later. The 1,134 square meter building is leased to Bupa, Priceline and Witchery and generates rental income of approximately $641,545 per annum. It sits on a 1,018 square meter plot of land opposite Coles. “Large properties of this scale are becoming increasingly difficult to obtain on existing downtown retail strips, especially when they receive revenue from established national tenants,” Jones said. The Business Briefing newsletter delivers insightful stories, exclusive content and expert insights. Sign up to receive it every weekday morning.. Save You have reached the maximum number of items saved. Remove items from the saved list to add new ones. From our partners Post navigation Cricket: Today’s Test – England vs Pakistan 2026: Third Test, Day 2 Katie Piper emotionally exposes vile abuse after National Television Awards