ICONIC MELBOURNE HOSPITALITY INSTITUTION + ACCOMMODATION BUSINESS | DUAL INCOME | PRIME ST KILDA LOCATION

An exceptionally rare opportunity to acquire one of Melbourne’s most iconic hospitality venues, Leo’s Spaghetti Bar, together with a fully operational hostel accommodation business, all under one roof in the heart of St Kilda.

Positioned on Fitzroy Street, just 6km from the Melbourne CBD, this landmark offering combines nearly 70 years of trading history with diversified, multi-stream income, delivering immediate cash flow and significant future upside.

KEY HIGHLIGHTS:
Two Businesses, One Asset – Restaurant + Accommodation delivering dual income streams
Melbourne Icon Since 1956 – One of the city’s most recognised Italian dining institutions
Prime Tourism Location – High foot traffic from locals, interstate and international visitors
234-Seat Licensed Venue – Late-night trading approval until 3:00am
Established Accommodation Operation – Consistent bookings via major online travel platforms
Strong, Diversified Revenue – Dining, bar, late-night trade + accommodation income
Favourable Long-Term Lease – Secure tenure with CHEAP rent ($9,870/month + GST)

INVESTMENT APPEAL:
This is a turnkey hospitality investment offering immediate returns from day one, underpinned by an established brand, proven trading history and a high-demand location.

IDEAL FOR:
Experienced hospitality operators
Investors seeking stable cash flow with upside
Groups looking to expand or leverage an iconic Melbourne brand

IMMEDIATE GROWTH POTENTIAL
Significant opportunities exist to further unlock value:

Brand revitalisation and digital marketing expansion
Events, functions and late-night entertainment programming
Strategic tourism and travel partnerships
Accommodation occupancy optimisation
Potential franchising or brand expansion of Leo’s

LOCATION:
Located in the heart of St Kilda’s premier hospitality and tourism strip, surrounded by major attractions including St Kilda Beach, Luna Park, Palais Theatre and Acland Street.

This is one of Melbourne’s most visited precincts, ensuring consistent, year-round trade.

A RARE OFFERING:
Opportunities of this calibre are exceptionally rare.

A tightly held, multi-income hospitality asset with heritage, scale and future potential-ready for a new owner to step in and capitalise immediately.

For further information or to receive a detailed Information Memorandum, please contact Grita Angelucci

For more details, please email broker or call agents.