Melbourne’s Prince of Wales hotel in St Kilda, has sold to Chinese buyers Pub Li City for a reported $45 million from John Van Haandel.
The property includes a 39-room boutique hotel, music venue, restaurant and a day spa. The current tenants have a lease over the Prince bandroom until the end of 2021.
Pub Li City is owned by Jiyuan Louis Li, with two other shareholders, Jie Li and Wenxiu Zhao.
The property was marketed by CBRE as having a planning permit for 66 luxury apartments in a 4-storey block possibly to be built on the Prince Car Park site that is part of the sale.