St Kilda’s Prince of Wales is Up For Sale, May Give Way to Residential Devlopment

Here we go again, folks. In a move which feels uncomfortably similar to what we saw happen to The Palace earlier this year, St Kilda's Prince of Wales Hotel has just been put up for sale. The entire four-storey building — including the pub, bandroom, restaurants, hotel, spa, and carpark  — is currently open to expressions of interest online and estate agents are hinting at its potential for imminent residential development.

"[The site has] immediate development potential with approved plans and permits for four (4) additional levels of premium residential accommodation," the listing reads.

Of course, at this point nothing is set in stone. Either way, both the pub and bandroom will remain tenants of the building until the end of their lease, and there's still a good chance the building's new owner will want the businesses to stay on. After all, the site in all its current form takes in a whopping $2.3 million per year. Unfortunately, none of this can be determined by the venue operator. Until a buyer is confirmed we're all in an uneasy state of limbo.

More than 60 years since its opening, Prince Bandroom is still regarded as one of the city's best mid-size venues. With a capacity of just 900, it's been a stalwart of the south side's live music scene regularly hosting big name acts including Coldplay, Bright Eyes, Goldfrapp, Lenny Kravitz, The Scissor Sisters, and just this year, Solange and Kelis.

This is quite the legacy to hold onto, and if we've learnt one thing from being a music-loving Melburnian it's that you should never say die. Though we saw The Palace close their doors forever, there are now whispers of a white knight developer looking into restoring the site to its former glory. Anything can happen. Either way, there's a good chance we could have another fight on our hands.

Via Tone Deaf.