Stonebridge Asia Practice Sources Buyer for Vacant Williamstown Hospitality Freehold

Stonebridge Property Group has successfully concluded the sale of 217–219 Nelson Place, Williamstown — a hospitality venue directly fronting Port Phillip Bay within the Nelson Place tourism precinct. 

The asset, held by a single family for over 80 years and formerly occupied by Mascalzone Pizzeria, was offered with vacant possession. 

“The process drew significant interest from locally based and interstate investors, together with value-add buyers seeking to re-lease the property and activate surplus land,” said Nic Hage, Director of Stonebridge Strip Retail Investments. 

A private investor, sourced through Stonebridge’s Asia Practice team, ultimately acquired the property for $2,726,000, which — based on the previous rental of approximately $90,000 p.a.* — reflects a net yield of around 3.3%. 

“Waterfront real estate and land-rich assets are highly regarded by Asian investors, with scope for future development being a key attraction,” said Ian Lam of Stonebridge Asia Practice. 

The property is positioned on a 1,023 sqm, Commercial 1 zoned site, with rear access to Aitken Street. 

Asian capital securing retail assets across Victoria remains a consistent trend for the Stonebridge team, with their Asia Practice division securing buyers for 47% of retail assets brought to market during the 2024/25 Financial Year. 

Over the past 12 months, the team has transacted over $236 million worth of commercial property to Asian investors nationwide — a 61% year-on-year increase. 

Kevin Tong, Partner at Stonebridge, commented: 

“A key driver for this increased interest has been growing buyer confidence following two years of lower activity and a favourable interest rate environment. 
What we’re seeing is that many Asian investors aren’t tied to a specific asset class — they’re focused on long-term security, and that’s why they’re comfortable transitioning between supermarkets, childcare, and fast food. That flexibility gives us a major advantage when matching buyers to the right assets.” 

Tong added: 

“Many of these buyers aren’t new to Australia — they’ve been in the market for 6–12 months, actively watching for opportunities. What sets them apart is their decisiveness and long-term view, especially when high-quality assets are presented.” 

The transaction of 217–219 Nelson Place, Williamstown, was handled by Nic Hage, Dylan Kilner, Rorey James, and Ian Lam of Stonebridge Property Group.