Paradise Angels brothel building in Seaford escorted onto market with hopes of rising in value
A pink double-storey building home to a brothel and adult entertainment club in Melbourne’s southeast is for sale.
Ray White Commercial Oakleigh agent George Kelepouris said the site’s owners were “looking for 6 per cent yield” on their investment, with price hopes in the vicinity of $1.6m-$1.8m.
The building boasts a reception area, lounge room, two communal rooms, six other rooms, two laundries and 14 car parks outside.
Mirrored rooms and a spa also feature.
Mr Kelepouris said in the week since the building was placed on the market, purchasers including investors from Melbourne and Sydney had expressed interest.
“The property has had 2165 views on realcommercial.com.au and six inquiries through the website, about nine inquiries in total,” Mr Kelepouris said.
“It does look liked a two-storey doll house, all done up in pink.”
Paradise Angels began renting the premises under a 10-year lease in 2018, with options to extend the lease for a further two 10-year periods.
Mr Kelepouris said the property was set on 1044sq m.
“The generosity of land will always lend itself to a future development, should the tenant decide to leave,” he said.
“It is in a great location and zoned as industrial one, surrounded by national tenants, on a main road opposite a train station.”
The building currently returns $108,000 in rent annually, plus GST and outgoings.
CoreLogic records show 31 Wells Rd last sold for $1.15m in 2012.
The auction will be held online 12pm June 23, with bidders required to register.
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